Excerpt from: Wealth Strategies Journal 2.0 (click for full article)
In an article entitled New York's Law of Tax Malpractice damages: Balanced or Biased?, Professor of Law Jacob L. Todres discusses the specific elements of damages incurred by plaintiffs who are the victims of negligently rendered tax advice. The author argues that New York's law denying the recovery of taxes in negligence or legal malpractice cases that would have been mitigated or avoided through proper rendering of tax advice should be re-examined. In addressing the non-recoverability of interest incurred on tax underpayments, the author discusses recent developments in state law and makes the argument for New York to adopt similar policy.
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