Annual Tax Due Dates:
- Individual (1040) April 15th or next business day
- Partnership/S-Corporation (1065/1120S) March 15th or next business day
- C-Corporation (1120) April 15th or next business day
- Tax Exempt (990) May 15th or next business day (or 4.5 months after fiscal year end)
In order to complete your returns by the due dates, we require all applicable information to be received by:
- Individual (1040) March 15th or next business day
- Partnership/S-Corporation (1065/1120S) February 15th or next business day
- C-Corporation (1120) March 15th or next business day
- Tax Exempt (990) April 15th or next business day (or 3.5 months after fiscal year end)
If all tax documentation is not received by Momentum's internal deadlines listed above, we cannot guarantee returns will be completed by the due date and an extension will be filed electronically.
Extension Due Dates:
- Individual (1040) October 15th or next business day
- Partnership/S-Corporation (1065/1120S) September 15th or next business day
- C-Corporation (1120) October 15th or next business day
- Tax Exempt (990) November 15th or next business day (or 10.5 months after fiscal year end)
In order to complete your EXTENDED returns by the due dates, we require all applicable information to be received by:
- Individual (1040) September 15th or next business day
- Partnership/S-Corporation (1065/1120S) August 15th or next business day
- C-Corporation (1120) September 15th or next business day
- Tax Exempt (990) October 15th or next business day (or 4.5 months after fiscal year end)
We will perform services only as needed to review, revise, or prepare your tax returns. We will use our judgment to resolve questions in your favor where the tax law is unclear or where there are conflicts between the taxing authorities' interpretation of the law and what seem to be other supportable positions. There may be situations where we are required by law to disclose a position on a tax return. We are not attorneys, therefore, we cannot provide you with a legal opinion on various tax positions. We can, however, advise you of the consequences of different positions. We will adopt whatever position you request on your returns so long as it is consistent with our professional standards and ethics. In the event, however, that you ask us to take an unsupported tax position or refuse to make any required disclosures, we reserve the right to withdraw from the engagement without completing or delivering the tax returns. Such withdrawal would complete our engagement and you agree to pay our fees based on time expended (at our standard rates) plus all out-of-pocket expenses through the date of withdrawal.
Taxpayers are required to maintain all the documents that form the basis of income, deductions, credits and payments shown on the return. In addition, some items have specific substantiation requirements set forth by the IRS (e.g., auto, meals & entertainment, charitable contributions over $250, etc.). If you have any questions as to the type of records required, please ask us for advice in that regard. Your signature on this letter confirms that we have advised you of the record keeping requirements.
Taxpayer is responsible for the reliability, accuracy and completeness of the tax returns and/or accounting records and disclosure of all material and relevant information. Taxpayer is required to arrange for reasonable access by us to relevant individuals and documents and shall be responsible for both the completeness and accuracy of the information supplied to us. Any advice given to taxpayer is only an opinion based on our knowledge of taxpayer's particular circumstances. You have the final responsibility for all tax returns and should review all tax-return documents carefully before signing them.
THE LAW IMPOSES PENALTIES WHEN TAXPAYERS UNDERESTIMATE THEIR TAX LIABILITY. PLEASE CALL US IF YOU HAVE CONCERNS ABOUT SUCH PENALTIES.
Your returns may be selected for audit by a taxing authority. Any proposed adjustments are subject to appeal. In the event of a tax examination, we can arrange to be available to represent you. Such representation will be a separate engagement for which an engagement letter will be provided to you. Fees and expenses for defending the returns will be invoiced in accordance with terms we agree on for that engagement.
If Momentum finds incomplete records or additional services required in order to prepare the returns, those additional services will be billed at current hourly rates. Examples of this include bookkeeping, totaling amounts/receipts, repeated and unanswered attempts at communication.
Furthermore, taxpayer will agree that if an unanticipated need arises (such as an audit, an amended tax return or a personal financial statement required as part of a loan agreement), this additional work will be performed only after arriving at a mutually agreed-upon price and an engagement letter is accepted with a digital signature.
Momentum Tax & Financial LLC will always stand behind the quality and professional nature of the services that we offer. If at any point you are not completely satisfied with the services we have performed, we encourage you to bring this to our attention immediately. We’d love the opportunity to address your concerns and allow us a chance to win your trust back and prevent similar problems from happening in the future.
If you are still not satisfied with the outcome of our services, we will work towards a mutual agreement regarding the payment for services completed.
Our fee for tax preparation will be based on the time and expertise required at the standard hourly billing rates, plus any out-of-pocket expenses. Invoices are due and payable upon presentation of completed returns and must be paid in full before any returns will be released or filed electronically. RETURNS CANNOT BE FILED ELECTRONICALLY UNTIL NECESSARY AUTHORIZATIONS ARE SIGNED BY ALL REQUIRED PARTIES AND PAYMENT IS RECEIVED IN FULL. To the extent permitted by state law, a finance charge may be added to all accounts not paid within thirty (30) days.
All original documents obtained from the client arising from the engagement shall remain the property of the client. However, we reserve the right to retain electronic copies of the original documents for our records. Momentum Tax & Financial LLC shall own and retain all notes, reference material generated, or other internal documentation necessary for the provision of the services. Taxpayer shall own all reports or resulting documents arising from completion of these services. You should securely store these records, along with all supporting documents, canceled checks, etc., as these items may later be needed to prove accuracy and completeness of a return. We will retain digital copies of your records and our work papers for your engagement for seven years, after which these documents will be destroyed.
Our engagement to prepare your tax returns will conclude with the delivery of our analysis of your return along with any recommended clarifications or corrections. IF YOU HAVE NOT SELECTED TO E-FILE YOUR RETURNS WITH OUR OFFICE, YOU WILL BE SOLELY RESPONSIBLE TO FILE THE RETURNS BY MAIL WITH THE APPROPRIATE TAXING AUTHORITIES.
In conducting this engagement, information acquired by Momentum Tax & Financial LLC, in the course of the engagement is subject to strict confidentiality requirements. This confidential information shall include any personal identifying information, tax numbers, financial data, and all the information requested by Momentum Tax & Financial LLC, in order to complete the services. All such information shall be protected under best efforts and using the best technology and resources reasonably available.
That information will not be disclosed by us to other parties except as required or allowed for by law, or with your express written consent. This includes if you desire having Momentum Tax & Financial LLC provide information, consult with, or otherwise collaborate with other professionals, such as financial advisors, attorneys, bankers, or any other relevant professions.
It is our policy to keep records related to this engagement for seven years. However, Momentum Tax & Financial LLC does not keep any original client records, so we will return those to you at the completion of the services rendered under this engagement. When records are returned to you, it is your responsibility to retain and protect your records for possible future use, including potential examination by government or regulatory agencies.
We do not disclose any non-public personal information about our clients or former clients to anyone, except as instructed to do so by such clients, or as required by law. We restrict access to non-public personal information to those professionals necessary to prepare and review your completed work and we maintain physical, electronic, and procedural safeguards to guard your non-public personal information.
By signing this engagement letter, you agree to authorize us to prepare your income tax returns and to indemnify us and hold us harmless from any liability and costs from misrepresentations of any item you have supplied to us.
Thank you for this opportunity to serve you. We look forward to a long and prosperous professional relationship!