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Connecticut Appellate Court Rules on the CPA as Fiduciary

Recent decision on Iacurci v. Sax significant to Connecticut CPAs

Connecticut CPA Magazine

March/April 2013

On December 4, 2012, the Connecticut Appellate Court issued its decision in Iacurci v. Sax (139 Conn. App. 386) in an important case of first impression in our state.

The Issue: Do accountants, in their performance of tax return preparation work (and particularly when there has been a long-term accountant/client relationship with the taxpayer), act in a fiduciary capacity on behalf of their clients? The Court’s Holding: No.

Simply put, tax return preparers are not fiduciaries to their taxpayer clients no matter how long the professional relationship has been with the clients, and regardless of the disparity in the level of the knowledge, skill, and expertise in tax matters between the clients and their accountants.

Click here to read the full article, authored by Philip Bartels.


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