Common use of Penalties and Interest Charges Clause in Contracts

Penalties and Interest Charges. Federal, state, and local tax authorities impose various penalties and interest charges for non-compliance with tax laws and regulations, including failure to file or late filing of returns, and underpayment of taxes. You, as the taxpayer, remain responsible for the payment of all tax, penalties, and interest charges imposed by tax authorities. We rely on the accuracy and completeness of the information you provide to us in connection with the preparation of your tax returns. Failure to disclose or inadequate disclosure of income or tax positions may result in the imposition of penalties and interest charges. Your returns may be selected for review by the taxing authorities. Any proposed adjustments by the examining agent are subject to certain rights of appeal. In the event of such governmental tax examination, we will be available, upon request, to represent you under a separate engagement letter for that representation. You understand that your income tax returns will be electronically filed through a secured third-party electronic filing service. You may opt out of electronic filing if you so choose by indicating that to us in writing. * * * * * * If the foregoing fairly sets forth your understanding, please sign the enclosed copy of this letter in the space indicated and return it to our office. However, if there are additional returns you expect us to prepare, such as business tangible personal property (due May 15th), please notify us in writing below. We want to express our appreciation for this opportunity to work with you. The heartbeat of our business is a referral from a valued client like you. Please feel free to pass our information on to your friends or family that might benefit from our services. Very truly yours, Xxxxx X. Xxxxx, CPA Principal Shareholder | Xxxxx + Beam CPAs, LLC ACCEPTED: [Shareholder Signature] [Date] [Shareholder Name] [Shareholder Email] An email address for all parties on the tax return is required for the electronic signature of the e-file authorization forms. Your privacy is of our utmost concern: your email address will not be shared with or sold to anyone – period! [CONTINUED] Xxxxx + Beam CPAs, LLC’s Terms and Conditions Addendum Overview This addendum to the engagement letter describes our standard terms and conditions (“Terms and Conditions”) related to our provision of services to you. This addendum, and the accompanying engagement letter, comprise your agreement with us (“Agreement”). If there is any inconsistency between the engagement letter and this Terms and Conditions Addendum, the engagement letter will prevail to the extent of the inconsistency. For the purposes of this Terms and Conditions Addendum, any reference to “firm,” “we,” “us,” or “our” is a reference to Xxxxx + Beam, CPAs, LLC, and any reference to “you,” or “your” is a reference to the party or parties that have engaged us to provide services. References to “Agreement” mean the engagement letter or other written document describing the scope of services, any other attachments incorporated therein, and this Terms and Conditions Addendum.

Penalties and Interest Charges. Federal, state, and local tax authorities impose various penalties and interest charges for non-compliance with tax laws and regulations, including failure to file or late filing of returns, and underpayment of taxes. You, as the taxpayer, remain responsible for the payment of all tax, penalties, and interest charges imposed by tax authorities. We rely on the accuracy and completeness of the information you provide to us in connection with the preparation of your tax returns. Failure to disclose or inadequate disclosure of income or tax positions may result in result. The IRS permits you to authorize us to discuss, on a limited basis, aspects of your return for one year after the imposition of penalties and interest chargesreturn’s due date. Your returns may consent to such a discussion is evidenced by checking a box on the return. Unless you request otherwise, we will check that box authorizing the IRS to discuss your return with us. Should we receive any request for the disclosure of privileged information from any third party, including a subpoena of IRS summons, we will notify you. In the event you direct us not to make the disclosure, you agree to hold us harmless from any expenses incurred in defending the privilege, including, by way of illustration only, our attorney’s fees, court costs, outside advisor’s costs, or penalties or fines imposed as a result of your asserting the privilege or your direction to