A mistake on a client’s tax return or a missed filing deadline could result in a costly lawsuit. Gain protection from professional mistakes and other risks with policies designed for tax preparers.
These policies provide coverage for the most common tax preparer risks.
This policy covers common tax preparer risks, including customer property damage and injuries. Bundle with property insurance for savings in a business owner’s policy (BOP).
Tax preparer errors and omissions insurance (E&O), also called professional liability insurance, can cover legal expenses related to work performance, such as a missed deadline.
This policy helps tax preparers survive data breaches and cyberattacks. It can help pay for recovery expenses, client notification costs, and more.
Most states require workers' comp for tax preparation businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
Whether you’re a tax preparer, a bookkeeper, an accountant, or a financial advisor, clients depend on your expertise and trust you with sensitive data. That means you could be held liable for tax filing mistakes, an audit, or a data breach. Tax preparer liability insurance shields against lawsuits and helps pay for expenses such as data breach notification costs.