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Business Profile

Tax Return Preparation

Lotus Wealth Management

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 0 complaints closed in the last 12 months.

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The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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  • Initial Complaint

    Date:11/07/2023

    Type:Product Issues
    Status:
    Unpursuable
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Lotus Wealth Management (LWM) Incompetent, unprofessional, liar. Filled family taxes and provided administrative business for 2021 and 2022. Live and work between **, MA and **. For 2022 filling the refund for MA and ** payment had not transacted. LWM said $300 to investigate so called MA myself. LWM put refund in the wrong box. Fixed the issue, received refund. Called LWM to inform. Was repeatably shouted at, told I or the state did not know what we were talking about. It was unprofessional and abusive. Put the phone down. Called ******** to understand why the payment had not been taken. The banking information had not been entered, was fined $159.93. LWM was informed, no response. Tax years 2021 and 2022 audited by a 3rd party CPA. Validated MA and NY errors also found ** in 2021 income was exaggerated by $82,558. Wrong number in the income box. $2,377 payment became a $2,613 refund. $4,990 lost for 12 months plus. I ended LWM agreement and requested to be paid for audit/re-submission ($700) and fines incurred ($159.93) due to malpractice. Response:1 - An accusation of racism Despicable to play race card to try to scare a complaint off, pure lies and pathetic. 2 - I should of used LWM to fill corrected return - Trust lost in LWM due to malpractice. 3rd party CPA needed to check and refill the 2021 return. 3 - I had not paid the Q3 and Q4 2022 business admin - $450 had not been billed, I professionally except this deduction from monies owed. 4 - 3.5 hours had been used for consulting costing $962.50 - I not made aware of these costs incurred beyond the fees already paid. Billable of time is not invented at whim.5 - We should walk away from each other amicably Do not threaten me. A CPA is paid to provide diligent services in a professional manner. This LWM was repeatably incompetent across both tax years, abusive and lied over multiple instances. Filling this compliant to make sure others are aware.

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