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122872545720002000043014901675765400000right0000777932700Client Name(s) _________________________________________center2625090Thank you for selecting Insert Preparer Name (hereafter referred to as the “firm”) to prepare your individual income tax return for the current tax year. We appreciate the opportunity to be of service to you and are pleased to confirm our understanding of the arrangements regarding the preparation of such return(s). This agreement confirms the tax services you have asked our firm to perform and the terms under which we will perform that work. Please read this letter carefully. It is important to both you and our firm, that you understand what you can and cannot expect from our firm. lf you have any questions or concerns, please make sure they are addressed and answered prior to signing this engagement agreement.This engagement letter represents the entire agreement regarding the services described herein and supersedes all prior negotiations, proposals, representations or agreements, written or oral, regarding these services. It shall be binding on the heirs, successors and assigns of you and us. The Internal Revenue Service (IRS) imposes penalties on taxpayers as well as return preparers for failure to observe due care in reporting information on tax returns. The taxpayer is responsible for providing us with all information necessary to identify all states and localities in which the taxpayer receives wages, compensation, conducts business or otherwise derives income from. In order to ensure an understanding of our mutual responsibilities, we ask all clients for whom we prepare tax return(s) to confirm the following arrangements.We will prepare your current Federal Individual Income Tax, Form 1040 and all related and/or required State Income Tax forms and all related schedules, from information you furnish or disclose to us. Please indicate the SPECIFIC state returns you require by inserting the State names here: _____, _____, _____, _____, _____, _____, _____. We do not prepare local or city tax filings. If a city or local area return is required, it will remain your responsibility to see that it is completed and timely filed. If you have income tax filing requirements for any other purpose or state but do not file the return(s), there could be possible adverse ramifications such as an unlimited statute of limitations, penalties, etc. Please inform us if you have other tax filing obligations that you would like our assistance with.We are responsible for preparing only the specific individual income tax forms for the specified reporting agencies listed in this letter. Any other required services, forms or other actions on our part require a separate engagement letter. In the absence of written communications from us documenting such services, our services will be limited to and governed by the terms of this engagement letter. Our services are not intended to determine whether you have filing requirements in taxing jurisdictions other than the one(s) of which you have requested in the above paragraph.You may request that we perform additional services not contemplated by this engagement. If this occurs, we will communicate with you regarding the scope and estimated cost of these additional services, otherwise, our services will be limited to and governed by the terms of this agreement.We DO NOT automatically file tax extensions for clients. You MUST notify us in writing, email or fax, on or before April 1, if you wish us to file an extension. The notification should include YOUR estimate of any balance of tax due with the extension(s) – both federal and state (if applicable). Failure to file an extension may make you subject to various penalties and interest. Additionally, if your return is extended, it does not relieve you from paying any tax due on the due date or making quarterly estimated tax payments for the current year. Failure to pay any tax due with the extension or failure to pay the quarterly estimated tax payments may make you subject to various penalties and interest.Tax preparation services are performed in-house and not outsourced to third parties. We will make no examination or other outside verification of the data you have submitted or which we compile from your record- keeping system. We may ask for clarification of some information and may make adjustments to reflect corrections in the recording of data. We may furnish you with tax organizers and questionnaires to help you gather and organize the necessary information for use in preparing your tax return. It is expressly agreed that you will furnish all income and expense amounts, and you accept full responsibility for the accuracy and completeness of the information used in preparation of the return(s). It is our policy to keep records related to this engagement for three years, after which they are destroyed. We do not keep any original client records, as we return those documents to you when your tax return is completed as required by IRS regulations. It is your responsibility to retain and protect your records for possible future need, including potential examination by any government or regulatory agency.Please do not respond to or click on any links in emails purportedly from the IRS. The IRS never initiates correspondence via email and any such emails are attempts to steal your identity. Additionally in order to protect your identity we will