TAX CLIENTS

Each year, for each engagement, and for each client, PCPA sends out an electronic Engagement Letter to clients, to review and e-sign via Panda Doc Application, per information provided in the New Client Interview Form.

New clients typically receive the Engagement Letter within 2 to 5 business days after submitting the New Client Onboarding Form.

Returning Clients typically receive the new tax year engagement letter by early January, after the tax year end.

Retainer Fee: beginning with 2024, we require all clients prepay 100% non-refundable tax preparation service fee. The fee is estimated during the initial consultation call, for new clients, or is typically similar to the fee that the returning clients have paid for the most recent tax preparation engagement. If after the tax return is prepared the scope of service changes, the actual final fee will change accordingly based on our standard service fees as posted on our website here.

The prepaid retainer allows our Tax Team to fully focus on a streamlined and accurate preparation of the tax return deliverable without having to pause to chase payments especially when dealing with statutory deadlines for filing tax returns.

If you are a new client, after you sign the first Engagement Letter, you will receive an automated invitation to create a login to Perpetual CPA Online Client Portal, which can be accessed via our website. Perpetual CPA client portal is based on the platform called Tax Dome. The application comes with a handy mobile device application that works both on iOS and Android devices. The application allows clients to scan their paper documents directly into the client portal securely. The client portal is where the tax organizers are published for new and returning clients to complete and upload the necessary tax documents for our Tax Team.

TAX ORGANIZER:

PCPA provides a comprehensive ONLINE Tax Organizer, within the client portal, for clients to fill out, and instructions to upload to Client Portal any applicable tax documents.

If you, as a client, have any questions on completing the tax organizer, please contact us at info@perpetualcpa.com.

When the tax organizer is assigned to a client client portal account, the client will receive automated notifications via email, to remind them to submit their tax organizer so that our Tax Team can schedule their tax return for production.

When completing the tax organizer, clients must click the submit button on the last screen of the organizer so that it is finalized and submitted to our Tax Team. Clients are asked to answer the organizer questions to the best of their abilities. We don’t do a preview of the organizer answers with the clients before beginning the tax preparation. If our Tax Team has any qualification questions regarding the client’s tax information, they will contact clients via email to clarify any open items.

IMPORTANT DATES – when to submit tax organizers and upload tax documentation to Perpetual CPA Online Client Portal:

IRS generally begins processing tax returns at the end of January each year. We advise our tax clients to complete the tax organizers and upload tax documents for us as early in the tax season as possible. The sooner we prepare and file a client’s tax return, the sooner the client can get a refund if one is due. Additionally, with the proliferation of identity theft and fraudulent tax returns, it is a good practice to file tax returns as early in the season as possible, because the IRS will generally only accept the first e-filed tax return, whether fraudulently filed by identity thieves or a real one filed on your behalf.

For Individual Tax Returns, C-Corporations, and Trust Tax Returns: for timely processing, please submit tax organizers and upload tax documentation as early as possible and no later than April 1st.

For Partnership and S-Corporation Tax Returns: for timely processing,please submit tax organizers and upload tax documentation as early as possible and no later than March 1st.

TAX EXTENSIONS:

Please NOTE – at the beginning of March and April, and as needed, our Tax Team will file “zero-tax-due” Tax Return Extensions for all onboarded business and individual tax clients whose tax return preparation is still in progress, respectively. We do this as a precaution, in case any tax clients submit their tax information to us late. If clients have provided sufficient tax documents to our Tax Team, we will also calculate and communicate to clients any estimated tax payments to be made with extension for clients where applicable. Any tax returns with tax information submitted after the dates outlined above, will be pushed out and completed after the March 15th for the business returns and April 15 for the individual returns tax deadlines.

Taxpayers may be subject to a penalty on any unpaid taxes due and interest related to any late filings. This is why being aware of and following the tax filing deadlines is important to avoid tax payment and tax filing penalties.

Even with a tax return extension filed, taxpayers who owe taxes must pay them by the original tax return deadline or risk incurring late tax payment penalties and interest.

While there is an automatic 6 month extension to file a tax return, there is never an extension to pay the taxes due.

Please contact us, if you know your tax information will be late and you will owe taxes to the IRS and State DOR. We will then prepare a custom Tax Return Extension voucher for you to mail/e-pay your tax payments to IRS and/or State DOR.

Once we receive your completed tax organizer and all applicable tax documents are uploaded to your folder in the client portal, your tax return file is added to our tax return preparation queue (aka Tax Return Production Queue) to wait for its turn.

Please NOTE: that the wait time between the date you submit your tax return organizer and tax documentation and the when we first review your tax file, will depend on how early in the tax season we receive your information. Normally, during the month of February, March, and April we have a large influx of client tax document submissions and we schedule them for production in the order we receive them. Therefore, we recommend you to make sure you answer all of the tax organizer questions in full and upload all applicable tax documentation the first time, and as early in the process as possible.

Once we process your tax files and prepare your tax return and it is ready for your review and signature, you will receive an automatic courtesy email notification with instructions on how to let our Tax Team know that you would like to schedule a video conference call to review your tax return before finalizing. During the virtual conference call, our tax manager will meet with you, share on the screen the review draft of your tax return and will answer any of your questions related to your tax return.

For all clients, even if they are comfortable with reviewing their own tax returns, with highly recommend to schedule a one-on-one video conference call with our tax manager at least once.

After reviewing and finalizing the tax return, the clients will receive an e-file authorization form in the client portal which they can electronically sign using the IRS approved KBA-e-signature technology. By signing the form, the clients certify that they have reviewed their tax return, they agree with it, and they give our Tax Team permission to e-file it with the tax agencies.

If applicable, PCPA will then e-file your tax returns with the IRS and State DOR.

Please NOTE: In some cases, there may be a need to file local tax forms (City and/or County). We will prepare those forms, but may not be able to e-file them on your behalf, since most municipalities do not participate in the e-file program. In those cases, we will provide you with instructions and completed forms to either mail or file and pay directly online yourself.

Once the IRS and the State accept your e-filed tax returns, we will prepare and upload for you to the Client Portal the Final Client Copy of your return, E-File confirmation Letter and any other applicable forms that require additional action (ex. signing, mailing, etc.). Lastly, we will email you very specific instructions for which files were uploaded to the portal for you and what to do with each file.

THAT IS AN IMPORTANT EMAIL! Please read our Deliverable email and follow the instructions related to your tax return forms.

At that point, our tax engagement with you is complete. Thank you for your business and we look forward to working with you soon again.

FYI: Also, here’re a few links from our website that you may find useful later in the process: Perpetual CPA Online Client Portal

If at any point during this process you have any questions, please email us at info@perpetualcpa.com.