us to assert the privilege. Professional Fees Our fee for these services will be selected for review by based upon the taxing authoritiesamount of time required at standard billing rates. Any proposed adjustments by the examining agent All invoices are subject to certain rights due and payable upon presentation. A finance charge of appeal1.5 percent per month will be assessed on any unpaid balance after deduction of current payment, credits, and allowances made within 30 days of date of billing. This is an annual percentage rate of 18 percent. In the event of a dispute related in any way to our services, our firm and you agree to discuss the dispute and, if necessary, promptly mediate in a good faith effort to resolve. We will agree on a mediator, but if we cannot, either of us may apply to a court having personal jurisdiction over the parties for appointment of a mediator. We will share the mediator’s fees and expenses equally, but otherwise will bear our own attorneys’ fees and mediation costs. Participation in such governmental tax examinationmediation shall be a condition to either of us initiating litigation. In order to allow time for mediation, any applicable statute of limitations shall be tolled for a period not to exceed 120 days from the date either of us first requests in writing to mediate the dispute. The mediation shall be admissible in litigation solely to determine the prevailing party’s identity for purposes of the award of attorney’s fees. We have the right to withdraw from this engagement, at our discretion, if you don’t provide us with any information we request in a timely manner, refuse to cooperate with our reasonable requests, or misrepresent any facts. Our withdrawal will be available, upon request, release us from any obligation to represent you under a separate engagement letter for that representationcomplete your return and will constitute completion of our engagement. You understand that your income tax returns will be electronically filed agree to compensate us for our time and out-of-pocket expenses through a secured third-party electronic filing servicethe date of our withdrawal. You may opt out of electronic filing if you so choose by indicating that to us in writing. * * * * * * If the foregoing fairly sets forth your understanding, please sign the enclosed copy of this letter below in the space indicated provided and return it to our office. However, if there are additional returns you expect us to prepare, such as business tangible personal property (due May 15th), please notify us in writing belowWe will not start processing any return without a signed engagement letter. We want to express our appreciation for this opportunity to work with you. The heartbeat of our business is a referral from a valued client like you. Please feel free to pass our information on to your friends or family that might benefit from our services. Very truly yours, Xxxxx X. Xxxxx, CPA Principal Shareholder | Xxxxx + Beam CPAs, LLC ACCEPTEDEntity Name: [Shareholder Signature] [Date] [Shareholder Name] [Shareholder Email] An email address for all parties on the tax return is required for the electronic signature of the e-file authorization forms. Your privacy is of our utmost concern: your email address will not be shared with or sold to anyone – period! [CONTINUED] Xxxxx + Beam CPAs, LLC’s Terms and Conditions Addendum Overview This addendum to the engagement letter describes our standard terms and conditions (“Terms and Conditions”) related to our provision of services to you. This addendum, and the accompanying engagement letter, comprise your agreement with us (“Agreement”). If there is any inconsistency between the engagement letter and this Terms and Conditions Addendum, the engagement letter will prevail to the extent of the inconsistency. For the purposes of this Terms and Conditions Addendum, any reference to “firm,” “we,” “us,” or “our” is a reference to Xxxxx + Beam, CPAs, LLC, and any reference to “you,” or “your” is a reference to the party or parties that have engaged us to provide services. References to “Agreement” mean the engagement letter or other written document describing the scope of services, any other attachments incorporated therein, and this Terms and Conditions Addendum.Signed:

Penalties and Interest Charges. Federal, state, and local tax taxing authorities impose various penalties and interest charges for non-compliance with tax laws and regulationslaw, including including, for example, failure to file or late filing of returns, and underpayment of taxes. You, You as the taxpayer, remain responsible for the payment of all taxtaxes, penalties, and interest charges imposed by tax the taxing authorities. We rely on the accuracy and completeness of the information you provide to us in the connection with the preparation of your tax returns. Failure to disclose disclose, or inadequate disclosure of income or tax positions may positions, can result in the imposition of penalties and interest charges. Your returns The IRS and many states impose penalties for substantial understatement of tax. To avoid the substantial understatement penalty, you must have substantial authority to support the tax treatment of the item challenged by the IRS or adequate disclosure of the item. A complete IRS Form 8275 or 8275-R, which discloses all relevant facts, may be selected required to be attached to your tax return to meet the adequate disclosure requirement. A disclosed tax position that meets the reasonable basis standard must have some authority supporting the position and be more than just arguable. You agree to advise us if you wish to disclose a tax treatment(s) on your return. If you request our assistance in identifying or performing further research to ascertain if there is “substantial authority” for review by the taxing authoritiesproposed position to be taken on the tax items in your returns, we would be pleased to discuss providing this additional service to you under the terms of a separate engagement letter. Any proposed adjustments by It is your responsibility to contact us if additional assistance is required. Unless an undisclosed tax position meets the examining agent are subject to certain rights of appeal. In the event of such governmental tax examinationsubstantial authority or “more likely than not” standard, as applicable, we will be availableunable to prepare the return and will withdraw from the engagement. If we conclude as a result of our research that you are required to disclose a transaction on your tax return, upon request, you consent to represent you under attach a separate engagement letter complete Form 8275 or 8275-R to your tax return for that representation. You understand that your income tax returns will be electronically filed through a secured third-party electronic filing service. You may opt out of electronic filing if you so choose by indicating that to us in writing. * * * * * * If after we discuss the foregoing fairly sets forth your understanding, please sign the enclosed copy of this letter in the space indicated and return it to our office. However, if there are additional returns you expect us to prepare, such as business tangible personal property (due May 15th), please notify us in writing below. We want to express our appreciation for this opportunity to work situation with you. The heartbeat You also agree to hold our firm and any of our business is its partners, principals, shareholders, officers, directors, members, employees, agents or assigns harmless for any and all actual and consequential damages (including but not limited to taxes, penalties, interest, and attorney’s fees and costs) that you incur as a referral from a valued client like you. Please feel free to pass our information on to result of including such disclosures with your friends or family that might benefit from our services. Very truly yours, Xxxxx X. Xxxxx, CPA Principal Shareholder | Xxxxx + Beam CPAs, LLC ACCEPTED: [Shareholder Signature] [Date] [Shareholder Name] [Shareholder Email] An email address for all parties on the filed tax return is required for the electronic signature returns regardless of the e-file authorization forms. Your privacy is of our utmost concern: your email address will not be shared with or sold to anyone – period! [CONTINUED] Xxxxx + Beam CPAs, LLC’s Terms and Conditions Addendum Overview This addendum to the engagement letter describes our standard terms and conditions (“Terms and Conditions”) related to our provision of services to you. This addendum, and the accompanying engagement letter, comprise your agreement with us (“Agreement”). If there is any inconsistency between the engagement letter and this Terms and Conditions Addendum, the engagement letter will prevail to the extent nature of the inconsistency. For claim, including the purposes negligence of this Terms and Conditions Addendum, any reference to “firm,” “we,” “us,” or “our” is a reference to Xxxxx + Beam, CPAs, LLC, and any reference to “you,” or “your” is a reference to the party or parties that have engaged us to provide services. References to “Agreement” mean the engagement letter or other written document describing the scope of services, any other attachments incorporated therein, and this Terms and Conditions Addendumparty.

