Fillable 2020 Individual Tax Packet (Martin James Certified Public Accountants)

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2020 Individual Tax Packet (Martin James Certified Public Accountants)

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Securities, advisory services and certain variables insurance products are offered through World Equity Group, Inc. (WEG), member

FINRA/SIPC, a Registered Broker/Dealer, a Federally Registered Investment Advisor. Martin James CPA, PC and Martin James

Investment & Tax Management, LLC are not affiliated with World Equity Group, Inc. WEG does not provide tax advice. Martin James

is a registered Representative of World Equity Group, Inc.

Dear Client:

Enclosed you will find the following information related to the preparation of your 2020

income tax return.

1. Engagement letter – the purpose of this letter is to communicate our

understanding of the services we are to provide. Please read this document. If

you have any questions, please call.

2. 2020 Questionnaire

3. 2020 Disclosures policies

4. 2020 Consent to Use of Tax Information

5. Offer for the Audit Fee Protection Program

6. Bank Account Verification for Direct Deposit

It is very important that you complete the questionnaires in their entirety. The

complexity of our current tax system dictates the use of such a questionnaire. Tax law

gives us some real opportunities at times and without certain information those

opportunities can be missed. If we don’t receive information from you by March 22nd,

or February 14

for individuals needing to apply for student financial aid, it may be

necessary to file an extension for your 2020 tax return.

If you are wanting us to prepare your extension, please notify our office by April 2, 2021.

We look forward to a long relationship.

Sincerely,

Martin James, CPA/PFS

RE: 2020 Individual Tax Return Preparation Engagement Letter

Dear Client:

We are pleased to confirm and specify the terms of our engagement with you and to clarify the nature and extent of the

services we will provide regarding the preparation of the income tax return(s) and tax planning services. Please review,

sign, and return to us upon receipt.

We will prepare your 2020 federal income tax return, and applicable tax returns for the state and local taxing authorities in

which you deemed yourself a resident or have notified us of taxable activity in 2020 (collectively, the "returns"). We will

also prepare (if applicable) any separate federal, state and local tax filings required due to taxable activity being generated

from a single member LLC you owned in 2020, and those services will be covered under the terms of this engagement letter.

This engagement pertains only to the 2020 tax year and 2021 tax planning, and our responsibilities do not include preparation

of any other tax return years that may be due to any taxing authority.

We will prepare the returns from information that you will furnish to us. It is your responsibility to provide all the

information required for the preparation of complete and accurate returns. We will not audit or otherwise verify the

information you submit. To the extent we render any services, it will be limited to those tasks we deem necessary for the

preparation of the returns only. Accordingly, our engagement cannot be relied upon to disclose errors, fraud, or other illegal

acts that may exist.

The timeliness of your cooperation is essential to our ability to complete this engagement. Specifically, we must receive

sufficient information from which to prepare the returns within a reasonable period of time prior to the applicable filing

deadline. Accordingly, if we do not receive this information from you, as noted above, by March 22, 2021, it may be

necessary for us to pursue extensions of the due date of the returns. If the appropriate amount of tax is not paid by the

original due date of the returns, you may be subject to late filing penalties on your 2020 income tax returns, and, if applicable,

underpayments of estimated tax penalties.

Throughout the year 2021, we may be called upon to provide tax planning advice or services. Our ability to provide you

with appropriate guidance will be entirely dependent on the timeliness, accuracy, and completeness of the relevant

information you provide to us. If such services are requested by you, all of the terms, conditions and representations of this

engagement letter shall apply.

We may encounter instances where the tax law is unclear, or where there may be conflicts between the taxing authorities'

interpretations of the law and other supportable positions. In those instances, we will outline in a written communication

each of the reasonable alternative courses of action, including the risks and consequences of each such alternative. In the

end, we will adopt, on your behalf, the alternative which you select after having considered the information provided by us.

Our fees for this engagement are not contingent on the results of our service. Rather, our fees for this engagement will be

based on a number of factors, including but not limited to, the time spent as well as the complexity of the services we will

perform. In addition, you agree to reimburse us for any out-of-pocket costs incurred in connection with the performance of

our services.

Our fees and costs are payable upon receipt. We may bill monthly as work progresses. We reserve the right to suspend our

services or to withdraw from this engagement in the event that any of our invoices are deemed delinquent. In the event that

any collection action is required to collect unpaid balances due us, you agree to reimburse us for the costs of collection

including attorneys' fees.

If we do not receive this letter from you, in fully executed form, but we receive supporting documentation requested therein,

then such receipt by this office shall be deemed to evidence your acceptance of all of the terms set forth in this letter and in

the ADDITIONAL TERMS, CONDITIONS, AND REPRESENTATIONS attached hereto. If we do not receive any

response to this letter, we will not proceed to provide any professional services, and we will not prepare the tax returns.

This engagement letter is contractual in nature, and includes all of the relevant terms and conditions that will govern the

engagement for which it has been prepared. The terms and conditions of this letter supersede any prior oral or written

representations or commitments by or between the parties. Any material changes or additions to the terms and conditions

set forth in this letter will only become effective if evidenced by a written amendment to this letter, signed by all of the

parties. If any provision of the letter and/or the ADDITIONAL TERMS, CONDITIONS, AND REPRESENTATIONS

attached hereto is declared invalid or unenforceable, the remaining provisions shall remain in effect.

In the last section of this engagement letter, you will find an INDIVIDUAL TAX QUESTIONNAIRE. Please take a

moment to complete this document. Doing so will help ensure the most accurate tax filing possible. If any question is left

blank or the questionnaire is not returned, the answer is assumed to be “No.”

