NASSAUSUFFOLK

 View Only

  • 1.  Release of papers

    Silver Most Valuable Member
    Posted 08-02-2020 04:44 PM
    I have a client that we are not doing business anymore.  He won't pay me the balance on his account until I return all his papers. Which is 4 full draws of an file cabinet.  I am aware that I have to retain my work papers for 6 years.  But he won't pay me unless he gets all the papers. Is there a letter he could sign to relieve ? Of saving the papers.  ???
    I appreciate any advise anyone can provide me. 
    Thanks Ken
    5166390858, cell,

    ------------------------------
    Kenneth Zweibel
    KENNETH J. ZWEIBEL, CPA PC
    East Northport NY
    Kjzcpa@aol.com
    Thanks
    ------------------------------


  • 2.  RE: Release of papers

    Bronze Most Valuable Member
    Posted 08-03-2020 08:36 AM
    Ken,

    I'm not sure which workpapers you want to be relieved of saving or if you are doing tax, bookkeeping /accounting work for the client. Usually there is a workpaper and return retention policy. generally 7 years for no longer clients and 10 years for continuing clients. Trust and estate returns a little longer.I guess the workpapers are not scanned. Any working papers that are your work product to support returns etc. don't have to be returned. Anything that is original client documents should be returned to the client. There are AICPA tax statements that address this issue.There may be a proforma letter in the statements.

    --
    Gerald S. Cohen, CPA
    cell 516 455-0643



    Original Message


  • 3.  RE: Release of papers

    Silver Most Valuable Member
    Posted 08-03-2020 08:52 AM
    I would recommend contacting your professional insurance carrier. They usually have samples of disengagement letters.
    best
    irene

    ------------------------------
    Irene Wachsler, CPA
    Wachsler CPA LLC

    Contact:
    Irene Wachsler, Trusted Biz Advisor for small business & gig economy
    Mass & NY Film Tax Credits
    Wachsler CPA , LLC
    Cell: 781.883.3174
    Email: irene@iw-cpa.com
    ------------------------------

    Original Message


  • 4.  RE: Release of papers

    Silver Most Valuable Member
    Posted 08-03-2020 09:02 AM
    THANKS



    Original Message


  • 5.  RE: Release of papers

    Platinum Most Valuable Member
    Posted 08-03-2020 12:06 PM
    So i had this situation.  , i called  CNA   and they told me to just give them the what the client wanted.  In my case, it was the qb file. The told me it was not worth a malpractice lawsuit....
    i did as i was instructed, but truthfully, i felt CNA was looking out for them self and not me... They were no help at all in helping me get the money from the client. and it was a substantial sum.  The were a help in averting a law suit which they would have had to defend. 

    ultimately, i did not give them the qb file, which we created from bank stmts , but i did give them a paper GL.

    i never got paid... 

    so i am not telling you not to follow their instructions, For i did , but it got me no where. 



    ------------------------------
    Abby Alhante
    KURCIAS & ALHANTE, CPAs LLC
    Melville NY
    ------------------------------

    Original Message


  • 6.  RE: Release of papers

    Bronze Most Valuable Member
    Posted 08-03-2020 12:57 PM
    As a practical matter, the clients new accountants will most likely need your QB files, workpapers and copies of prior personal and business returns. The client will have to send you a consent letter to provide this information to a third party and the new accountant would have to give you an access letter, if they want you to transfer tax return data files or QB files.
    I'm sure there is room to negotiate to get your fee or the new accountants will have to start from scratch.Just make sure you are within the AICPA Statements on standards for tax services.

    --
    Gerald S. Cohen, CPA
    cell 516 455-0643



    Original Message


  • 7.  RE: Release of papers

    Silver Most Valuable Member
    Posted 08-03-2020 01:18 PM
    THANKS



    Original Message


Discussion Disclaimer

The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute an accounting opinion.