verify your ID, birthdate and social security number when you call or visit our office.Per IRS regulations, we must give you a copy of your tax return (either on paper or in electronic format). If you require additional copies of your tax return at a later date, a minimum handling fee of $50.00 per copy, per year, plus postage, will be assessed and will be required to be paid in advance of releasing said copies. (IRS charges $50 for each copy requested, and take up to 75 days to process your request). Please note that copies of jointly filed returns can be requested by either spouse of a jointly filed tax return. Due to IRS regulations effective 1/1/2009, we will not provide copies of your tax return to any third party or discuss the contents of any return with any third party unless required by law. Any worksheets, spreadsheets or supporting schedules created by our office in the necessary course of preparing your tax return remain the sole property of Insert Preparer Name and will remain in our possession. We will not verify the data you give us, although we may ask you to explain some of it. We will rely on the documentation you supply to us from third parties such as W-2s, K-1s and Forms 1098 or 1099, receipts and similar items.It is expressly agreed, that you will furnish all income and expense amounts (as applicable) and you accept full responsibility for the accuracy and completeness of the information used in preparation of the return(s). If you will be claiming deductions for auto, travel, other business expenses, itemized deductions, charitable contributions or other itemized deductions, it is your responsibility to satisfy the required documentation rules for these expenses and your signature on this agreement, indicates that you understand and are complying with these requirements. If you will be claiming a Child Tax Credit (CTC), American Opportunity Credit (AOTC), or Earned Income Credit (EIC), or filing as Head of Household, you should be aware of additional IRS due diligence rules and requirements. All taxpayers claiming any of the items will be required to produce additional IRS forms and the required documentation. Your signature on this agreement indicates that you understand and are complying with these requirements. Please visit our website at INSERT YOUR WEBSITE for helpful information.If you have derived income from a foreign country, we will use the foreign country income information which you provide to calculate any applicable U.S. federal or state foreign tax credits or other applicable federal or state tax items; however, you (the taxpayer) will remain responsible for reporting and paying any foreign country income tax and meeting all foreign (non-U.S) reporting requirements.If you have a financial interest in, or signature or other authority over bank accounts, securities, or other financial accounts (See Appendix A) having a value exceeding $10,000 (at any time during the year) in a foreign country, you are required to report such a relationship to the U.S. Dept. of Treasury. If you fail to disclose the required information on a timely basis, the failure to disclose may result in substantial civil and/or criminal penalties, the minimum fine being $10,000. Please note, there are new filing requirements (Form 8938 and/or FinCen Form 114-FBAR – due on or before April 15th) for any individual or business holding interests in specified foreign financial assets during the year which MUST BE attached to your personal tax return. Therefore, we require all taxpayers to complete Appendix-A of this agreement to provide us with information regarding the existence of these types of accounts.In addition, currently the Internal Revenue Service, under IRC §6038 and §6046, requires information reporting if you are an officer, director or shareholder with respect to certain foreign corporations (Form 5471); foreign-owned U.S. corporation or foreign corporation engaged in a U.S. trade or business (Form 5472); U.S. transferor of property to a foreign corporation (Form 926) and, for taxable years beginning after March 18, 2010, if you hold foreign financial assets with an aggregate value exceeding $50,000 (Form 8938). Therefore, if you fall into one of the above categories you may be required to file one of the above listed forms. Failure to timely file may result in substantial monetary penalties. By your signature below, you accept responsibility for informing us if you believe that you fall into one of the above categories and you agree to provide us with the information necessary to prepare the appropriate form(s). We assume no liability for penalties associated with the failure to file or untimely filing of any of these forms.Pursuant to standards prescribed in IRS Circular 230 and IRC §6694, we are forbidden from signing a tax return unless we have a reasonable belief that there is substantial authority for a tax position taken on the return and unless we disclose this tax position on a separate attachment to the tax return. However, under no circumstances may we sign a tax return with a tax position that has no reasonable basis. If the Internal Revenue Service should later contest the position taken, there may be an assessment of additional tax plus applicable penalties and interest. We assume no liability for any such additional penalties or assessments.We will use professional judgment in preparing your returns. Whenever we are aware that an applicable tax law is unclear or that