US Tax consultant tax consultants cpa tax consulting |Sentinel CPA
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Steps for Performance of Engagement
Procedural Steps for Performance of Engagement
(The example below is of a typical engagement, and may vary depending on unique client factors)
The following steps would commence after either a verbal or written agreement to do business had occurred, either by telephone, email, or other messaging platform exchange.
Procedural Steps for Performance of Engagement
(The example below is of a typical engagement, and may vary depending on unique client factors)
The following steps would commence after either a verbal or written agreement to do business had occurred, either by telephone, email, or other messaging platform exchange.
01. STEP ONE
Request PDF copies of our Client Agreement and Tax Organizer.
02. STEP TWO
After you review the Client Agreement, sign, date and return to us.
03. STEP THREE
If it had been requested by us, sign and date page two of the Power of Attorney Form 2848 and return to us.
04. STEP FOUR
Complete as best you can all relevant pages of the Tax Organizer found in Step One. Only Sentinel CPA staff will see the organizer, so don’t be too concerned with what it looks like so long as it is legible. If more than one year’s tax returns are to be prepared, complete one organizer per year. If you paid foreign taxes, please provide the amount paid or withheld and specify currency in which paid on the last page of the organizer.
05. STEP FIVE
Please supply us with copies of the following, if you have received them:
- Form(s) W-2 (wages, etc)
- Form(s) 1099 (non-employee earnings, interest, dividends, securities proceeds, royalties, etc.)
- Schedule(s) K-1 (income from partnerships, S corporations, etc.)
- Form(s) 1098 (mortgage interest) and property tax statements
- Any other reporting forms (5498, 1042, etc) for which a copy was also sent to the IRS
- Brokerage gain or loss reports
- Closing statements pertaining to real estate transactions
- Any tax notices received from the IRS or other taxing authorities.
06. STEP SIX
We will prepare the returns specified in the engagement letter, based on the figures you report to me. Please feel free to contact us at any point regarding any aspect of the engagement.
We shall make every effort to complete your returns before their normal due dates, assuming at least 72 hours prior receipt by us of your input materials (include W- 2s, 1099s, 1098s, if applicable). While expats have until June 15th to file a form 1040 return, that is only applicable if you are out of the country on that date.
We file an extension prior to April 15th regardless, because if – for any reason – the June 15th filing date is not met, you are still extended to October 15th.
07. STEP SEVEN
Please provide a copy of the most recent US tax return (and state return, if relevant) you have filed with the IRS. Please also send us copies of any NON-US income tax returns or related documents (if any) that cover the years involved.
08. STEP EIGHT
Doing expat tax returns frequently creates some flurry of state and/or IRS follow-up correspondence which adds anywhere from 1 to 5 hours of additional work on our part. Such time is charged at the US$260 per hour rate if and as incurred.
PLEASE HELP US HELP YOU:
- We do not need to see your individual receipts or bank records, but do save them in case they are needed later.
- If shipping us paper documents, please do not send us your only copy of any document – if sending us paper documents. Keep either the original or a copy in your possession. Please ship or mail to our office in Las Vegas.
- Sending JPG format files is acceptable if no other alternative is available, but not preferred.
FEES:
Once we receive from you the input materials for each year, we can provide a fee estimate if you wish. Payment is due at the time work is prepared and ready to ship. Any additional time will be charged at $260/hour.
MasterCard, Visa, and American Express are accepted.