An accountant is generally not liable for damages if the accountant fails to inform a client of the tax consequences associated with selling a business.

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An accountant can be held liable for damages if they do not inform their client of the tax consequences associated with selling a business, especially if the client suffers financial loss as a result. It is the accountant's duty to provide accurate and complete information to their clients.

An Accountant Is Generally Not Liable for Damages If the Accountant