there are conflicting interpretations of the law by authorities, we will explain the possible positions that may be taken on your return. We will adopt whatever position you request on your return as long as it is consistent with the codes, regulations or interpretations that have been promulgated. When you sign a tax return, your signature indicates that, “under penalty of perjury, you have examined the return and to the best of your knowledge and belief, it is true, accurate and complete.” Please remember, you have the final authority for your tax return. It is your responsibility to carefully examine and approve your completed tax return(s) BEFORE signing the electronic filing authorization or BEFORE mailing your returns to tax authorities. We are not responsible for the disallowance of doubtful deductions or inadequately supported documentation, nor for resulting taxes, penalties or interest. Your return may be selected for examination by the Internal Revenue Service or other State taxing authorities. Any item resolved against you is subject to certain rights of appeal. We are available to represent you at audit; those additional services will be covered by a separate engagement agreement and billed at representation rates. If any tax, interest, or penalties are assessed, they will be your responsibility only. Your tax return will be prepared solely for submission to Federal and/or State income tax authorities.In the interest of facilitating our services to you, we may communicate by fax transmission or send electronic mail over the internet (email). Such communications may include information that may be confidential to you; however, we will NOT email any tax returns or tax documents containing social security numbers. (Refer to Appendix B for further details)While we will use our best efforts to keep such communications secure in accordance with our obligations under applicable laws and professional standards, you recognize and accept that we have no control over the unauthorized interception of these communications once they have been sent, and you consent to our use of these devices during this engagement. For your convenience and safe-keeping, we do provide a secure and web-based option known as Secure Drawer (see Appendix C) for the electronic storage of your tax documents. Our fees are based on the time, complexity and forms required for your particular tax return. Our minimum fee to prepare an individual federal income tax return is $445. The tax preparation fee covers the preparation of your personal tax return ONLY. Our fee does not include responding to inquiries or examination by taxing authorities, misprocessing of your return by the IRS or other government agency or any tax identity theft issues. However, we are available to represent you in such matters and our fees for such services are at our standard rates for those services. Such services would be covered under a separate engagement agreement.The fee for preparing your return does not include services rendered in connection with phone consultations, tax research, tax planning, tax authority letters or other letters. Any bookkeeping services required in order to complete a tax return will be specific to each taxpayer and fees for those services will be separately stated on the invoice. We reserve the right to ask for advance fees, payable prior to commencement of any work being performed. Given the complexity of tax return preparation when advance fees are required, such funds are earned at the time they are paid and are non-refundable. Advanced fees received under this agreement apply only to the services covered by this agreement and are not transferrable.Any fees due in excess of advance fees paid are due and payable when you pick up your return for review or prior to your return being sent to you via mail, electronic Secure Drawer or other form of delivery. Since we sign your tax return in the capacity as the "Paid Preparer," NO tax returns will be released from our office unless they are paid for in full. Due to the significant increase in preparer regulations by the IRS, there will be NO exceptions to this policy. If you terminate this agreement before completion, you agree to pay a fee for work completed. All advance fees paid are considered earned when paid and will not be refunded.Appendix – A IRS REPORTING REQUIREMENT – DISCLOSURE OF FOREIGN ASSETS*Congress has passed harsh penalties for not attaching a Foreign Asset “disclosure” Form to your personal tax return. We are now required to make further inquiries to ensure the minimum $10,000 penalty, and the loss of tax return statute of limitations, will not affect our taxpayers. Please indicate who owns the account, Taxpayer (TP), Spouse (SP) or Jointly- owned (JT). Please note that US Citizens and Resident Aliens are required to report worldwide income.If you and/or your entity have a financial interest in any foreign accounts, you are also responsible for filing Form FinCen 114 required by the U.S. Department of the Treasury on or before April 15th of each tax year. US citizens are required to report worldwide income on their US tax return.Yes No Owner___ ___ _____Do you own directly or with others any foreign stock or foreign, financial instruments, foreign-issued annuities, foreign hedge and private-equity funds?If so, what country? _________________________________________Estimated value of the stock 12/31 of the tax year __________________________ ___ _____Do you have a retirement plan/account in another country?If so, what country? _________FMV on 12/31 of the tax year ___________________Highest estimated value of the retirement plan during the tax year: __________________ ___ _____Do you have a bank/brokerage account or a custodial account in another country? Highest value of the bank account during the year: ____________________ ___ _____Do you have any other assets outside the US such as land?If so, what country? __________________________________________Description and estimated value of the assets : __________________________________________________________________________________ ___ _____Have you received ANY income from a foreign source that you have not reported to us for the current tax year?