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How Advisors Can Offer Tax Planning And Stay In Compliance

CFO News Room

And the consequences for incorrect tax advice can include legal and financial penalties if a client were to be harmed by the wrong advice – which is often not covered by the firm’s E&O insurance –creating an expensive liability when tax advice goes wrong. How The IRS Regulates Tax Advice.

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Transcript: Ted Seides

Barry Ritholtz

And it got to the point where there was the potential to do this nonprofit, like charitable bet. SEIDES: Yeah, I wouldn’t measure it in terms of economic returns. It’s part of their own tax planning. So you go back a couple of years and you could say, “Well, what return is available buying a treasury?”