December 2022
Allyson Victory
Areas of Expertise Client Services Client Relationship Management Project Management Education BS, Hospitality and Business, Grand Valley State University Languages Spoken English Client Relationship Manager, Team Susi Allyson is a Client Relationship Manager (CRM) at The Wolf Group, responsible for overseeing the client experience for both US and foreign national clients. She works closely with tax technical professionals and reaches out to clients to ensure the smooth flow of information and high-quality services. As the primary CRM for the firm’s Team Susi, Allyson largely supports high-net-worth individual clients, family groups with interconnected tax filings, fiduciary clients, and other clients with gift, trust, and estate needs. She keeps clients abreast of new developments, facilitates communications with tax preparers, monitors the progress of engagements, and coordinates services. In addition, she helps those who are new to the US tax system to understand the filing process and what to expect. Before joining The Wolf Group in 2022, Allyson worked in the hospitality industry for 10 years, as a community specialist, account manager, and client service manager. During those 10 years, she spent 5 years with Delta Air Lines, in roles that enabled her to travel extensively and brought her into contact with diverse nationalities and cultures. Outside of work, Allyson enjoys traveling, hiking, playing board games, and spending time with family and friends.
Pam Torrico
Areas of Expertise Client relations Project management Intercultural communications Education BS, Business Management, George Mason University Languages Spoken Portuguese English Spanish Client Relationship Manager, Team Okami Pam is a Client Relationship Manager (CRM) at The Wolf Group, responsible for overseeing the client experience for both US and foreign national clients. She works closely with tax technical professionals and reaches out to clients to ensure the smooth flow of information and high-quality services. As the primary CRM for the firm’s Team Okami, Pam largely supports high-net-worth individuals whose tax planning and tax returns involve significant international complexities (Forms 5471, 5472, 8865, 8621, 3520/3520-A, etc.). She keeps clients abreast of new developments, facilitates communications with tax technical staff, monitors the progress of engagements, and coordinates services. In addition, she helps those who are new to the US tax system to understand the filing process and what to expect. Before joining The Wolf Group in 2022, Pam worked in the J-1 visa cultural exchange industry, supporting exchange participants and host families, troubleshooting issues, and handling program billing matters. She also has prior experience working in a Brazilian accounting firm. A native of Brazil, Pam speaks fluent Portuguese, English, and some Spanish. Outside of work, she enjoys traveling, cooking, and spending time with her family.
Ashley Kim
Areas of Expertise Project Management Client Relations Data Analytics Education BS, Marketing, Bentley University Languages Spoken English Korean Client Relationship Manager, Team Waya Ashley is a Client Relationship Manager (CRM) at The Wolf Group, responsible for overseeing the client experience for both US and foreign national clients. She works closely with tax technical professionals and reaches out to clients to ensure the smooth flow of information and high-quality services. As the primary CRM for the firm’s Team Waya, Ashley largely supports business owners, privately held partnerships and corporations, high-net-worth individuals with ownership in foreign entities, and high-net-worth individuals whose returns involve significant international complexities (Forms 5471, 5472, 8865, 8621, 3520/3520-A, etc.). She keeps clients abreast of new developments, facilitates communications with tax technical staff, monitors the progress of engagements, and coordinates services. In addition, she helps those who are new to the US tax system to understand the filing process and what to expect. Before joining The Wolf Group in 2022, Ashley held program operations roles in the Higher Education field, working with students, faculty, and third-party companies. She also worked in Advertising, supporting small business clients, as both an account manager and client service professional. Outside of work, Ashley enjoys traveling, trying new restaurants, and biking.
October 2022
September 2022
August 2022
2021 Fiduciary Tax Return Engagement Letter (F-CR)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2020 U.S. and state fiduciary income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other document requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation [...]
2020 Individual Tax Return Engagement Letter (G)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached "Additional Engagement Terms" is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2020 U.S. and state individual income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Dependent or Minor Children Tax Returns In some cases, a dependent or minor child under your care and supervision may be required to file a U.S. and/or state income tax return and/or international informational report (example: FinCEN Form 114 (FBAR)). Generally, this is a service for which we will provide under this Engagement as a “dependent tax filing” billed based on our most current standard tax preparation fee schedule. However, in some circumstances we may require that an additional engagement letter be completed by the you, the parent or guardian. We will notify you if we determine this to be required. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant [...]