We look forward to providing our services to you. If you have any questions concerning the terms of this engagement,

please feel free to ask us. If you agree with the terms of this engagement letter and the ADDITIONAL TERMS,

CONDITIONS, AND REPRESENTATIONS, please sign below and return it to us. These engagement terms will apply

until either you or we cancel them.

Sincerely,

Martin James, CPA, PFS

Martin James, CPA, PC

ACCEPTED AND AGREED:

____________________________________ _________

Taxpayer Signature Date

____________________________________ _________

Spouse Signature Date

ADDITIONAL TERMS, CONDITIONS, AND REPRESENTATIONS

1. We are responsible for preparing only the state and local returns which we have historically prepared and which you

authorize us to prepare. If you have taxable activity in a state or local municipality that has not historically been

recognized on a return filing, please discuss with us. We will assist you in determining whether or not a filing

requirement exists with the state or local municipality. If you have tax filing requirements in a given state or local

municipality but do not file that return, there could be possible adverse ramifications, such as an unlimited statute of

limitations, penalties, etc. State income tax requirements change rapidly. You may have a filing requirement for a state

for which you have not filed in previous years because the state’s filing requirements have changed.

2. Our engagement will be fulfilled upon delivery of the completed returns to you. Therefore, you have the final

responsibility for the tax returns and should review them carefully before you sign and file the returns with the

appropriate taxing authorities and/or authorize us to e-file them on your behalf.

3. Pursuant to standards prescribed in IRS Circular 230 and IRC 6694, we are forbidden from signing a tax return unless

we have a reasonable belief that there is substantial authority for a tax position taken on the return or we have a

reasonable basis for a tax position taken on the return and we disclose this tax position on a separate attachment to the

tax return. Substantial authority is generally viewed by tax professionals as requiring at least a 40% probability that the

tax position taken will be sustained on its merits. However, under no circumstances may we sign a tax return with a tax

position that has no reasonable basis.

4. Your returns may be selected for review by the taxing authorities or you may receive a notice requesting a response to

certain issues on the tax returns. Any proposed adjustments by the examining agent are subject to certain rights of

appeal. In the event of such government tax examination or inquiry, we will be available upon request to represent you

or respond to such inquiry. If such services are requested by you, all of the terms, conditions, and representations of

this engagement letter shall apply, and we will render additional invoices for these services and any expenses incurred.

5. The law provides various penalties and interest that may be imposed when taxpayers understate their tax liability and/or

fail to pay the full amount of taxes owed by the original filing due date. Furthermore, additional penalties and interest

are imposed when taxpayers fail to remit the proper amount of subsequent year tax estimates. Based on information

you provide to us, we can assist you in determining the correct amount of taxes owed for the current year and subsequent

year tax estimates. You acknowledge that any such understated or underestimated tax, and any imposed interest and

penalty thereon, are your responsibility, and that we have no responsibility in that regard. If you would like information

on the amount or the circumstances of these interest and penalties, please contact us.

6. To the best of your knowledge and belief, and unless specifically indicated to us that the representation below cannot

be made, you confirm that:

• You have disclosed all reportable transactions. These include but are not limited to listed transactions

that the IRS has determined to be a tax avoidance transaction; transactions which produce

questionable tax shelters, tax deductions, losses, or credits; require confidentiality by you or a related

party and for which you or a related party paid an advisor a minimum fee; a transaction for which

fees are contingent on your realization of tax benefits from the transaction or refundable if all or part

of the intended tax consequences of the transaction are not sustained; or a transaction that results in

you claiming a significant loss of at least $2 million in any single year or $4 million in any

combination of tax years (at least $50,000 for a single year if the loss arose as a result of a foreign

currency transaction).

• You have disclosed the use of any mortgage proceeds for purposes other than to acquire, construct,

or substantially improve your main or second home.

• You have disclosed any dividend income on shares of stock that you did not own for at least 61 days

during the 121-day period beginning 61 days before the ex-dividend date.

• You have disclosed if you materially participated in any pass-through entity (such as an S-

Corporation, LLC, or Partnership).

Note:

Any determination of material participation in a pass-through entity is complex and based on certain

facts and circumstances that may be particular to your personal situation. If you are unsure as to

whether you did materially participate in a pass-through entity, please contact us.

• You have disclosed if you have a financial interest in (direct or indirect), or signature or other

authority over, bank accounts, securities, or other financial accounts having an aggregate value

exceeding $10,000 at any time during the calendar year in a foreign country.

Note:

If you have a financial interest in any foreign accounts, you must electronically file the FinCEN Form

114, Report of Foreign Bank and Financial Accounts (“FBAR”), as required by the U.S. Department

of the Treasury. Such filing requirements apply to taxpayers that have direct or indirect control over

a foreign or domestic entity with foreign financial accounts, even if the taxpayer does not have foreign

account(s). For example, a corporate-owned foreign account would require filings by the corporation

and by the individual corporate officers with signature authority.

If you fail to disclose the required information to the U.S. Department of the Treasury, the failure to

disclose may result in substantial civil and/or criminal penalties. You are responsible for providing

our firm with all the information necessary to prepare the FBAR. Failure to file can result in

penalties ranging from $10,000 to the greater of $100,000 or 50% of account balances. If you

do not provide our firm with information regarding any interest you may have in a foreign account,

we will not be able to prepare any of the required disclosure statements.

• You have disclosed if the total value of specified foreign financial assets you own are more than

$100,000 ($50,000 if unmarried or married filing separately) on the last day of the tax year or more

than $150,000 ($75,000 if unmarried or married filing separately) at any time during the tax year.

Specified foreign financial assets are defined as accounts maintained by a foreign financial institution, stocks

and securities with a non-U.S. issuer, an interest in a foreign partnership, trust or estate, a financial instrument

or contract with a non-U.S. issuer or counterparty, etc.

