Dear client,
I am pleased to have this opportunity to assist you with your 2024 income tax return preparation. This letter will confirm the understanding between you and Apexvista Tax Consulting, LLC concerning tax services I will provide. I will prepare 2019, 2021, 2022, 2023 and 2024 federal and state (if required by your residency state) income tax returns from information you provide to us.
I will review your current federal and state income tax returns. I will depend on you to provide the information I need to complete an accurate assessment and provide recommendations. I may ask you to clarify some items but will not audit or otherwise verify the data you submit. Review or revision of prior year(s) returns is also available at an additional charge.
I will perform services only as needed to review, revise or prepare your tax returns. My work will not include procedures to find misappropriated funds 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. I will, of course, inform you of any material errors, fraud, or other illegal acts I discover.
The law imposes penalties when taxpayers underestimate their tax liability. Please call us if you have concerns about such penalties.
I will file extensions only upon your request, or if I will be unable to complete your return, by the due date. I will need to have all your information at least fifteen days before any deadlines to ensure your return will be filed on time.
If I do not have all the information needed to complete your return 2024 tax return, it will be necessary to file an application for an extension. This may require a tax payment made by you by April 15th, 2025, in an amount approximating your unpaid tax liability. The exact amount may differ upon receipt of any subsequent information necessary to complete the return. Any amounts not paid by the filing deadline are subject to interest and late payment penalties. All interest and late payment penalties are your responsibility, but I will assist in verifying the accuracy. This includes any additional fees for the extension as well as any penalties and/or interest that might be due because of the late payment.
Should I encounter instances of unclear tax law, or of potential conflicts in the interpretation of the law, I will outline the reasonable courses of action and the risks and consequences of each. I will ultimately adopt, on your behalf, the alternative you select.
Our fees will be in the sum of $10.000.00, with a deposit of $2,500.00. Balance of invoices are payable at the time of presentation. To the extent permitted by state law, an interest charge may be added to all accounts not paid within thirty (30) days.
I 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. I will retain 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 with the appropriate taxing authorities. Review all tax-return documents carefully before signing them.
Your tax returns may be selected for review by the taxing authorities. Any proposed adjustments resulting from that review are subject to certain rights of appeal. In the event of such government review or tax examination, I will be available upon request to represent you. I may charge additional fees for the time and expenses incurred.
If you or Apexvista Tax Consulting, LLC becomes aware of an error or omission on your tax return, and an amendment is necessary, I will prepare the appropriate amendments based upon the information and/or supporting documentation provided to us. It will be your responsibility to file the return and pay any additional tax that is due. As the taxpayer, you will be responsible for any additional taxes, interests and penalties that result from an amendment or adjustment to your tax return.
As additional consideration for us to provide you these services, you agree that the extent of our liability for damages to you for any actions taken will not exceed the total amount actually paid by you for our services. Unless a fraud claim is asserted, you agree that this will be your only remedy and you hereby waive any other claims you have now or in the future for actual, incidental, and consequential damages, including, but not limited to, lost profits and third‐party claims.
Regardless of the location of your residence or business, the Davidson County Circuit Court, the State of Tennessee, or the appropriate federal district court having venue, will have jurisdiction over all controversies that might arise regarding this agreement.
It is agreed by us that there are no other agreements or understandings between us relating to the subject matter of this engagement agreement and that it supersedes all prior income tax return engagement agreements and the like, either written or oral, that exist or may have existed for the 2024 tax year.
Neither this engagement agreement nor its execution have been induced by any reliance, representation, stipulation, warranty, agreement, or understanding of any kind other than those expressed in this agreement. No change or modification of this engagement agreement shall be valid unless made in writing and signed by the parties.
Either of you or Apexvista Tax Consulting, LLC may cancel this engagement at any time by any form of written or electronic notice. If you cancel and I have performed any work prior to our receiving your cancellation notice, you agree to pay us for such work performed based upon our current rate schedule. I may use any deposits or payments already received and apply them to your account.
By signing this engagement letter and your tax return you are agreeing that all income has been reported to us to be included on your return. Additionally, you are signing that you have all necessary documentation to support any deductions that you are claiming, as well as to support your ability to claim any credits that you are eligible for as well as documentation to substantiate eligibility for and the amount of credits claimed on your return should your return be selected for audit.
Lastly, you are signing that you are confirming that you have disclosed if you have received (as a reward, award or payment for property or services), sold, exchanged, gifted, or otherwise disposed of a digital asset (or financial interest in a digital asset) during the tax year.
Having read and fully understood the engagement letter, I/We agree to engage Apexvista Tax Consulting, LLC in accordance with the terms indicated above and understand that the fees we are charged do not include auditing, review, or any other verification. If a business return is also being prepared, I/We declare that I/We have the authority to sign this engagement letter for my or our business. I/We understand that if non-reimbursed employee expenses were claimed, my or our employer will be willing to provide a written statement regarding these expenses. I/We declare that the forms and information I provided to Apexvista Tax Consulting, LLC are to the best of my knowledge true, correct, and complete. It is also my or our responsibility to review and understand the information shown on the returns prior to signing and filing them.
To affirm that this letter correctly summarizes your understanding of the arrangements for this work, please sign this letter in the space indicated.