2020 WGCA Client Tax Return Engagement Letter
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2020 U.S. and state individual income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other document requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation [...]
2020 Individual Tax Return Engagement Letter (P)
Dear Client, We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2020 U.S. and state individual income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Dependent or Minor Children Tax Returns In some cases, a dependent or minor child under your care and supervision may be required to file a U.S. and/or state income tax return and/or international informational report (example: FinCEN Form 114 (FBAR)). Generally, this is a service for which we will provide under this Engagement as a “dependent tax filing” billed based on our most current standard tax preparation fee schedule. However, in some circumstances we may require that an additional engagement letter be completed by the you, the parent or guardian. We will notify you if we determine this to be required. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant [...]
2020 Entity Tax Return Engagement Letter (E-R)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. Returns Covered under the Engagement With this letter, you are engaging us to: Prepare your 2020 U.S. and state income tax returns with all required accompanying forms, statements, and schedules Perform the necessary bookkeeping for preparation of the income tax returns We will provide these services based on the information you furnish to us as described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities, regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other documents requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation necessary to support the data used in the preparation of your tax returns should you be required to produce them upon examination by the taxing authorities. Client Due Diligence We will provide you with guidance on the timeline for submitting your tax information to us. It is your responsibility to provide your [...]
2020 Entity Tax Return Engagement Letter (E-G)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. Returns Covered under the Engagement With this letter, you are engaging us to: Prepare your 2020 U.S. and state income tax returns with all required accompanying forms, statements, and schedules Perform the necessary bookkeeping for preparation of the income tax returns We will provide these services based on the information you furnish to us as described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities, regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other documents requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation necessary to support the data used in the preparation of your tax returns should you be required to produce them upon examination by the taxing authorities. Client Due Diligence We will provide you with guidance on the timeline for submitting your tax information to us. It is your responsibility to provide your [...]
2020 Entity Tax Return Engagement Letter (E-CR)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. Returns Covered under the Engagement With this letter, you are engaging us to: Prepare your 2020 U.S. and state income tax returns with all required accompanying forms, statements, and schedules Perform the necessary bookkeeping for preparation of the income tax returns We will provide these services based on the information you furnish to us as described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities, regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other documents requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation necessary to support the data used in the preparation of your tax returns should you be required to produce them upon examination by the taxing authorities. Client Due Diligence We will provide you with guidance on the timeline for submitting your tax information to us. It is your responsibility to provide your [...]
2020 Fiduciary Tax Return Engagement Letter (F-G)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2020 U.S. and state fiduciary income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other document requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation [...]
2020 Individual Tax Return Engagement Letter (R)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2020 U.S. and state individual income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Dependent or Minor Children Tax Returns In some cases, a dependent or minor child under your care and supervision may be required to file a U.S. and/or state income tax return and/or international informational report (example: FinCEN Form 114 (FBAR)). Generally, this is a service for which we will provide under this Engagement as a “dependent tax filing” billed based on our most current standard tax preparation fee schedule. However, in some circumstances we may require that an additional engagement letter be completed by the you, the parent or guardian. We will notify you if we determine this to be required. Dependent or Minor Children Tax Returns In some cases, a dependent or minor child under your care [...]
2021 Individual Tax Return Engagement Letter (CR)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2021 U.S. and state individual income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Dependent or Minor Children Tax Returns In some cases, a dependent or minor child under your care and supervision may be required to file a U.S. and/or state income tax return and/or international informational report (example: FinCEN Form 114 (FBAR)). Generally, this is a service for which we will provide under this Engagement as a “dependent tax filing” billed based on our most current standard tax preparation fee schedule. However, in some circumstances we may require that an additional engagement letter be completed by the you, the parent or guardian. We will notify you if we determine this to be required. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant [...]
