PROFESSIONAL LIABILITY INSURANCE FOR SMALL BUSINESS   Tax Preparers Professional liability insurance for small business acts as a life raft, a safety net of sorts that can pull a potentially damaged organization out of danger.  When that organization consists of a single tax preparer, a myriad of events can occur to make this particular person glad that they paid their premium for professional liability insurance for small business. It is often interchangeably called “errors and omissions” insurance, but no matter what name you issue to professional liability insurance for small business, it should provide protection for the following tax preparation issues: Miscalculation – An error in accounts receivable balances can result in an understatement of receipts, one of the many reasons the IRS may demand retribution. Incorrect methodology – Perhaps a tax preparer incorrectly uses the cash method instead of the accrual method.  Either way, a discrepancy is going to exist. Late filing – A result of fees and headaches, late filing can easily get a tax preparer sued by their client. Agents: to help your client avoid the above mishaps, complete the miscellaneous errors and omissions application and send it on to our Agency Marketing professionals.  We’ll quickly secure a quote to cover your tax preparer client and we’ll provide competitive rates and premiums for broad coverage situations. Contact an Expert in Professional Liability Insurance for Small Business Today at 800-542-2805.