___ ___ _____Do you have an online gambling account? If so, this account is most likely in a foreign country and needs to be disclosed. Information pertaining to this account needs to be provided.My/Our initial(s) below indicates that the above information is true and correct to the best of my/our knowledge. I/We understand that if we do not provide the firm with information regarding any interest, I/We may have in a foreign account, the firm will not be able to prepare any of the required Income Tax related forms, and penalties may be due, and the firm will have no responsibility for such omissions or related penalties and/or interest.Please note - if a joint return will be filed, BOTH Taxpayer AND Spouse MUST INITIAL THIS FORM.*For additional information on this subject, visit the IRS website at: – BPrivacy PolicyRev. January, 2020The Gramm-Leach Bliley Act of 1999 requires all Tax Professionals to state their privacy policy on an annual basis. Like all providers of personal financial services, tax professionals are required by law to inform clients of their policies regarding privacy of client information. Our firm continues to adhere to professional standards of confidentiality that are even more stringent than those required by law. We have always protected the security and privacy of your personal and financial information.Types of Nonpublic Personal Information We Collect – The nature of our work requires us to collect certain nonpublic information. We collect personal and financial information from applications, worksheets, reporting statements and other forms, as well as interviews and conversations with our clients and affiliates. We may also review banking and credit card information about our clients in the performance of receipt of payment. Under our policy, all information we collect is provided to us by you or obtained with your authorization.Parties to Whom We Disclose Information - We do not disclose any nonpublic personal information obtained in the course of our practice except as required or permitted by law. Permitted disclosures may include providing information to our employees or third party providers necessary to provide our services to you or who need to know this information in order to complete the work you have hired our firm to do. In all situations, we stress the confidential nature of the information being shared.Protecting the Confidentiality and Security of Clients' Information - We retain records relating to our professional services to better serve your professional needs and, in some cases, to comply with professional guidelines. In order to protect your nonpublic personal information, we maintain physical, electronic, and procedural safeguards that comply with our professional standards.If the disclosure of information obtained during the process of preparing your tax return should, in our opinion and discretion, needs to be disclosed for your health and well-being, we will impose this exception to the privacy policy of Lynco Financial & Tax Services, Inc. under the Good Samaritan Act.We appreciate the confidence you have placed in our firm and we pledge to safeguard the confidentiality of your records and information provided by you.Please note - if a joint return will be filed, BOTH Taxpayer AND Spouse MUST INITIAL THIS FORM.Appendix – COur Secure Client Center (INSERT NAME OF YOUR ELECTRONIC STORAGE TOOL) - file transfer system) InformationSince 2011, the IRS requires that all tax returns be filed electronically and also added layers of new electronic storage requirements. Additionally, many states have passed legislation that makes it illegal for a tax preparer to email tax or financial information due to the lack of security.In the interest of facilitating our services to you, we utilize a secure web portal. Your use of this portal must comply with our standards of use, and as owners of the portal we retain the right to limit and deny use of the portal for inappropriate purposes. Unless we are providing your firm with ongoing monthly accounting and bookkeeping services, your access to files maintained on the portal will be terminated no later than 30 days after the earlier of your or our termination of services under this agreement or 30 days after the due date of your tax return (including extensions). The portal is password protected. While we will use our best efforts to keep such communications secure in accordance with our obligations under applicable laws and professional standards, you recognize and accept that we have no control over the unauthorized interception of these communications once they have been sent and consent to our use of these devices during this engagement. Here is what we will provide to