Thank you for choosing Mastermind Financial Services to prepare your tax return(s). This Letter of Engagement confirms the terms and conditions of our professional relationship and outlines the nature and scope of services we will provide.
1. Scope of Services
Mastermind Financial Services will prepare your requested federal and/or state income tax return(s) based solely on the information you provide. Our services are limited to tax preparation only and do not include auditing, review, verification of information, or detection of fraud or illegal activity.
2. Client Responsibilities
You are responsible for providing accurate, complete, and timely information, including all income, deductions, credits, and supporting documentation. You acknowledge that it is your responsibility to maintain documentation to substantiate items reported on your tax return.
You are responsible for reviewing your completed tax return(s) carefully before signing and authorizing filing. By signing, you affirm that the information reported is true and correct to the best of your knowledge.
Knowingly providing false information may result in penalties, interest, audits, restitution, court action, or criminal prosecution. You agree to hold Mastermind Financial Services and its preparers harmless from errors resulting from inaccurate or incomplete information you provide.
3. Accuracy of Information
By signing this form, you acknowledge that you have provided accurate, complete, and truthful information to the best of your knowledge. You understand that it is your responsibility to ensure the accuracy of the details provided in this form and any supporting documents.
4. Tax Preparation Services
You understand that the tax preparation services being provided by Mastermind Financial Services are for the purpose of assisting you in preparing and filing your federal, state, and local tax returns. You agree to cooperate fully with your tax preparer and provide all necessary documentation.
5. Tax Liability
You understand that it is your responsibility to pay any taxes owed to the IRS or state taxing authorities. Mastermind Financial Services cannot guarantee any specific tax outcomes, refund amounts, or offsets.
6. Fees, Estimates, and Payment
Tax estimates and consultations are provided at no cost and do not obligate the client to proceed. No tax preparation fees are due unless and until the client reviews, approves, and authorizes Mastermind Financial Services to transmit (electronically or by paper filing) the tax return.
Once the client authorizes transmission of the tax return, all preparation fees become fully earned and due, regardless of whether the return is accepted, rejected, delayed, reduced, offset, or otherwise adjusted by any taxing authority.
7. Refund Offsets & Legal Action
You acknowledge that tax refunds may be subject to federal or state offsets. Mastermind Financial Services has no control over refund timing, amount, or redirection and is not responsible for any delays or reductions.
You further acknowledge and agree that in the event preparation fees or other amounts owed to Mastermind Financial Services are unpaid, we will first seek payment directly from you. If payment is not received, we reserve the right to pursue legal action, including filing a lawsuit or seeking offsets, to recover the amounts owed.
8. Electronic Filing & IRS Communication
You consent to the electronic filing of your tax return, if applicable, and understand that you will receive an electronic copy of your tax return and supporting documents.
You authorize Mastermind Financial Services to communicate with the IRS or state tax authorities on your behalf regarding the preparation and submission of your tax return, if necessary.
9. Retention of Documents
You understand that your tax documents may be retained for the duration required by law. Copies of your tax return or related documents may be requested at any time. Mastermind Financial Services may retain copies of returns and work papers for up to three (3) years, after which they may be destroyed. Paper copies may be provided for an additional fee.
10. Completion of Engagement
Our engagement concludes upon delivery of your completed return(s) or upon your authorization and submission of electronically filed returns. If you choose not to e-file, you are solely responsible for filing your return(s) with the appropriate taxing authorities.
11. Communication Consent
You consent to receive text messages and emails from Mastermind Financial Services regarding your tax return, future services, or opportunities.
12. Termination
Either party may terminate this engagement at any time prior to the client’s authorization to file, with no obligation for payment. If the client authorizes Mastermind Financial Services to transmit the tax return, termination after authorization does not relieve the client of responsibility for payment of all agreed-upon tax preparation fees.
13. Acceptance of Terms
By signing below, you acknowledge that you have read, understand, and agree to the terms of this Letter of Engagement. You authorize Mastermind Financial Services to prepare and file your tax return(s). Your signature on this document is transferable and applies to your tax return filing authorization.