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Errors and Omissions (E&O) Insurance for Tax Preparers

Tax preparers prepare tax returns for individuals, businesses, and other entities. Tax preparers can be part of a solo operation or can be employed by a service firm that specializes in tax preparation or accounting services. Tax preparers can be CPAs, enrolled agents, tax attorneys, or may also be unlicensed tax preparation professionals in some states.

Individuals and businesses seek the services of tax preparers in large part because of the complexity of income tax laws. Tax preparers typically work with a tax preparation software which lowers the frequency of errors and omissions. Tax preparers can also provide advice to their clients on how to lower their tax liability.

We provide professional liability insurance, also known as errors and omissions (E&O) insurance, to tax preparers in select states. We have access to multiple insurance companies that offer E&O insurance to tax preparers.

To obtain E&O insurance quotes, please first verify that your state is on the list of states we serve (see below). Complete an application and send it back to us. If you already have a recently completed application from a different broker or insurance company, we will gladly accept it.

Call us at 1-877-245-5887 if you have any questions or wish to discuss your E&O insurance needs. We're looking forward to earning your business.

We provide E&O insurance to tax preparers in the following states
Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Utah, Vermont, Washington, Wisconsin, Wyoming.

Why do Tax Preparers need E&O Insurance?

The preparation of income tax returns for individuals and businesses require a high level of knowledge of applicable laws and rules. Tax preparers can be sued for a variety of reasons, including:

    Improper or incorrect tax advice
    Misinterpretation of tax laws
    Misinterpretation of client's situation
    Failure to complete appropriate forms
    Data entry errors
    Failure to meet deadline
    Failure to follow professional standards

It is therefore important for tax preparers to have the appropriate E&O insurance protection.