Penalties and Interest Charges. Federal, state, and local tax authorities impose various penalties and interest charges for non-compliance with tax laws and regulations, including failure to file or late filing of returns, and underpayment of taxes. You, as the taxpayer, remain responsible for the payment of all tax, penalties, and interest charges imposed by tax authorities. We rely on the accuracy and completeness of the information you provide to us in connection with the preparation of your tax returns. Failure to disclose or inadequate disclosure of income or tax positions may result in the imposition of penalties and interest charges. Your returns may be selected for review by the taxing authorities. Any proposed adjustments by the examining agent are subject to certain rights of appeal. In the event of such governmental tax examination, we will be available, upon request, to represent you under a separate engagement letter for that representation. You understand that your income tax returns will be electronically filed through a secured third-party electronic filing service. You may opt out of electronic filing if you so choose by indicating that to us in writing. * * * * * * If Please acknowledge your receipt of this Agreement (including the foregoing fairly sets forth Xxxxx + Beam CPA, LLC’s Terms and Conditions Addendum) and your understanding, please sign acceptance of the terms of the Agreement by signing and dating the enclosed copy of this letter in the space indicated and return returning it to our officeus. HoweverImportantly, if there are additional returns you expect us to prepare, such as business tangible personal property returns (due May 15th), please notify us in writing belowimmediately. Although this engagement is limited to the engagement identified above, this agreement will also cover the firm's engagement terms with respect to other professional accounting matters that may arise in the future. Before accepting any request for a new engagement, we will review the proposed matter for possible conflicts of interest and other considerations. We want to express our appreciation for this opportunity to work with you. The heartbeat of our business is a referral from a valued client like you. Please feel free to pass our information on to your friends or family that might benefit from our services. Very truly yours, Xxxxx X. Xxxxx, CPA Principal Shareholder | Xxxxx + Beam CPAs, LLC ACCEPTED: [Shareholder Executor or Trustee Name] [Executor or Trustee Signature] [Date] [Shareholder Name] [Shareholder Executor or Trustee Email] An email address for all parties on the tax return is required for the electronic signature of the e-file authorization forms. Your privacy is of our utmost concern: your email address will not be shared with or sold to anyone – period! [CONTINUED] Xxxxx + Beam CPAs, LLC’s Terms and Conditions Addendum Overview This addendum to the engagement letter describes our standard terms and conditions (“Terms and Conditions”) related to our provision of services to you. This addendum, and the accompanying engagement letter, comprise your agreement with us (“Agreement”). If there is any inconsistency between the engagement letter and this Terms and Conditions Addendum, the engagement letter will prevail to the extent of the inconsistency. For the purposes of this Terms and Conditions Addendum, any reference to “firm,” “we,” “us,” or “our” is a reference to Xxxxx + Beam, CPAs, LLC, and any reference to “you,” or “your” is a reference to the party or parties that have engaged us to provide services. References to “Agreement” mean the engagement letter or other written document describing the scope of services, any other attachments incorporated therein, and this Terms and Conditions Addendum.

Penalties and Interest Charges. Federal, state, and local tax authorities impose various penalties and interest charges for non-compliance with tax laws and regulations, including failure to file or late filing of returns, and underpayment of taxes. You, as the taxpayer, remain responsible for the payment of all tax, penalties, and interest charges imposed by tax authorities. We rely on the accuracy and completeness of the information you provide to us in connection with the preparation of your tax returns. Failure to disclose or inadequate disclosure of income or tax positions may result in the imposition of penalties and interest charges. Your returns may be selected for review by the taxing authorities. Any proposed adjustments by the examining agent are subject to certain rights of appeal. In the event of such governmental tax examination, we will be available, upon request, to represent you under a separate engagement letter for that representation. You understand that your income tax returns will be electronically filed through a secured third-party electronic filing service. You may opt out of electronic filing if you so choose by indicating that to us in writing. * * * * * * If the foregoing fairly sets forth your understanding, please sign the enclosed copy of this letter in the space indicated and return it to our office. However, if there are additional returns you expect us to prepare, such as business tangible personal property (due May 15th), please notify us in writing belowwriting. We want to express our appreciation for this opportunity to work with you. The heartbeat of our business is a referral from a valued client like you. Please feel free to pass our information on to your friends or family that might benefit from our services. Very truly yours, Xxxxx X. Xxxxx, CPA Principal Shareholder | Xxxxx + Beam CPAs, LLC ACCEPTED: [Shareholder Member/Partner Signature] [Date] [Shareholder Member/Partner Name] [Shareholder Member/Partner Email] An email address for all parties on the tax return is required for the electronic signature of the e-file authorization forms. Your privacy is of our utmost concern: your email address will not be shared with or sold to anyone – period! [CONTINUED] Xxxxx + Beam CPAs, LLC’s Terms and Conditions Addendum Overview This addendum to the engagement letter describes our standard terms and conditions (“Terms and Conditions”) related to our provision of services to you. This addendum, and the accompanying engagement letter, comprise your agreement with us (“Agreement”). If there is any inconsistency between the engagement letter and this Terms and Conditions Addendum, the engagement letter will prevail to the extent of the inconsistency. For the purposes of this Terms and Conditions Addendum, any reference to “firm,” “we,” “us,” or “our” is a reference to Xxxxx + Beam, CPAs, LLC, and any reference to “you,” or “your” is a reference to the party or parties that have engaged us to provide services. References to “Agreement” mean the engagement letter or other written document describing the scope of services, any other attachments incorporated therein, and this Terms and Conditions Addendum.