Note:

If you have specified foreign financial assets above the threshold amounts provided above, you are

required to report this ownership on Form 8938 and include with your Form 1040.

If you fail to disclose the required information to the Internal Revenue Service, the failure to disclose

may result in substantial civil and/or criminal penalties. You are responsible for providing our firm

with all the information necessary to prepare Form 8938. Failure to file can result in penalties

ranging from $10,000 to $60,000. If you do not provide our firm with information regarding any

interest you may have in a specified foreign financial asset, we will not be able to prepare the form,

nor your tax returns.

• You have disclosed all related party transactions between you, family members and/or a business in

which the business shareholders, partners or members have a related interest with you. These types

of transactions include borrowing and/or lending funds, paying and/or receiving rents, buying and/or

selling products or property, and performing and/or receiving services.

7. The Tax Cuts and Jobs Act of 2017 added Section 199A to the Internal Revenue Code. This section allows a deduction

to the owner of a pass-through entity of 20% of the qualified income from a qualified trade or business subject to certain

limitations. The deduction is available to a sole proprietor, a partner in a partnership, a shareholder in an S corporation,

and certain trusts. The IRS has issued final regulations regarding the deduction. Guidance is particularly vague on

when a rental activity qualifies for the deduction. The determination is made by evaluating the facts and circumstances

of each business and referring to judicial history related to when an activity is a trade or business. The regulations

provide a safe harbor for taxpayers who participate in a rental enterprise for 250 hours or more through their own activity

or the activity of agents and employees. For tax years beginning January 1, 2020, taxpayers must maintain

contemporaneous records such as time logs to substantiate the 250-hour requirement. These records must include a

description of all services performed, hours spent performing such services, the dates on which the services were

performed, and personnel who performed the services. If applicable, we will assist you, based on information you

provide and guidance available at the time, in determining which of your businesses is a qualified trade or business for

the §199A deduction, and we will calculate the amount of the deduction. Upon audit, the IRS may challenge our

position. We are not responsible for any additional taxes, penalties, or interest that may be assessed related to the §199A

pass-through deduction.

8. In

dividuals who hold certain investments within their self-directed retirement plans, such as private equity or

leveraged real estate, may require an additional tax return filing by the retirement plan (Form 990-T) as certain

types of income recognized by these investments are considered Unrelated Business Taxable Income (UBTI).

The most common indication that your self-directed retirement plan has UBTI is the receipt of a K-1 in its

name. However, a self-directed retirement plan can generate UBTI in other ways. If your self-directed

retirement plan has made any investment which generates UBTI, you need to contact your plan custodian to

determine what additional steps, if any, are required to comply with the current tax laws.

To t

he best of your knowledge and belief, and unless specifically indicated to us that a representation cannot be

made, you confirm that your self-directed retirement plan(s) have not recognized any UBTI and therefore do

not require additional filings to comply with current federal tax law. This engagement letter does not include

the filing of Form 990-T.

9. You s

hould retain all documents, canceled checks and other data that form the basis of income and deductions. These

may be necessary to prove the accuracy and completeness of the returns to a taxing authority, and as such, you should

retain and protect these records. You are responsible for substantiating any amount upon which a deduction is taken on

the return. The type of deduction taken will determine the specific substantiation needed. The following is a list of

common deductions taken on a tax return and the substantiation required for each.

• Aut

omobile Expenses - Mileage logs and trip sheets for each trip. Commuting miles between home

and a fixed work location are not considered deductible business miles.

• Meals Expense (100% deductible) - Business meals for the benefit of employees who are not highly

compensated, such as holiday parties, lunches for staff meetings, birthdays, and company outings if

only the employees and their families attend (no clients).

• Me

als Expense (50% deductible) – Includes meals with an employee, meals during travel, and meals

with clients. Business meals with clients require documentation substantiating who the client was and

the business purpose of the meal. A receipt is not required for expenses under $75, but documentation

is still required. Meals in conjunction with entertaining clients at any event, such as a sporting event,

etc., requires documentation substantiating that there was a bona fide business discussion prior to,

during, or following the meal/entertainment event if the meals are invoiced and paid separately from

the entertainment or, if meals and entertainment are billed together, the meals are listed as a separate

item on the invoice.

• Entertainment expenses are not deductible.

• Cha

ritable Cash Contributions (in any one day to any one organization):

o In tax year 2020, taxpayers who do not itemize their deductions on Schedule A are eligible

to take an above-the-line deduction of up to $300 for cash contributions made to qualified

charitable organizations.

o Less than $250 – A bank record (e.g. canceled check/ credit card statement) or a written

acknowledgement from the charity.

o $250 or more – Both a bank record and written acknowledgement from the charity.

• Ch

aritable Non-Cash Contributions (in any one day to any one organization):

o Deduction of less than $250 - A receipt or a written acknowledgement from the charity.

o Deduction between $250 and $500 - A written acknowledgement by the charitable

organization.

o Deduction between $501 and $5,000 - Same records required as the $250 to $500 category.

In addition, records must show how the property was acquired, the date acquired, and the

adjusted basis of the property.

o Deduction of more than $5,000 - Same records required as the $501 to $5,000 category. In

addition, most contributions require a written appraisal.

te:

The list above provides only general guidance on substantiating a limited number of deduction types. There

are many other types. If you are unsure as to whether or not the information you possess is sufficient to

substantiate a deduction, please contact us.

10. We

reserve the right to suspend our services or withdraw from this engagement. If we elect to terminate our services,

our engagement will be deemed to have been completed upon written notification of termination, even if we have not

completed the return. You will be obligated, through the date of termination, to compensate us for all outstanding

invoices as well as our final invoice, and to reimburse us for all of our out-of-pocket costs. For these purposes, any

nonpayment, inability to sign the tax return, or non-response by you of information requested (among other things) will

constitute a basis for our election to terminate our services.

