Recent Tax Malpractice Developments in the Estate and Gift Tax Area

In reviewing the recently reported tax malpractice cases in the estate and gift tax area, two very different conclusions may be drawn. The first is that a relatively large number of cases are brought in this area - enough to make this the leading area for malpractice suits. The second conclusion tha...

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Bibliographic Details
Published inTaxes Vol. 83; no. 10; p. 33
Main Author Todres, Jacob L
Format Trade Publication Article
LanguageEnglish
Published Riverwoods CCH INCORPORATED 01.10.2005
Subjects
Advisors
Breach of contract
Court decisions
Estate planning
Estate taxes
Gift taxes
Negligence
Personal relationships
Professional malpractice
State court decisions
Tax services
Torts
United States > US
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Summary:In reviewing the recently reported tax malpractice cases in the estate and gift tax area, two very different conclusions may be drawn. The first is that a relatively large number of cases are brought in this area - enough to make this the leading area for malpractice suits. The second conclusion that may be drawn is that, despite the relatively large number of suits brought in this area, the tax professionals involved often escape liability on technical or procedural grounds. While the normal malpractice cause of action involves the tort of negligence, other torts are also encountered. Sorenson v. H&R Block, Inc. is a good illustration, containing, in addition to negligence and breach of contract claims, allegations of breach of fiduciary duty, professional malpractice, intentional or negligent infliction of emotional distress, breach of covenant of good faith and fair dealing, intentional or negligent misrepresentation and false and deceptive trade practices under state law. Alleged violations of federal securities laws and RICO violations may also be encountered.
ISSN:0040-0181