Boundless Bookkeeping & Accounting LLC d/b/a Boundless Tax (herein after "Boundless") appreciates and welcomes the opportunity to provide you (the "client") with tax preparation services.
Boundless will prepare all federal, state, and local income tax returns you request using only the information you provide to us. We may ask for clarification of some items, but we will not audit or otherwise verify the data you submit. It is your responsibility as the client to provide information required for the preparation of complete and accurate returns. You should keep all documents, canceled checks, bank statements, receipts, and other data that support your reported income and deductions. They may be necessary to prove accuracy and completeness of the returns to a tax authority or agency.
You are responsible for the returns, so you should review them carefully before signing them. Our work will not include any procedures to discover defalcations or other irregularities. The only accounting or analysis work we will do is that which is necessary for preparation of your income tax returns. We must use our judgment in resolving questions where the tax laws and regulations are unclear, or where there may be conflicts between the tax authorities' interpretations of the law and other supportable positions. To avoid penalties, we will apply the more likely than not reliance standard to resolve such issues, as suggested by the Internal Revenue Service. You agree to honor our decisions regarding the need to make protective disclosures in your returns. Penalties of as much as $100,000 can be imposed on you, the taxpayer, for failing to disclose participation in reportable transactions, that is, certain arrangements that the Internal Revenue Service has identified as potentially abusive. We will insist that all such transactions be properly disclosed. The law also imposes similar penalties when taxpayers understate their tax liability. If you have concerns about such penalties, please contact us.
Your returns may be selected for audit by a taxing authority. Any proposed adjustments are subject to appeal.
Individual returns (IRS Form 1040):
In the event of a tax examination, a third-party representation firm (Tax Protection Plus LLC) will be available to represent you. The preparation of your individual tax return(s) by Boundless includes representation by Tax Protection Plus LLC in the case of audit by a taxing authority, provided at no additional cost. Additionally, all individual returns prepared by Boundless include a preparer error guarantee. If a taxing authority discovers an error in your tax return(s), and that error is determined to be the fault of Boundless (and not erroneous documentation provided by the client), Boundless and a third-party partner, Tax Protection Plus LLC, will reimburse interest and penalty charges enforced by the tax authority up to $2,500.00.
Business/Organization Returns (IRS Forms 1065, 1120, 1120-S, 990 and/or 990-EZ):
No preparer error guarantee exists for business and organizational tax returns. Additionally, representation in the case of an audit or notice received for businesses and organizations is provided by Boundless directly. This will be billed as a separate engagement with a separate fee structure.
Our fee for preparation of your tax returns will be quoted to you before we begin preparing your returns and will be based on the amount of time required at standard billing rates plus any software fees. All invoices are due and payable upon presentation. An interest charge may be added to all accounts not paid within thirty (30) days of the completion of work. Additionally, uncollectable accounts may be referred to collection agencies after 120 days of non-payment. Please note that your tax returns will not be filed with the proper taxing authorities until our fees invoice is paid in full or other arrangements for payment have been made.
Boundless will retain digital copies of records you supplied to us, along with our work papers and finished tax returns for your engagement for a period of seven (7) years. After this period, our work papers, engagement files, and tax return copies will be destroyed. All your original records will be returned to you at the end of this engagement. Additionally, digital copies of your source documentation and final tax returns may be made available to you in our secure client portal. We advise you to keep the original records and tax return copies in secure storage.
Tax return preparation engagements specifically exclude the following services: bookkeeping services, payroll services, handling of your correspondence, answering to external requests for financial or tax-related documentation, required on-site visits or physical presence of any of our team members, physical gathering of documentation, and/or document archiving beyond our active engagement. Any services not listed in this engagement letter and/or previously agreed upon in writing are implicitly excluded. A formal change order and/or addendum to this agreement would need to be executed before Boundless will perform additional duties.
We are pleased to have you as a client and hope this will begin a pleasant association. Please check the box below to acknowledge your agreement with the terms presented above.