11. It is our policy to retain copies of engagement documentation for a period of seven years (five years for former clients),

after which time we will commence the process of destroying the contents of our engagement files. Any work papers

prepared in conjunction with this engagement are our property, constitute confidential information, and will be retained

by us in accordance with this record retention policy. To the extent we accumulate any of your original records during

the engagement, those documents will be returned to you promptly upon completion of the engagement.

12. In t

he interest of facilitating our services to you, we may communicate with you by means of electronic communications,

such as fax, email, or via our client portal. While we will use our best efforts to keep such communications secure in

accordance with our obligations under applicable laws and professional standards, you recognize and accept that we

have no control over the unauthorized interception of these communications once they have been sent and you consent

to our use of these devices during this engagement. You agree that we shall have no liability for any loss or damage to

any person or entity resulting from the use of email transmissions, including any consequential, incidental, direct,

indirect, or special damages, such as loss of revenues or anticipated profits, or disclosure or communication of

confidential or proprietary information. It is our belief that electronic communication provides the greatest privacy by

eliminating paper trails of confidential information. As such, and unless you tell us otherwise, the client’s copy of the

prepared tax return will be presented back to you in a PDF file format via our web-based client portal. If you would

still like us to send you a paper copy of the tax return, please contact our office.

13. IRS regulations require that we electronically file (e-file) all tax returns, and it is our belief that this type of filing

provides the greatest security. However, you do have the right to “opt-out” from e-filing by notifying us, in writing, of

this desire.

14. Although we may orally discuss tax issues with you from time to time, such discussions will not constitute advice upon

which we intend for you to rely on for any purpose. Rather, any advice upon which we intend for you to rely, and upon

which you will rely, will be embodied in a written report or correspondence from us to you, and any such writing will

supersede any prior oral representations between the parties on the issue.

15. In the event we are required to respond to a subpoena, court order or other legal process for the production of documents,

work papers and/or testimony relative to information we obtained and/or prepared during the course of this engagement,

you acknowledge our right to release this information and agree to compensate us for the time we expend in connection

with such response and to reimburse us for all of our out-of-pocket costs incurred in that regard.

16. If the income tax returns we are to prepare in connection with this engagement are joint returns, and because you will

each sign those returns, each of you is our client. You each acknowledge that there is no expectation of privacy from

the other concerning our services in connection with this engagement, and we are at liberty to share with either of you,

without the prior consent of the other, any and all documents and other information concerning preparation of your

returns.

17. In the event that we become obligated to pay any judgment under a court proceeding, an award under any mediation

proceeding, or penalty assessed by any taxing authority in our capacity as a tax preparer, you agree to pay any costs

incurred as a result of any inaccurate or incomplete information that you provided to us during the course of this

engagement. You agree to indemnify us, defend us, and hold us harmless against such obligations and/or costs. Any

litigation arising out of this engagement, except actions by us to enforce payment of our professional invoices, must be

filed within one year from the completion of the engagement, notwithstanding any statutory provision to the contrary.

In the event of litigation brought against us, any judgment you obtain shall be limited in amount, and shall not exceed

the amount of the fee charged by us, and paid by you, for the services set forth in this engagement letter.

18. You agree that any dispute that may arise regarding the meaning, performance or enforcement of this engagement will,

prior to resorting to litigation, be submitted to mediation, and that you will engage in the mediation process in good

faith once a written request to mediate has been given by either party to the engagement. Any mediation initiated as a

result of this engagement shall be administered by a law firm specializing in the mediation process, not associated with

either party, and selected by us, according to its mediation rules. Any ensuing litigation shall be conducted within the

County of Morgan, Indiana according to Indiana law. The results of any such mediation shall be binding only upon

agreement of each party to be bound. The costs of any mediation proceeding shall be shared equally by the participating

parties.

19. Unless you tell us otherwise, we will presume that you authorize us to discuss certain aspects of your tax returns with

the IRS and certain states/ local municipalities, if necessary.

2020 INDIVIDUAL QUESTIONNAIRE

Please review this questionnaire, which will provide us with information that normally does not come from third party

sources (such as W-2s, 1099s, and 1098s) or written representations from you (such as real estate taxes paid during the

year or charitable contributions). If any question is left blank or the questionnaire is not returned, the answer is assumed

to be “No” or “0.”

MARCH 22, 2021 – deadline to submit information, before an extension may be required

COMPLETION IS MANDATORY

Taxpayer Name: _______________________________ Taxpayer Date of Birth: ________________________

Spouse Name: _________________________________ Spouse Date of Birth: __________________________

Address: _____________________________________ County (as of 1/1/20): __________________________

_____________________________________ Home Phone: _________________________________

E-mail: ______________________________________ Cell Phone: ___________________________________

Personal Information:

Yes

Did you get married, divorced, or widowed at any time during the year?

If you are married, do you and your spouse want to file separate returns?

Did you receive an Economic Impact Payment aka “Stimulus Check”

If yes, what was the amount of your payment?

Did you perform services as a self-employed individual and take leave due to certain corona virus-

related care for oneself or another individual?

Dependents:

Yes

Can you or your spouse be claimed as a dependent by another taxpayer?

Were there any changes in dependents from the prior year? The determination of whether another

individual may be claimed as a dependent can be complex. If you have any question about the

exemption in respect of another person, please complete the Dependency Determination Schedule at the

end of this Questionnaire.

If yes and adding a dependent, please provide the following information. If more than one addition, please include on a

separate attachment.

Name:

Social Security No.:

Date of Birth:

No. of Months Living at

Residence:

If yes and removing a dependent, please identify below. If more than one deletion, please include on a separate attachment.