2021 Individual Tax Return Engagement Letter (G)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2021 U.S. and state individual income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Dependent or Minor Children Tax Returns In some cases, a dependent or minor child under your care and supervision may be required to file a U.S. and/or state income tax return and/or international informational report (example: FinCEN Form 114 (FBAR)). Generally, this is a service for which we will provide under this Engagement as a “dependent tax filing” billed based on our most current standard tax preparation fee schedule. However, in some circumstances we may require that an additional engagement letter be completed by the you, the parent or guardian. We will notify you if we determine this to be required. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant [...]
2021 Entity Tax Return Engagement Letter (E-R)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. Returns Covered under the Engagement With this letter, you are engaging us to: Prepare your 2021 U.S. and state income tax returns with all required accompanying forms, statements, and schedules Perform the necessary bookkeeping for preparation of the income tax returns We will provide these services based on the information you furnish to us as described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities, regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other documents requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation necessary to support the data used in the preparation of your tax returns should you be required to produce them upon examination by the taxing authorities. Client Due Diligence We will provide you with guidance on the timeline for submitting your tax information to us. It is your responsibility to provide your [...]
2021 Entity Tax Return Engagement Letter (E-G)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. Returns Covered under the Engagement With this letter, you are engaging us to: Prepare your 2021 U.S. and state income tax returns with all required accompanying forms, statements, and schedules Perform the necessary bookkeeping for preparation of the income tax returns We will provide these services based on the information you furnish to us as described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities, regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other documents requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation necessary to support the data used in the preparation of your tax returns should you be required to produce them upon examination by the taxing authorities. Client Due Diligence We will provide you with guidance on the timeline for submitting your tax information to us. It is your responsibility to provide your [...]
2020 Fiduciary Tax Return Engagement Letter (F-CR)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2021 U.S. and state fiduciary income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other document requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation [...]
2021 Entity Tax Return Engagement Letter (E-CR)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. Returns Covered under the Engagement With this letter, you are engaging us to: Prepare your 2021 U.S. and state income tax returns with all required accompanying forms, statements, and schedules Perform the necessary bookkeeping for preparation of the income tax returns We will provide these services based on the information you furnish to us as described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities, regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other documents requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation necessary to support the data used in the preparation of your tax returns should you be required to produce them upon examination by the taxing authorities. Client Due Diligence We will provide you with guidance on the timeline for submitting your tax information to us. It is your responsibility to provide your [...]
2021 Individual Tax Return Engagement Letter (R)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2021 U.S. and state individual income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Dependent or Minor Children Tax Returns In some cases, a dependent or minor child under your care and supervision may be required to file a U.S. and/or state income tax return and/or international informational report (example: FinCEN Form 114 (FBAR)). Generally, this is a service for which we will provide under this Engagement as a “dependent tax filing” billed based on our most current standard tax preparation fee schedule. However, in some circumstances we may require that an additional engagement letter be completed by the you, the parent or guardian. We will notify you if we determine this to be required. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant [...]
2021 Fiduciary Tax Return Engagement Letter (F-G)
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will provide. This way, you know what to expect from us, and we can endeavor to delight you with high-quality, seamless services. We strive to make our tax return process as straightforward and convenient as possible for you. Our goal is to minimize any hassle on your end while also making things as efficient as possible on our end. This allows us to deliver your returns expediently, while also bringing to bear a high level of technical expertise and personal service. It also helps us keep our costs down for all clients. Returns Covered under the Engagement With this letter, you are engaging us to prepare your 2021 U.S. and state fiduciary income tax returns. We will do so with the information you furnish to us in the process described below. If you have taxable income or loss in a state or locality other than your resident state, please let us know, and we would be pleased to prepare the required nonresident state tax return(s). In addition, you may have a filing requirement or tax liability in a foreign country. Generally, you are responsible to determine whether you must file and pay taxes in a foreign country; however, upon request, we would be pleased to assist you in making these determinations. We will not prepare any tax returns other than those identified above, without your written request, and our written consent to do so. We will prepare the above-referenced tax returns solely for filing with the Internal Revenue Service (“IRS”) and applicable state and local tax authorities. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any and all claims arising from the use of the tax returns for any purpose other than filing with the IRS, state and local tax authorities regardless of the nature of the claim, including the negligence of any party. This engagement is limited to the professional services outlined above. Information Gathering and Submittal Process You are responsible for fully and accurately disclosing to us all relevant facts affecting your returns. To help you assemble the information needed for your returns, we will provide you with a questionnaire, organizer, and/or other document requesting specific information. Once your information is assembled and organizers/questionnaires are complete, you will submit your complete information to us. Please know that failure to provide information via completed questionnaires and organizers may require an extraordinary effort on our part, which may be reflected in our fee for service. We will not audit or otherwise verify the information you provide us; however, we may ask for additional clarification of some information. You should maintain the documentation [...]
