Find Missing Money for Your Friends - Palma Financial

A Gift For Your Friends

Palma Financial Services, Inc. clients have the peace-of-mind that we help them claim every possible deduction legally allowed in the tax code. We put each return through an extensive review process to ensure that they keep all income they deserve to keep.

But what about friends?

Did you know that according to a report issued by the General Accounting Office, taxpayers overpay the IRS almost $950 million every year, which equates to an average overpayment of $400 per taxpayer.

(The most recent reported amount of overpayment was about $918 million)

Frog gives a gift

What’s worse, is that folks who prepared their own taxes (with a software package, or on their own) are the most vulnerable. Did you also know that taxpayers who used one of the big chain’ preparers are almost as bad off?

Another report from the GAO says: In a Limited Study, Chain Preparers Made Serious Errors.

In GAO (United States Government Accountability Office) visits to chain preparers, paid preparers often prepared returns that were incorrect, with tax consequences that were sometimes significant. Some of the most serious problems involved these preparers …

  1. Not reporting business income in 10 of 19 cases;
  2. Failing to take the most advantageous postsecondary education tax benefit in 3 out of the 9 applicable cases; and
  3. Failing to itemize deductions at all or failing to claim all available deductions in 7 out of the 9 applicable cases.

More clippings from the report:

  • The 19 paid preparers we visited arrived at the correct refund amount only twice. On 5 returns, all for the plumber, they understated our refund amount by a total of $3,465.
  • All 19 of our visits to tax return preparers affiliated with chains showed problems. Nearly all of the returns prepared for us were incorrect to some degree, and several of the preparers gave us very bad tax advice, particularly when it came to reporting non-W-2 business income. Only 2 of 19 tax returns showed the correct refund amount, and in both of those visits the paid preparer made mistakes that did not affect the final refund amount.

So exactly what does this mean for your friends?


You can help them recoup income that might have been overpaid.


Well, by informing your friend that they can file an Amended Return.

Now, although many tax businesses don’t provide this service and we’ve already completed our clients’ returns, we WILL review any of your friends’ returnsat no charge. See the special message below, for more details.

As a complimentary service this year, we will provide a Return Review To Any Non-Client. No charge will be made, unless we have to file an amended return.
[Industry statistics indicate that amended return refunds average about $1500]

Email our office or call (925) 307-5454 to set up this complimentary service!

Redeem Gift Certificate Here

Deadline: 7/29/16

Most taxpayers have no idea that over-payment of taxes is a huge national problem.

So help out a friend by sharing this post with them.

We’re not going to beat around the bush there’s a reason why Palma Financial Services, Inc. is not just a tax preparer. Learn what sets us apart by following our blog. We’re going to share more about the differences between us and others in our next blog post.

As always, thank you for stopping by.


Miguel Palma