Name:

Did you pay for childcare or other qualifying care for a dependent (such as a parent) while you worked

or looked for work?

2020 INDIVIDUAL QUESTIONNAIRE

Dependents (Continued):

If yes, please provide the following information:

Amounts Paid is 2020: $

Provider’s Name:

Provider’s Address:

Social Security/EIN No.:

Do you have any children under the age of 18 on 1/1/21 or under the age of 24 on 1/1/21 and were full-

time students with wages, interest, or dividend income, or who have sold any stock in 2020?

If yes, do you want us to prepare their return(s)?

Did you adopt a child or begin adoption proceedings during 2020?

Home/Residence:

Yes

Did the residence for which you claimed the first-time homebuyer credit cease to be your principal

residence in 2020?

What was the amount of the credit claimed?

If yes, on what day and year was the home purchased?

If yes, on what day and year was the home sold?

Did you have a mortgage balance at any time during the year greater than $750,000

HSA (Health Savings Account):

Yes

Did you or your spouse have a Health Savings Account (HSA)?

NOTE: If you our your spouse received a distribution from an HSA, please attach Form 1099SA.

If yes, was it a single plan or family plan?

Gambling:

Yes

Do you have any gambling losses (to the extent of gambling winnings)?

Gambling losses need to be substantiated with contemporaneous gambling logs or other

documentation. Can you substantiate your gambling losses with the required supporting

documentation?

Amount of Loss in 2020:

2020 INDIVIDUAL QUESTIONNAIRE

Checklist to assist you in gathering your information:

Complete the following checklist of common items that are used to prepare your individual tax return. Please

indicate the number of the items that pertain to your return. EXAMPLE: If you & your spouse has one job

each, then you will have 2 W-2’s. If you only have interest income from one source then number will be 1

1099-INT, etc.

Number of

Forms

Items of Income

Compensation – Wages/Salary (W-2s)

Interest Income (1099-INTs)

Dividend Income (1099-DIVs)

Capital Gains/Losses (1099-Bs and Realized Gains/Loss Statements)

Sale of Real Estate (1099-Ss, Settlement Sheets, Cost Basis)

Self Employment /Business Income (1099-MISCs, Credit Card

Statements, and Associated Expenses)

Rental Real Estate Income (1099-MISCs and Associated Expenses)

Partnership, S-Corporation, Trust/Estate Income (K-1s)

State/Local Tax Refunds (1099-Gs)

IRA and Pension Income (1099-Rs)

Social Security Benefits (1099-SSAs)

Alimony and Unemployment Compensation (1099-Gs)

Long-term Care (1099-LTCs)

Cancellation of Debt Income (1099-Cs)

Gambling Income (1099-MISCs or W-2Gs)

Other Income: List

Income Adjustments:

Self-Employed Health Insurance (1099-SAs)

IRA/SEP Contributions

Tuition Expenses Paid (1098-Ts)

Tuition Plan Contributions/Withdrawals (1099-Qs)

Student Loan Interest Paid (1098-Es)

Other Adjustments: List

Items of Deductions & Credits:

Medical Expenses

Real Estate Taxes (1098s or Real Estate Tax Bills)

Mortgage Interest (1098s)

Investment Interest Expense

Charitable Contributions

Other Deductions: List

Child and Dependent Care Expenses

Health Care (1095s)

Other Credits: List

Please provide any additional tax documentation, so that we may accurately include all taxable income you may have received

throughout they year. If you are uncertain, provide the information and we will determine the tax impact.

2020 INDIVIDUAL QUESTIONNAIRE

Schedule A - Itemized Deductions Information:

Yes

Are you claiming a deduction for mortgage interest expense and real estate taxes paid on your personal

residence or second home? (Defined as a dwelling that provides basic living accommodations such as sleeping

space, toilet, and cooking facilities.)

If yes, please provide all 1098 mortgage interest statements and all real estate tax bills for 2020.

If all real estate taxes paid are not reported on a 1098, please provide all real estate tax bills for 2020, or

indicate the amount in the space provided. Amount Paid in 2020:

Are you claiming a deduction for mortgage interest paid to a financial institution, for which someone else

received the Form 1098?

If yes, please provide the following information:

Amounts Paid in 2020:

Individual’s Name:

Social Security/EIN No.:

Are you claiming a deduction for mortgage interest paid to an individual or other non-financial institution and

did not receive the Form 1098?

If yes, please provide the following information: Amounts Paid in 2020: $

Lender’s Name:

Social Security/EIN No.:

Did you make any large purchases, such as a motor vehicle, RV or boat in 2020?

If yes, please provide the invoice amount & sales tax paid on the transaction.

Did you incur any casualty or theft losses during the year?

If yes, provide the following details:

Description of Loss:

Property on Which Loss Occurred:

Amount of Loss in 2020: $

Amount Reimbursed by Insurance in 2020: $

Charitable Contributions:

Yes

For contributions made with cash to a charitable organization, do you have receipts substantiating the amount

given? Receipts are required regardless of the dollar amount, even for as little as a $1 contribution.

If yes, what is the amount of cash contributions?

For each contribution in the amount of less than $250 and made with checks or credit cards to a charitable

organization, do you have a receipt or cancelled check substantiating the amount given? Receipts or cancelled

checks are required regardless of the dollar amount, even for as little as a

$1 contribution.

If yes, what is the amount of check/credit card contributions?

For each contribution in the amount of $250 or more and made with checks or credit cards to a charitable

organization, do you have written acknowledgement from the charity substantiating the amount given?

Written acknowledgements are required. Cancelled checks are insufficient.

If yes, what is the amount of check/credit card contributions?

For each contribution of clothing and household goods made to a charitable organization valued at an amount

of less than $250, are these items in good condition or better?

