Audit: 17 of 19 paid tax preparers got it wrong

Tax Form 1040(Photo: Thinkstock)Tax preparers got the results of an audit from the Government Accountability Office on Tuesday. Let's just say things didn't go well.The GAO's report cited a small undercover study of 19 paid preparers in February, chosen randomly in states that do not regulate tax preparers. The findings:• 17 of 19 returns were prepared incorrectly.• Errors ranged from giving the taxpayer refunds $52 less than due to a refund of $3,718 more than due.• Most frequent error: not reporting tips (12 of 19 returns).Unfortunately, the report didn't come as a surprise. The GAO surveyed taxpayer errors from 2006 through 2009 and found that tax returns prepared by preparers had a higher estimated percent of errors — 60% — than self-prepared returns —50%. Read More >

5 Characteristics of People with an Excellent Credit Score

By: Ellen Henderson Sirull 5 Characteristics of People with an Excellent Credit Score

Are you one of those people with stellar credit? If so, that's wonderful! If you're like a lot of people, though, your credit is a work in progress and you're always trying to keep your finances solid. So, what is different about those people who have excellent credit? Check out these five things th…

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