TYPES OF NONPUBLIC PERSONAL INFORMATION I COLLECT
I collect nonpublic personal information about you that is provided by you or obtained with your authorization. I do not disclose any nonpublic personal information obtained in The course of this practice except as required or permitted by law.
PROTECTING THE CONFIDENTIALITY AND SECURITY OF CURRENT AND FORMER CLIENT INFORMATION
I retain records relating to the professional services provided so that I can meet your professional needs and to comply with professional guidelines. In order to guard your nonpublic personal information, I maintain the safeguards that comply with professional standards. Please call if you have any question. Your privacy, professional ethics and the ability to provide quality service are important to me.
I AM NOT RESPONSIBLE IF YOUR RETURN IS KEPT BY THE IRS FOR THE FOLLOWING:
Prior amounts owed to the IRS, Back Child Support (Consider Injured Spouse Form), or Outstanding Student Loan Debt.
IRS delays on their end.
I will prepare the federal and state individual income tax returns. You represent that the information you are supplying to me is accurate and complete to the best of your knowledge and that you have disclosed to me all relevant facts affecting the returns. I am not auditing or reviewing these tax returns. I will not verify the information you give me; however, I may ask for additional clarification of some information. The law imposes a penalty if a taxpayer makes a substantial understatement of tax liability. For individual taxpayers, a substantial understatement is when the understatement for the year exceeds the greatest of 10% of the tax required to be shown on the return or $5,000. The penalty is 20% of the tax underpayment. It may be necessary to make certain disclosures in the return to avoid exposure and penalties. I will discuss tax positions that may increase the risk of exposure to penalties and any recommended tax return disclosures with you before completing the preparation of the return. We will use our judgment in resolving questions where the tax law is unclear, or where there are conflicts between taxing authorities’ interpretations of the law and other supportable positions. Unless otherwise instructed by you, I will resolve such questions in your favor whenever possible. In preparing your returns, we rely on your representations that I have been informed of all bartering transactions and that you understand and have complied with the documentation requirements for your expenses and deductions. If you have questions about these issues, please contact me. You have the final responsibility for the tax return and, therefore, you should review the return carefully for errors and omissions before you sign and file the return. I work in connection with the preparation of your income tax return does not include any procedures designed to discover defalcations or other irregularities, should any exist. However, I will inform you of any such matters that come to my attention. As you know, returns are subject to examination by taxing authorities. In the event of an audit, you may be requested to produce all the documents, cancelled checks, and other data that form the basis of income and deductions. These may be necessary to prove the accuracy and completeness of the returns to a taxing authority. IRS audit procedures will almost always include questions on bartering transactions and on deductions that require strict documentation such as travel and entertainment expenses and expenses for business usage of autos and computers. Any proposed adjustments by the examining agent are subject to certain rights of appeal. If an examination occurs, I will represent you if you so desire; however, these additional services are not included in our fee for preparation of your returns and I will render additional invoices for the time and expenses incurred. Certain communications involving tax advice may be privileged and not subject to disclosure to the IRS. By disclosing the contents of those communications to anyone, or by turning over information about those communications to the government, you may be waiving this privilege. To protect this right to privileged communication, please consult with me, or your attorney, prior to disclosing any information about my tax advice. Both parties waive their right to trial by jury in any dispute pertaining to the interpretation, enforcement, or non-performance of this Agreement, including any claim of professional or general negligence that is submitted to the judicial system and agree that the venue of any dispute arising from this Agreement shall be in Knox or pertaining County. Taxpayer acknowledges our tax service is not to monitor compliance with the Bank Secrecy Act of 1970 (Title 31).
In Addition, taxpayer has followed all cash reporting requirements of Title 31 and Internal Revenue Code Form 8300. Taxpayer has advised my Tax Service of any foreign bank accounts the taxpayer holds. Under the provisions issued by the U S Treasury Department and the Internal Revenue Service in Circular 230, Level Two Procedures will not be followed when issuing tax advice. and furthermore, the following statement will be attached to all written tax advice:
Unless otherwise indicated, any tax guidance contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties that may imposed under the Internal Revenue Code or any other applicable tax law, or (ii) promoting, marketing, or recommending to another party any transaction, arrangement or other matter. This advice is not intended or written to be used, and cannot be used by you for the purpose of avoiding federal tax penalties that may be imposed on you. FEES: My fees for tax services will be based upon the amount of time required at our usual and customary billing rates. Out-of-pocket costs such as typing, postage, or travel, etc. are not billed separately; however, excessive or unusual costs of this nature will be billed at our usual and customary hourly rates.
Payment for services rendered is due upon receiving the return. If the return is not paid for at the time of receipt, a $5.00 Monthly service charge and interest at an annual rate of 18% will be charged on balances not paid within (30) days.
I will provide you with one copy of your return for your records. If an additional copy is needed at a later date, there will be a $5.00 per return charge. The terms of this letter will continue to apply to the preparation of the above returns with respect to subsequent years, unless amended or terminated in writing by either of us. If the foregoing correctly sets forth you understanding our tax engagement, please sign and date the original of this letter in the Spaces below and return it to my office.
I want to express my appreciation for this opportunity to work with you.
Volqueen’s Bookkeeping and Tax Service