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Terms

Accuracy Guarantee, Audit Protection & Engagement Terms

True Wealth Accuracy Guarantee

True Wealth stands behind our work. If you provided us all that we needed in a timely fashion to accurately prepare your return and we made a mistake, we will fix it at our expense. This may include filing an amended return or responding to notices from tax authorities. If you incur interest or penalties due to our error, we will pay those on your behalf. You just pay the tax you would have otherwise owed.

True Wealth Audit Protection

Though no mistake may be made on your return, you may still receive notices from taxing authorities that require your response. The IRS, states, and city taxing authorities are understaffed and commonly send letters to taxpayers seeking more money.

True Wealth Audit Protection provides you with peace of mind of knowing we have your back. We will represent you in exams concerning tax returns or tax forms prepared by our firm to the extent we are allowed by our professional designations. This includes correspondence from the IRS, state and local taxing agencies but does not include tax court.

Audit protection is automatically included in your invoice as a 10% surcharge on your tax preparation fee but may be opted out of upon request. True Wealth reserves the right to not offer Audit Protection to any clients. Taxpayers will remain responsible for any tax, penalties, or interest that may be assessed by taxing authorities.

True Wealth Individual Income Tax Engagement Terms

When you submit your tax information to us you acknowledge and agree to the following terms and conditions for our services.

Responsibilities: Your returns will be prepared from information you provide. We may ask for explanation or clarification on items, but we will not audit or otherwise verify your data. You are responsible for the completeness and accuracy of information used to prepare the returns. You should retain all the data that form the basis of income and deductions.  These may be necessary to prove the accuracy and completeness of the returns to a taxing authority. Our responsibility is to prepare the returns in accordance with applicable tax laws.

Tax laws impose penalties on you for substantial understatements of tax, items in the return for which there is not substantial authority, and failure to maintain records required by law. Federal regulations impose significant penalties on us if we are associated with a return that takes a position that has no realistic possibility of success if audited. Some items may require special disclosure to protect you and us from penalties. We will consult with you about any special disclosures we believe necessary.

Timeliness: The timeliness of your cooperation is essential to our ability to complete your tax returns. Specifically, we must receive sufficient information from which to prepare your returns within a reasonable period of time prior to the applicable filing deadline. Accordingly, if we do not receive all necessary information from you by March 15th, it may be necessary for us to pursue an extension, and we reserve the right to suspend our services or withdraw from this engagement.

Planning: We may observe opportunities for tax savings that require planning or changes in the way you handle some transactions. While an engagement for tax return preparation does not include significant tax planning services, we will share any ideas we have with you and discuss terms for any additional work that may be required to implement those ideas.

Fees: Our fees for preparing your returns will be based on the time required at our standard rates and pricing levels for such services. Invoices are due when submitted to you and must be paid prior to your tax return being released and filed. Late charges may be added to past due amounts in accordance with state law.

Audit: Your return may be selected for examination by tax agencies. In that event, we will be available to assist you in defending and explaining the return. That service is part of our engagement, provided you have not opted out of True Wealth Audit Protection and have paid for this service when billed. Otherwise, we can represent you at our hourly rates.

Accounting: Our work in connection with the preparation of your income tax returns does not include any procedures designed to discover irregularities, should any exist. We will render such accounting and bookkeeping assistance as determined to be necessary for preparation of the income tax returns.

Terms for Other Engagements

An engagement letter for services other than individual income tax preparation will be provided prior to the commencement of those services.


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