2021 Gift Tax Return Engagement Letter (G)
Dear Client: The Wolf Group, P.C. is pleased to provide you with the professional services described below. This letter, and the attached Additional Engagement Terms and any other attachments incorporated herein (collectively, “Agreement”), confirm our understanding of the terms and objectives of our engagement and the nature and limitations of the services we will provide. The engagement between you and our firm will be governed by the terms of this Agreement. Engagement Objective and Scope We will prepare the following federal gift tax return for the year ended December 31, 2021: Form 709: United States Gift (and Generation-Skipping Transfer) Tax Return Federal and state law governs your obligation to file a gift tax return and pay gift tax. The Internal Revenue Service (“IRS”) considers a gift to be any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money’s worth) is not received in return. Under federal tax law, certain gifts are not taxable, and taxable gifts are subject to an annual gift tax exclusion amount, which for 2021, is $15,000 per taxpayer. In addition, a lifetime gift exclusion amount applies to federal transfer taxes, which for 2021, is $11,700,000 per individual. A gift tax return is an individual filing; there is no joint gift tax return. Under certain circumstances spouses may elect to “split” gifts. If you are eligible for, and elect gift-splitting, we will also prepare your spouse’s Gift Tax Return. We will not prepare any tax returns except those identified above, without your written request, and our written consent to do so. We will prepare your gift tax return based upon information and representations that you provide to us. We have not been engaged to and will not prepare financial statements. We will not audit or otherwise verify the data you submit to us, although we may ask you to clarify certain information. We will prepare the above-referenced gift tax return solely for filing with the IRS and state and local tax authorities as identified above. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any, and all, claims arising from the use of the tax return for any purpose other than filing with the IRS and other tax authorities regardless of the nature of the claim, including the negligence of any party. The scope of our engagement is limited to the preparation of the gift tax return listed above. It may include tax advice related to the preparation of the gift tax return. Our engagement does not include any procedures designed to detect errors, fraud, or theft. Therefore, our engagement cannot be relied upon to disclose such matters. This engagement is limited to the professional services outlined above. CPA Firm Responsibilities Unless otherwise noted, we will perform our services in accordance with the Statements on Standards for Tax Services (“SSTS”) issued by the American Institute of [...]
