@glennf reminds me of the time I tried to get a refund from the IRS. I’d paid taxes to them for book advances, but my accountant wanted me to pay UK income tax instead and claim the money back from IRS. So I paid the local tax, and asked for my refund, and they kept sending me forms to the UK to be filled out before a specific date. But they sent them slowly and had a deadline for return which passed before I received them. Then announced a cutoff for refunds which passed. Lost it all.
@glennf my accountant was my dad 🙂 to be fair, I stopped letting him do my tax returns. My wife helps me now. My mother and sister are also accountants!
@mo I hope he learned his lesson and does your dishes!
@mo This sounds like a nightmare. Although I have heard similar stories and it's the accountant who probably should have gotten sued. One friend exercised a bunch of options to pay AMT due to accountant's advice, which was…wrong. He wound up losing a huge amount of the upside on the options.