Many accountants are worried about the risk of filing for their clients and won’t do it at all. Determination of ownership is not as straightforward as one might assume in many cases.
My accountant just told me yesterday that AICP is telling their accountants to just have their clients do it themselves cuz of liability reasons in ownership not being as straightforward in many situations, like you said.
Or it may be straightforward (the people in control know they're in control) but not reflected in the books as it's not an accounting issue, and therefore the accountant doesn't really know (and doesn't want to assume wrong).
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Many accountants are worried about the risk of filing for their clients and won’t do it at all. Determination of ownership is not as straightforward as one might assume in many cases.
My accountant just told me yesterday that AICP is telling their accountants to just have their clients do it themselves cuz of liability reasons in ownership not being as straightforward in many situations, like you said.
Or it may be straightforward (the people in control know they're in control) but not reflected in the books as it's not an accounting issue, and therefore the accountant doesn't really know (and doesn't want to assume wrong).