If yes, what is the total value of the clothing or household items given?

For each contribution of clothing and household goods made to a charitable organization valued at an amount

between $250 and $499, are these items in good condition or better and do you have a receipt substantiating

the value of these items?

If yes, what is the total value of the clothing or household items given?

2020 INDIVIDUAL QUESTIONNAIRE

Charitable Contributions (Continued):

Yes

For each contribution of clothing and household goods made to a charitable organization valued at an amount

of $500 or more, are these items in good condition or better and do you have a receipt substantiating the value

of these items?

If yes, please provide the following information (if more than one contribution, please attach a separate

sheet):

Name of Charity:

Amount Given in 2020:

Address of Charity:

Have you made any other types of charitable contributions (such as appreciated property)?

If yes, please provide details:

Schedule C - Self-Employment/Business Income and Expenses:

Yes

Did you defer payment of 50% of the Social Security tax imposed for the period beginning on March 27,

2020 and ending on December 31, 2020.

Did you receive a Paycheck Protection Program Loan?

If yes, how much?

Did you make payments of fees and other non-employee compensation, interest, rents, royalties, real estate

transactions, annuities, or pensions?

If yes, did you file all required Forms 1099?

Did you pay employees wages from a trade or business? If so, please include FormsW-2 and W-3 for the

calculation of the wage limit for the new pass-through deduction if applicable.

Did you start, continue or dispose of a business activity during the past year? If yes, please discuss the matter

with one of our tax managers.

If yes, please provide a list of your related business revenue and expenses (including health insurance), any newly acquired

business assets, and assets that were disposed of in 2020.

Were you or your spouse eligible to be covered under an employer’s health plan at another job?

If yes, how many months were you covered?

Months:

Did you use any part of your personal residence as a home office?

Do you have un-reimbursed business automobile expenses?

Mileage From January 1, 2020 to December 31, 2020:

Total Miles Driven:

Total Business Miles Driven:

Schedule D - Capital Transactions:

Yes

Did you sell any type of asset (rental real estate, vacation home(s), land, securities, bonds, privately held

corporations or partnerships, collectibles, etc.) and did not receive a Form 1099-B and/or Form 1099-S?

If yes, please attach a statement of cost basis, dates of purchase, date of sale, and sales price.

If you sold a security or bond at a loss, did you buy back the identical security or bond sold within 30 days

before or after the sale?

Did any securities sold this year pay a stock dividend or have a stock split?

Was the sale of any asset in conjunction with a plan to acquire a like-kind asset in a §1031 exchange?

Did you receive a note receivable from the buyer as part or all of your proceeds from the sale?

If you sold any asset at a loss, were you related to the buyer?

Did you receive grants of stock options from your employer, exercise any stock options granted to you, or

dispose of any stock acquired under a qualified employee stock purchase plan?

If yes, please provide support (statements/schedules from your employer).

Did you engage in any put or call transactions?

Did you invest in a Qualified Opportunity Fund? If so, please provide documentation.

2020 INDIVIDUAL QUESTIONNAIRE

Schedule D - Capital Transactions: (Continued)

Yes

Did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency at

any time during 2020?

Did you have any debts canceled, forgiven, or refinanced during 2020?

Did you trade real property for other real property in a like-kind exchange transaction?

Schedule D - Principal Residence Transactions:

Yes

Have you refinanced a mortgage or taken out a home equity loan on your principal residence this year?

Did you use any of the proceeds for any other purpose than improving your principal residence? If so,

please provide a detail of the use of the proceeds.

Did you refinance your principal mortgage in a prior year and use proceeds for any other purpose than

improving your principal residence? If so, please provide the supporting documentation.

Did you sell your principal residence in 2020? If no, go to the next section. If yes:

Did you occupy the home as your principal residence for at least 2 years out of the 5-year period prior to

the sale?

Did you ever rent out this property?

Are there any years after 2008 for which the house was not your principal residence?

If the home was acquired prior to May 7, 1997, did you defer the gain from the sale of a prior

residence by reinvesting the proceeds within two years?

Did you ever use any portion of the home for business purposes?

Have you or your spouse sold a principal residence within the last 2 years?

At the time of the sale, the principal residence was owned by:

Taxpayer

Spouse

Both

Schedule E/F - Rental or Farm Income and Expenses:

Yes

Did you purchase, continue or dispose of a rental or farm activity during the past year? If yes, please discuss

the matter with one of our tax managers.

If yes, please provide a list of your related rental or farm revenue and expenses, any newly acquired

business assets, and assets that were disposed of in 2020.

Schedule E - Income from S-Corporations, Partnerships or Trust/Estates:

Yes

Did you purchase, continue or dispose of a privately held business activity during the past year in which you

have or are to receive a Schedule K-1?

If yes, please provide K-1 and discuss the matter with one of our tax managers

Are you or did you become during the past year a beneficiary of a trust or estate in which you have or are to

receive a Schedule K-1?

If yes, please provided K-1 and discuss the matter with one of our tax managers.

IRA/Pension Contributions and Distributions:

Yes

If you made a corona virus related distribution, the distribution is generally included in income ratably over a

three-year period, unless you elect to include the entire distribution in your income for they year of the

distribution. Do you elect to recognize the entire distribution in 2020?

If you made a corona virus-related distribution, you may repay the distribution to your retirement plan within

three years (the tax year in which the payout is made and the following two years), unless you elect no to

apply this treatment. If you repay a corona virus-related distribution, the distribution will be treated as

though it were repaid in a direct trustee-to-trustee transfer so that you will not owe federal income tax on the

distribution. The recontributed amounts will not count toward the maximum contribution limit in the year

that the funds are recontributed. Do you elect to repay the corona virus-related distribution to your retirement

plan within the next three years?

