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CAPITAL TAX LIMITED – TAX RETURN PREPARATION ENGAGEMENT LETTER
Dear Client,
We appreciate the opportunity to work with you and advise you on U.S. personal income tax matters. The Internal Revenue Service (IRS) imposes penalties on taxpayers, as well as on us as tax return preparers, for failure to observe due care in reporting on your income tax returns. In order to ensure an understanding of our mutual responsibilities, we ask all clients for whom we prepare tax returns to confirm the following arrangements:
We will prepare your personal income tax return(s) based on information that you provide to us.
We will not audit or otherwise verify the data you submit. Accordingly, our engagement should not be relied upon to disclose errors, fraud, or other illegal acts. It may be necessary for you to clarify some of the information you submit.
It is our responsibility to prepare your tax return correctly according to the law and the information that you have provided. It is your responsibility to provide us with all the information required to prepare complete and accurate returns. You should retain all the documents, proof of foreign taxes paid, foreign tax return notice of assessments and other data that form the basis of your foreign income and deductions. These may be necessary to prove the accuracy and completeness of the return to the IRS. You have the final responsibility for the income tax return and, therefore, you should review it carefully before you sign it.
By accepting this letter, you represent that you will provide us with accurate and complete information necessary to prepare your tax returns. This includes informing us of all foreign income and other information we may ask in regards to the preparation of your tax returns, as well as all income from any foreign properties regardless of their aggregate value and all income and transactions relating to non-resident trusts, partnerships, companies or other non-U.S. domiciled assets. The law imposes various penalties when taxpayers understate their tax liability. If you would like information on the amount or circumstances of these penalties, please contact us. We may terminate our representation of you if you insist that we pursue objectives that we consider imprudent, unprofessional or unethical or if we feel further representation is not warranted for personal reasons.
We will use our judgment in resolving questions where the tax law is unclear, or where there may be conflicts between the taxing authorities’ interpretation of the law and other supportable positions. Unless otherwise instructed by you, we will resolve such questions in your favor whenever possible.
Through the course of preparing your tax work, we may observe opportunities for tax savings that require changes in the way you handle certain 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.
Our business respects the privacy of personal information, that is, information that identifies you as an individual, or that is associated with such identifying information. By engaging our services, you agree to provide personal information necessary for us to meet your service requests. We are a non-U.S. based tax return preparation firm and our tax preparers are located outside of the United States. Through the course of preparing your tax work, we may share your information with other members of our firm who are assisting with tax return preparation.
Before you provide us with any personal information on behalf of others, you agree that you will have obtained consent for collecting, using and disclosing this information, according to privacy legislation.
We want you to know that we will not rent, sell, or otherwise make your personal information, including contact information, available to any third-party without your permission. We use your information to complete your service requests, to inform you of changes in our business or service offerings, and to maintain our professional correspondence with you.
We follow rigorous privacy practices and we have a privacy policy that governs our use and handling of the information you provide to us. We invite you to contact our office if you would like additional information about these practices.
To change your contact information or to let us know if there are any types of correspondence you do not wish to receive from our office, please contact us.
IRS may select your return for review. Often they request copies of your receipts and other times they may require a full audit. Any adjustments proposed by IRS are subject to certain rights of appeal. In the event of such tax examinations, we will be available upon request to represent you at an additional cost.
Our fee for services is based on our fee plus out-of-pocket expenses (e.g. FedEx). The invoice is due and payable upon presentation. Based on the information you have given us and time required, kindly refer to the indicated fees provided in the estimate/invoice.
As per our service policy, we will prepare a pro-forma invoice based on the aforementioned quote (50% pre-payment, remaining 50% upon completion of returns).
This is an engagement between you and CAPITAL TAX LIMITED, a Hong Kong registered company. Depending on your location, invoicing and other administrative duties may be handled by either our head office or one of our regional offices:
CAPITAL TAX LIMITED Suite 2603, Office Tower, Convention Plaza, 1 Harbour Road, Wan Chai, Hong Kong
Capital Tax K.K. Place Canada 1F, 7-3-37, Akasaka, Minato-ku, Tokyo
Capital Tax & Accounting Services Ltd. Suite #170, 422 Richards Street Vancouver, BC. V6B 2Z4
BOJIN SHANGHAI CONSULTING COMPANY CO. LTD. Room 206 2/F Central Plaza, 227 North Huang Pi Road, Huang Pu District Shanghai, China 200003
If this letter accurately reflects your understanding, please acknowledge your agreement by accepting the estimate/invoice sent together with this agreement. Please feel free to call us with any questions or concerns at TEL +852 3959 8208 (Hong Kong);+86-21-23165382 (mainland China); +1-604-689-7278 (Canada); or +(81) 03-6894-7586 (Japan).
Thank you for your trust in our business.
Sincerely yours,
Eric La Cara
Managing Director
CAPITAL TAX LIMITED (HK)
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