2021 Gift Tax Return Engagement Letter (R)
Dear Client: The Wolf Group, P.C. is pleased to provide you with the professional services described below. This letter, and the attached Additional Engagement Terms and any other attachments incorporated herein (collectively, “Agreement”), confirm our understanding of the terms and objectives of our engagement and the nature and limitations of the services we will provide. The engagement between you and our firm will be governed by the terms of this Agreement. Engagement Objective and Scope We will prepare the following federal gift tax return for the year ended December 31, 2021: Form 709: United States Gift (and Generation-Skipping Transfer) Tax Return Federal and state law governs your obligation to file a gift tax return and pay gift tax. The Internal Revenue Service (“IRS”) considers a gift to be any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money’s worth) is not received in return. Under federal tax law, certain gifts are not taxable, and taxable gifts are subject to an annual gift tax exclusion amount, which for 2021, is $15,000 per taxpayer. In addition, a lifetime gift exclusion amount applies to federal transfer taxes, which for 2021, is $11,700,000, per individual. A gift tax return is an individual filing; there is no joint gift tax return. Under certain circumstances spouses may elect to “split” gifts. If you are eligible for, and elect gift-splitting, we will also prepare your spouse’s Gift Tax Return. We will not prepare any tax returns except those identified above, without your written request, and our written consent to do so. We will prepare your gift tax return based upon information and representations that you provide to us. We have not been engaged to and will not prepare financial statements. We will not audit or otherwise verify the data you submit to us, although we may ask you to clarify certain information. We will prepare the above-referenced gift tax return solely for filing with the IRS and state and local tax authorities as identified above. Our work is not intended to benefit or influence any third party, either to obtain credit or for any other purpose. You agree to indemnify and hold us harmless with respect to any, and all, claims arising from the use of the tax return for any purpose other than filing with the IRS and other tax authorities regardless of the nature of the claim, including the negligence of any party. The scope of our engagement is limited to the preparation of the gift tax return listed above. It may include tax advice related to the preparation of the gift tax return. Our engagement does not include any procedures designed to detect errors, fraud, or theft. Therefore, our engagement cannot be relied upon to disclose such matters. This engagement is limited to the professional services outlined above. CPA Firm Responsibilities Unless otherwise noted, we will perform our services in accordance with the Statements on Standards for Tax Services (“SSTS”) issued by the American Institute of [...]
May 2022
Executive Order: US Professionals Can No Longer Provide Services to Clients inside the Russian Federation
As of June 7, US companies and individuals will be prohibited from providing services to anyone located within the Russian Federation, including US citizens living in Russia. Background On April 6, 2022, President Biden signed Executive Order 14071, prohibiting new investment and services to those inside the Russian Federation, in response to “Continued Russian Aggression.” Then, on May 8, 2022, the Department of Treasury’s Office of Foreign Assets Control (OFAC) issued additional guidance related to the order. Details Who is prohibited from providing services? US Citizens and lawful permanent residents Companies and entities organized under US laws or jurisdictions (including foreign branches) Any person in the United States , Which services are prohibited? Per Executive Order Section 1(a)(ii): (ii) the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, of any category of services as may be determined by the Secretary of the Treasury, in consultation with the Secretary of State, to any person located in the Russian Federation (emphasis added). OFAC defines “any category of services” as “accounting, trust and corporate formation, and management consulting services to any person located in the Russian Federation.” As indicated in the OFAC announcement, Today’s action means that the Russian Federation and Russian elites will no longer benefit from U.S. companies’ valuable accounting, trust and corporate formation, and management consulting services. Who qualifies as "any person located in the Russian Federation"? Services cannot be provided to anyone located in the 22 republics that constitute the Russian Federation: 1. Adygea, 2. Altai, 3. Bashkortostan, 4. Buryatia, 5. Chechnya, 6. Chuvashia, 7. Crimea, 8. Dagestan, 9. Ingushetia, 10. Kabardino-Balkaria, 11. Kalmykia, 12. Karachay-Cherkessia, 13. Karelia, 14. Khakassia, 15. Komi, 16. Mari El, 17. Mordovia, 18. North Ossetia–Alania, 19. Sakha, 20. Tatarstan, 21. Tuva, 22. Udmurtia. Services cannot be provided to: Individuals, regardless of citizenship, residing in any of the 22 republics Companies, regardless of ownership, located in any of the 22 republics Sanctioned individuals and executives related to Russian banks, companies, and political figures, regardless of location of residence Certain specifically listed companies, subsidiaries, financial organizations, media organizations, etc., with Russian ties Services can be provided to: Citizens of Russian Federation countries who reside permanently outside of the Russian Federation (assuming they are not sanctioned or listed, as indicated above) Entities located in the Russian Federation that are owned or controlled, directly or indirectly, by a US person (assuming that the US person resides outside of the Russian Federation) Entities that are winding down or divesting of entities located in the Russian Federation so long as they are not owned or controlled, directly or indirectly, by a Russian person. When Does This Mean for US Professionals? The prohibition takes effect starting on June 7, 2022, and remains in place indefinitely. Failure to abide by this Executive Order is a “strict-liability” offense. This means that sanctions can be imposed even if US persons were not aware that their [...]
