Thank you for choosing TAX OWL PRO to assist you with your 2017 taxes. This letter confirms the terms of our engagement with you and outlines the nature and extent of the services we will provide.
We will prepare your 2017 federal and state income tax returns. We will depend on you to provide the information we need to prepare complete and accurate returns. We may ask you to clarify some items 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 the efficient preparation of your returns and help minimize the cost of our services.
We will perform accounting services only as needed 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 inform you of any material errors, fraud, or other illegal acts we discover.
The law imposes penalties when taxpayers underestimate their tax liability. Call us if you have concerns about such penalties.
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 engagement to prepare your 2017 tax returns 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 for filing the returns with the appropriate taxing authorities. Review all tax-return documents carefully before signing them.
Our fee is based on the time required at standard billing rates plus out-of-pocket expense. Invoices are due and payable upon presentation of your completed tax return.
We will return your original records to you at the end of this engagement. Storage of these records, along with all supporting documents, canceled checks, etc., will be in a secure location in case these items are needed later to prove accuracy and completeness of a return. We retain copies of your records and our work papers of your engagement for seven years, after which these documents will be destroyed.
To affirm that this letter correctly summarizes your understanding of the arrangements for this work, please sign and date in the spaces indicated below.
Thank you for the opportunity to be of service.
