Thank you for choosing BTC Financial Solutions, LLC to assist you in preparing your tax return(s). This letter specifies the terms of our engagement with you, the taxpayer, and outlines the nature and extent of the services we will provide, as well as, confirms an understanding of our mutual responsibilities for accurate preparation of your tax return .
We will prepare your federal and state personal and/or business income tax return(s) based on the information you provide. We may ask for clarification of some information, but will not audit or otherwise verify the data you submit.
An organizer is enclosed to help you collect the data required for your return. The organizer will help you avoid overlooking important information. By using it, you will contribute to efficient preparation of your returns and help minimize the cost of our services.
We will not perform accounting services to prepare your tax returns. Our work will not include procedures to find defalcations or other irregularities. Accordingly, our engagement should not be relied upon to disclose errors, fraud, or other illegal acts, though it may be necessary for you to clarify some of the information you submit. We will, of course, inform you of any material errors, fraud, or other illegal acts we discover. Should we encounter instances of unclear tax law, or of potential conflicts in the interpretation of the law, we will outline the reasonable courses of action and the risks and consequences of each. We will ultimately adopt, on your behalf, the alternative you select.
Our fee will be based on the forms necessary and complexity of your return. Invoices are due and payable upon presentation. To the extent permitted by state law, an interest charge may be added to all accounts not paid within thirty (30) days. If using refund transfer option to pay fees due and payable to BTC Financial Solutions, LLC, in the event that fees are unpaid due to other debt requirements or any other unforeseeable situations, you authorize BTC Financial Solutions, LLC to collect funds due and payable via ACH debit from account on file until funds are recouped. It is your responsibility to review your returns before they are filed to determine that all income has been correctly reported and that you have substantiation for your deductions. You must pay the balance owed for our services and provide a signed e-file authorization to assure the return is filed by the due date.
To assure completion by April 18, 2023 (tax due date) we must have all information by March 31, 2023. To assure completion by the extended deadline of October 15, 2023 we must have all information by October 1, 2023. If you know you will need an extension, please let us know now. An extension gives you additional time to file your tax return. An extension DOES NOT extend the time to pay the taxes owed. Penalties and interest are applied to taxes paid after the April 15th due date. If you need an extension and think you may owe please give us as much information as you can or let us know how much, if any, you can pay with the extension.
We will return your original records to you at the end of this engagement. 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 copies of your records and our work papers for your engagement for three years, after which these documents will be destroyed. We recommend that you retain records for 7 years.
Our engagement to prepare your tax return(s) will conclude with the delivery of the completed returns to you (if paper-filing), or your signature and our subsequent submittal of your tax return (if e-filing). If you have not selected to e-file your returns with our office, you will be solely responsible to file the returns with the appropriate taxing authorities. Review all tax-return documents carefully before signing them.
Additional copies of your return requested are an additional fee of $25.00 per copy. Also there will be a $175.00 charge for all personal returns that the preparation work is done for and client chooses to not allow us to e-file the return, and $250.00 charge for all business returns that are likewise.
This engagement does not include work for accounting, tax planning or tax representation which includes but not limited to state/federal audits, liens, levies, garnishments or correspondence etc. To affirm this letter correctly summarizes your understanding of the arrangements for this work, please sign this letter in the space indicated and submit below. We appreciate your confidence in us. Please call or email if you have any questions.
Updated January 1, 2023