Section 125 Tax Preparer Income Tax Question

by Dee
(Indy)

Section 125 Tax Preparer Income Tax Question

Section 125 Tax Preparer Income Tax Question

We just started a section 125 plan. I know federal, FICA, FUTA are exempt.


But are state, local and SUI tax exempt as well?

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Tax Preparer Makes an Error

In our 2009 taxes, our tax preparer erred when computing our Federal withholding. As a result, we received a larger refund than we should. IRS has just found this error and is asking for us to repay it. I believe the tax preparer is liable for this payment, but do not know if there is a legal standpoint.

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