Did you or your spouse withdraw any amounts from your Individual Retirement Account (IRA), Roth IRA,

or pension plan?

If yes, was it to acquire a principal residence or pay for qualified higher education expense?

2020 INDIVIDUAL QUESTIONNAIRE

IRA/Pension Contributions and Distributions: (Continued)

Yes

If yes, were any distributions from your IRA and/or Roth IRA distributed directly to a charitable

organization?

Did you make a nondeductible contribution to a traditional IRA?

If yes, indicate amount contributed:

Did you or your spouse make a contribution to a retirement plan, 401k, SIMPLE, SEP, or IRA that is not

reported on your W-2 or K-1?

If yes, indicate amount contributed:

Taxpayer’s Retirement Plan

and Contribution Amount:

Spouse’s Retirement Plan and

Contribution Amount:

Did you or your spouse contribute to a Roth IRA?

If yes, indicate amount contributed:

Taxpayer’s Contribution

Amount:

Spouse’s Contribution Amount:

Did you or your spouse convert an existing IRA to a Roth IRA?

If yes, indicate the amount converted:

Taxpayer’s Conversion Amount:

Spouse’s Conversion Amount:

Did you retire or change jobs in 2020?

Did you receive retirement or severance compensation?

Did you or your spouse turn age 72 (or were older than 72) during 2020 and have money in an IRA or other

retirement account without taking your required minimum distribution?

Energy Credits:

Yes

Did you purchase and place in operation any of the following:

Property that uses solar energy to generate electricity for use in a dwelling unit;

Property that at least half of the energy used by such property for the purpose of heating the dwelling is

derived from the sun;

Property that uses a wind turbine to generate electricity for use in a dwelling unit;

Property that uses the ground or ground water as a thermal energy source to heat the dwelling unit or as a

thermal energy sink to cool such dwelling unit; and/or

An integrated system comprised of a fuel cell stack assembly and associated balance of plant components

that converts a fuel into electricity using electrochemical means?

Do you have manufacturers’ tax credit certification statements?

If so, what were the amounts paid in 2020, INCLUDING labor costs for installation?

Gifts:

Yes

Did you or your spouse make any gifts, including birthday, holiday, anniversary, graduation, etc., with a total

aggregate value in excess of $15,000 to any individual during the year?

Did you or your spouse assist in the purchase of any asset (auto, home, etc.) for any individual during the

year?

Did you or your spouse make any gifts to a trust for any amount during the year?

Do you or your spouse have a life insurance trust?

Did you or your spouse forgive any indebtedness to any individual, trust, or entity during the year?

If yes, please explain:

2020 INDIVIDUAL QUESTIONNAIRE

Education:

Yes

Did you or your dependents incur any post-secondary education expense, such as tuition?

If yes, indicate the dependent, the type of expenses and the amount paid:

Dependent’s name:

Year of Post-Secondary Education:

Type of Educational Expenses:

Amounts Paid in 2020:

Has the dependent student taken less than ½ of the normal full time workload in their course of study?

Has the dependent student ever had a felony conviction for possessing or distributing a controlled substance?

Did you or your spouse withdraw amounts from a Qualified Education Program (Section 529 plan) or

Coverdell Education Savings Account that was not used for qualified higher education expenses or for tuition

for grades K-12 of a public, private or religious school? (Grades K-12 are limited to $10,000 annually

Did you or your spouse make any contributions to a Qualified Education Plan (Section 529 plan) or a

Coverdell Educational Savings Account during 2020?

If yes, please enter the following information:

Name of Designated

Beneficiary:

Social Security No.

State Sponsoring

Plan

Account No.

Amount

Contributed in

2020

Did you pay any student loan interest?

Did you have children who were home schooled or were attending a private school?

If yes:

# of children:

Amount of unreimbursed expenditures: $

Miscellaneous:

Yes

Did you move to a different home because of a change in the location of your job? (Active-duty military only)

Did you have any one household employee to whom you paid cash wages of $2,100 for the entire year, or

with respect to whom you withheld any federal income tax? Did you pay cash wages to all household

employees in excess of $1,000 in any 2020 calendar quarter?

Did you file employment tax returns for these household employees?

Did you receive unreported tip income of $20 or more in any month in 2020?

Did you purchase any personal property (normally subject to sales tax) and did not pay state sales/use tax?

Did you or your spouse receive distributions from long-term care insurance contracts? If yes, include Form

1099-LTC.

Did you purchase a new “qualified fuel cell motor vehicle”?

Did you use gasoline or special fuels for business or farm purposes (other than for a highway vehicle) during

the year?

Did you receive a punitive damage award or an award from damages other than for physical illness or injury?

Did you receive any payments from insurance companies, legal settlements, disability payments, or other

taxable income?

With respect to any trust you have created or for which you are the trustee, have any beneficiaries died during

2020?

Did you engage in any bartering transactions?

Did you create or transfer money or property to a foreign trust?

2020 INDIVIDUAL QUESTIONNAIRE

Miscellaneous: (Continued)

Yes

Were you or your spouse a grantor or transferor for a foreign trust, have an interest in or a signature or other

authority over a bank account, securities account, or other financial account in a foreign country? If yes,

FinCen Form 114, Report of Foreign Bank and Financial Accounts must be filed. Failure to file can result

in penalties

Do you know, or did you at any time during 2020, have an interest in any financial accounts maintained by a

foreign financial institution, stocks & securities with a non-U.S. issuer, an interest in a foreign partnership, trust

or estate, or a financial instrument or contract with a non-U.S. issuer or counterparty?

Financial accounts include deposit and custodial accounts held at foreign financial institutions, a foreign

financial account holding foreign stock or securities, foreign partnership interests, foreign mutual funds, foreign

issued life insurance or annuity contracts, and foreign hedge and private equity funds.

