Legal Question in Business Law in Illinois

Same accountant since 1990. For nineteen consecutive years the the self-employed health insurance premium deduction was taken, and then suddenly starting in 2009 it was not claimed. The statute of limitations for filing an amended return is three yrs. A CPA friend of mine thought he should be able to file a claim with his mal-practice insurance, but lo and behold, he dropped it several yrs. ago. Based upon our tax-bracket and the 3% the state takes, I calculate our loss between $9-10K. He claims that I'm ultimately responsible as it's my tax return. Short of him just writing me a check, I suggested he provide services up to $9,000. He countered that we split the difference with me getting a 50% discount until the $4,500 mark is reached. I would prefer to just be paid and find a new accountant. Do I have any legal recourse?


Asked on 5/08/15, 1:22 pm

1 Answer from Attorneys
William Price Growthlaw

Sue him in small claims court, but check your costs of counsel, any costs to file, and any possible counter-claims first. The 50-50 deal may be as good as you would get, net.

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Answered on 8/26/15, 8:59 am


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