Penalties and Interest Charges. Federal, state, and local tax authorities impose various penalties and interest charges for non-compliance with tax laws and regulations, regulations including failure to file or late filing of returns, and underpayment of taxes. You, as the taxpayer, remain responsible for the payment of all tax, penalties, and interest charges imposed by tax authorities. We rely on the accuracy and completeness of the information you provide to us in connection with the preparation of your tax returns. Failure to disclose or inadequate disclosure of income or tax positions may result in the imposition of penalties and interest charges. Your returns may Professional Fees Our minimum professional fee for the services outlined above is $1,750. A fee quote will be selected provided upon request after a CPA views the prior returns. Our fees are based upon the complexity of the work to be performed, and our professional time, as well as out-of-pocket expenses. In addition, our fees depend upon the timely delivery, availability, quality, and completeness of the information you provide to us. You agree that you will deliver all records requested and respond to all inquiries made by our staff to complete this engagement on a timely basis. You agree to pay all fees and expenses incurred whether or not we prepare the tax returns. Unless otherwise specifically stated, tax projection and planning for review 2020 are not included in this engagement. An extension to file a tax return is not an extension to pay. The IRS and the states assess penalties and interest on any tax amount due and not paid by the taxing authoritiesinitial deadline. Any proposed adjustments by We appreciate the examining agent are subject opportunity to certain rights be of appealservice to you. In the event of such governmental tax examination, we will be available, upon request, to represent you under a separate engagement letter for that representation. You understand that your income tax returns will be electronically filed through a secured third-party electronic filing service. You may opt out of electronic filing if you so choose by indicating that to us in writing. * * * * * * If the foregoing fairly sets forth your understanding, please sign Please date and execute the enclosed copy of this letter in the space indicated Agreement and return it to our office. However, if there are additional returns you expect us to prepare, such as business tangible personal property (due May 15th), please notify us in writing belowacknowledge your acceptance. We want to express our appreciation for this opportunity to work with you. The heartbeat of our business is a referral from a valued client like you. Please feel free to pass our information on to your friends or family that might benefit from our services. Very truly yours, Xxxxx X. Xxxxx, CPA Principal Shareholder | Xxxxx + Beam CPAs, LLC ACCEPTED: [Shareholder Signature] [Date] [Shareholder Name] [Shareholder Email] An email address for all parties on the tax return is required for the electronic signature of the e-file authorization forms. Your privacy is of our utmost concern: your email address will not be shared with or sold to anyone – period! [CONTINUED] Xxxxx + Beam CPAs, LLC’s Terms and Conditions Addendum Overview This addendum to initiate services until we receive the engagement letter describes our standard terms and conditions executed Agreement. Entity (“Terms and Conditions”Separately list each company for Title of Signatory which we will prepare returns.) related to our provision of services to you. This addendum, and the accompanying engagement letter, comprise your agreement with us (“Agreement”). If there is any inconsistency between the engagement letter and this Terms and Conditions Addendum, the engagement letter will prevail to the extent of the inconsistency. For the purposes of this Terms and Conditions Addendum, any reference to “firm,” “we,” “us,” or “our” is a reference to Xxxxx + Beam, CPAs, LLC, and any reference to “you,” or “your” is a reference to the party or parties that have engaged us to provide services. References to “Agreement” mean the engagement letter or other written document describing the scope of services, any other attachments incorporated therein, and this Terms and Conditions Addendum.Signature Date