TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Solved

How can I validate my CPAs work?

Forum|Forum|3 years ago
August 13, 2022
11 replies
73 views

Tax beginner here...really don't know much. Its why I use a CPA.

My question: How can I validate my CPAs work? I've used the same CPA for last 7 years and he just retired and has handed the business off to his son. Ever since the transition occurred, experience has been sub-par. Not responding to my questions, lots of non-answers, delays after delays due to which I was forced to file an extension. I finally was able to get my return, but I'm having strong doubts. Without having to find another CPA, what is the best course of action here?

My general concern - in 2021, i made less, had a new born - and in talking to others, i should have received a bigger return than in 2020. Again, i know the numbers matter in the end, but curious if by looking at these, can anyone provide some guidance - does the refund for 2021 seem reasonable?

	2021	2020
W2 wages	$ 150,409	$ 184,930
Cap gain/loss	$ 16,469	$ 7,339
Total income	$ 169,980	$ 188,891
AGI	$ 167,979	$ 182,891
Deduction	$ 25,100	$ 24,800
Taxable Income	$ 142,879	$ 158,091
Tax	$ 22,019	$ 26,307
Refundable CTC	$ 5,300	$ 2,000
Total payments	$ 24,211	$ 27,795
Refund	$ 2,192	$ 3,488

Not A Product Question

Best answer by NCperson

thank you for the response.

2 kids - 5 yr old and 20 month old (born in Jan 2021).

I will double check how much Advance Child Tax Credit was received July-Dec. Also will pull up the 6419 to see what is on there.

Also, don't know if it matters but my wife does not work.

@VolvoGirl @one26528 - because AGI exceeds $150,000, the Child Tax Credit is limited, so it wouldn't be $7200 for the two children. the credit is reduced by $50 for each $1,000 over $150,000. So that is $18,000 Times 5% or $900. The credit is $7200 - $900 or $6300, so that is correct

Also, since 2020 AGI exceeded $150,000 the Advance would have been 1/2 of $2000 (and no record of the 2021 Baby since the Advance was based on 2020 tax return).

$5300 on the tax return appears to be correct.

NCperson

Level 15

@one26528 -

first, rather than using the word 'return', I think what you mean is a larger 'refund'.

can you please review what you entered in your table?

1) the tax, less the refundable CTC, less the payments should equal your refund,

for 2020, that math works

for 2021, it doesn't. the refundable CTC is missing from the refund. the refund should be $7,392 based on the table you presented.

didn't the CPA use a software package to complete the return? something doersn't make sense.

one26528Author

Level 2

Thank you for the response. You are correct - its refund, not return.

Let me double check the numbers. I pulled them directly off of the prepared returns. Will post an update soon.

Mike9241

Level 15

$2192 refund would be correct because the $5300 is included in the total payments. so total payments of $24,211 exceed total taxes of $22,019 by $2,192. the numbers make sense from a math standpoint.

in 2020 the CTC reduced your tax but in 2021 the CTC was treated as a tax payment.

there could be a question about the accuracy of the $5300 if you received any advance CTC payments that were not reflected on form 8812

any advance payments should be on line 14f of the form.

Mike9241

VolvoGirl

Level 15

How many children and their ages? Better double check your bank account to see how much Advance Child Tax Credit you got July-Dec. And each spouse should have received IRS letter 6419 saying how much they sent you (1/2 for each spouse).

You get Child Tax Credit of 3,600 for under 6 and 3,000 for 6-17. Minus the Advance you got. So it's hard to figure how you got 5300 on line 28.

one26528Author

Level 2

thank you for the response.

2 kids - 5 yr old and 20 month old (born in Jan 2021).

I will double check how much Advance Child Tax Credit was received July-Dec. Also will pull up the 6419 to see what is on there.

Also, don't know if it matters but my wife does not work.

rjs

Level 15

@one26528 wrote:

I've used the same CPA for last 7 years and he just retired and has handed the business off to his son. Ever since the transition occurred, experience has been sub-par. Not responding to my questions, lots of non-answers, delays after delays due to which I was forced to file an extension. I finally was able to get my return, but I'm having strong doubts. Without having to find another CPA, what is the best course of action here?

It sounds like you do need to find a new CPA for next year. Even if your 2021 tax return turns out to be correct, the poor service is reason enough to look for someone else.

Or learn to do it yourself with TurboTax. Your tax return is not very complicated. You could try it out by redoing your 2021 tax return in TurboTax online. You don't have to pay unless you print or e-file. However, if you decide to use TurboTax next year, I suggest the CD/Download TurboTax software instead of TurboTax Online. The CD/Download software is a far superior product with significant additional features.