you on your secure web portal:Secure online access to 3 years of copies of your 1040 tax returns and supporting documents in PDF format as long as you remain a current client in good standing.A secure location for you to back up your own personal financial information as you wish (within our storage limits).The ability for you to securely upload requested personal tax information to our office without needing a fax machine, a visit to the post office, or getting in your car to drive to our office.All data is kept safe and secure on state-of-the-art, fully redundant servers that are backed up on a regular basis.The peace of mind in knowing that whatever natural or other disaster may occur (fire, hurricane, storm of the century, flood, theft, etc.) your personal tax documents are available to you at any time you can access the internet. There are no additional fees charged to individual tax preparation clients for establishing or utilizing our INSERT NAME OF YOUR ELECTRONIC STORAGE TOOLTo access your online client center, simply visit our website at Enter Your Firms electronic file storage address and log-in using your email address and password. If you need to register, please contact our office, and we will be glad to establish your INSERT NAME OF YOUR ELECTRONIC STORAGE TOOL for you.In recognition of the relative risks and benefits of this agreement to both the client and the firm, the client and the firm have agreed on the fair allocation of risk between them. As such, the client agrees, to the fullest extent permitted by law, to limit the liability of the firm to the client for any and all claims, losses, costs, and damages of any nature whatsoever, so that the total aggregate liability of the firm to the client shall not exceed the firm’s total fee for services rendered under this agreement. The client and the firm intend and agree that this limitation applies to any and all liability or cause of action against the firm, however alleged or arising, unless otherwise prohibited by law. Both parties agree that there is a one-year limitation period to bring a claim against the firm for errors and omissions. The one-year period will begin upon the date of signing of this agreement.This engagement agreement represents the entire agreement regarding the services described herein and supersedes all prior negotiations, proposals, representations or agreements, written or oral, regarding these services. It shall be binding on the heirs, successors and assigns of you and our firm. Notwithstanding anything contained herein, both the tax preparer and taxpayer agree that regardless of where the client is domiciled and regardless of where this Agreement is physically signed, this Agreement shall have been deemed to have been entered into at the tax preparer’s office located in YOUR County, YOUR STATE, USA, and YOUR COUNTY, YOUR STATE, USA, shall be the exclusive jurisdiction for resolving disputes related to this Agreement. This Agreement shall be interpreted and governed in accordance with the Laws of YOUR STATE.We will consider our services to be engaged effective with the signing of this agreement, and we will only initiate our services AFTER we receive this executed agreement. We will consider our services to be completed as soon as we receive a completed e-file signature document (Form 8879) for the current tax year, signed by all taxpayer(s) who are party to this agreement. Upon completion of our services, your original documents will be made available to you. If a return cannot be electronically filed (according to IRS rules and regulations), then the engagement will be completed upon the presentation of the tax return to the taxpayer(s) who are party to this agreement.Please initial the bottom of each page of the agreement and sign and date the engagement agreement below to acknowledge your understanding of the terms and acceptance of your responsibilities of this engagement. It is our policy to initiate service after we receive the signed and executed engagement agreement and any required advance fees have been paid. Please keep a copy of this agreement for your records. If any provision of this agreement is declared invalid or unenforceable, no other provision of this agreement shall be affected and all other provisions remain in full force and effect.We appreciate the opportunity to serve you. We are pleased to have you as a client and look forward to a long and mutually satisfying relationship. Sincerely,Preparers NameEnrolled AgentPreparer’s Firm NamePLEASE NOTE: IF THIS IS A JOINTLY FILED TAX RETURN, BOTH TAXPAYER AND SPOUSE MUST SIGN AND DATE THIS AGREEMENT. My/our signature(s) below indicate that I/we have read, understood and provided truthful, complete and accurate information. I/We acknowledge that I/we have reported all 2019 income received including barter, crypto-currency, consumer-to-consumer activity, cash based revenues and all other income whether received in-person, in-kind, or electronically. I/we also confirm that I/we have or will timely file any applicable Forms W-2 and W-3 with the Social Security Administration and IRS for business employees or home workers.________________________________________________________________________________________Print Taxpayer NameTaxpayer SignatureDate________________________________________________________________________________________Print Spouse NameSpouse SignatureDate ................
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