Carolyn Ackerman, Respondents v. Price Waterhouse, Appellant. (And One Other Action and a Third-Party Action.)

Summary

The New York Court of Appeals held that the statute of limitations for accountant malpractice begins when the client receives the accountant's work product, not when the IRS assesses a deficiency, and consequently dismissed all plaintiffs' claims for tax years prior to 1987 while leaving the 1987 claim timely. The Court reversed the Appellate Division and answered the certified question in the negative.