Financial accounts do NOT include financial accounts held at the foreign branch of a U.S. financial institution

or at the U.S. branch of a foreign financial institution, indirect interest in foreign financial assets held through

an entity, domestic mutual funds investing in foreign stocks and securities, directly owned foreign real estate,

foreign currency, directly owned precious metals and directly owned personal property such as art, antiques,

jewelry, cars, and other collectibles. If so, check the applicable response.

If you are filing as a single person or as a married person filing separately living in the United States, did the

total value of such assets at any time during the year exceed $50,000?

If you are filing as a single person or as a married person filing separately and your tax home in 2020 was in a

foreign country, did the total value of such assets at any time during the year exceed $200,000?

If you are filing as married filing jointly living in the United States, did the total value of such assets at any

time during the year exceed $100,000?

If you are filing as married filing jointly and your tax home in 2020 was in a foreign country, did the total

value of such assets at any time during the year exceed $400,000?

Have you been involved in a reportable transaction? These are transactions which produce questionable tax

shelters, transactions which provide refunds of lost tax benefits, and/or require strict confidentiality of the

transaction’s tax benefits that result in significant amounts of losses with book to tax differences or provide

tax credits with holding periods of less than 45 days. Tax avoidance transactions are included in this category

Trust:

Do you have a revocable living trust?

If yes, is it the primary or contingent beneficiary of any IRA’s?

Local Earned Income and Business Privilege Tax Returns:

Yes

Does your resident jurisdiction require the filing of a local earned income tax/school tax or business privilege

tax returns? Note: It is the taxpayer’s responsibility to inform us if a local tax return is required within their

resident jurisdiction. Please provide the local forms whenever possible.

2019 Federal and State Estimated Tax Payments:

Date Paid

Federal Amount

State Amount

2020 1st Qtr. ES – due 7-15-20

(extended due to COVID-19)

2020 2nd Qtr. ES – due 7-15-20

(extended due to COVID-19)

2020 3rd Qtr. ES – due 9-15-20

2020 4th Qtr. ES – due 1-15-21

2020 INDIVIDUAL QUESTIONNAIRE

2021 Tax Planning:

Yes

Refund Application: If you have an overpayment of 2020 taxes, do you want the excess:

Refunded via a check in the mail?

Refunded via Direct Deposit? If so, Complete Bank Account Verification Form

Applied to the 2021 estimated tax liability?

Do you expect any of the following to occur in 2021:

A change in your marital status;

A change in the number of dependents;

A substantial change in your income;

A substantial change in your withholdings; and/or

A substantial change in your deductions?

Authorization:

Yes

With your authorization YES or NO, we can obtain information from the IRS and certain states which

allow us to verify credits, payments, etc., for your tax account online.

2020 INDIVIDUAL QUESTIONNAIRE

Appendix A – Medical & Dental Expenses

Medical and dental expenses, such as: doctors, dentists, nurses, hospital and nursing homes, lab fees and x-rays, medical and

surgical supplies, hearing aids, guide dogs, eye glasses and contact lenses, and insurance reimbursements received:

Description:

Amount:

Medical insurance premiums you paid:

Long-term care premiums you paid: Indiana Partnership Plan

Taxpayer:

Yes No

Spouse:

Yes No

Prescription medicines & drugs:

Medical Miles Driven:________________________

Did you make modifications to your home for medical purposes? If so, please provide details:

2020 INDIVIDUAL QUESTIONNAIRE

Appendix B – Charitable Contributions

Contributions made by cash or check:

Description:

Amount:

Were any distributions taken from your IRA and/or Roth IRA distributed directly to a

charitable organization? YES NO

Volunteer Miles Driven:_______________________________________

Noncash items, such as: Goodwill, Salvation Army:

Appendix C – Interest & Tax Expenses

Description:

Amount:

Home Mortgage Interest Paid:

Real Estate Taxes Paid:

Auto Excise Tax Paid:

2020 INDIVIDUAL QUESTIONNAIRE

THIS QUESTIONNAIRE APPLIES ONLY IF YOU HAVE RECEIVED K-1s OR HAVE A

RENTAL REAL ESTATE ACTIVITY. PLEASE ANSWER ALL QUESTIONS. FAILURE TO

ANSWER WILL BE TREATED AS A “NO” RESPONSE AND BLANK AMOUNTS WILL BE

TREATED AS ZERO AMOUNTS.

S corporation and partnership/LLC:

Yes

Did you participate in the operation and management of any business for which you received a K-1?

If so, which ones?

Name of K-1 issuer

Hours of participation

Can you substantiate the hours claimed for each above-named activity?

S corporation and partnership/LLC:

Self-charged interest

Yes

Did you receive interest on a loan you made to any business for which you received a K-1?

If so, which ones and

how much?

Name of K-1 issuer

Interest received

Rental real estate:

Self-charged rents

Yes

Did you rent real estate for consideration to a partnership, LLC, C corporation, or S corporation in which

you participated?

If so, how many hours, did you participate in the trade or business of such

partnership, LLC, C corporation, or S corporation?

Can you substantiate such hours claimed?

Rental real estate:

Real estate professional

Yes

Did you perform

services in any one or

more of the

following:

Activity

Development and/or redevelopment

Construction and/or reconstruction

Acquisition

Conversion

Rental or leasing

Operation

Management

Brokerage

Did the number of hours performing services in all such activities exceed 750?

Can you substantiate such hours claimed?

Did the number of hours performing services in a rental activity exceed 500?

Can you substantiate such hours claimed?

RE: 2020 Individual Tax Return Disclosure Policies

Dear Client:

This letter serves to inform you of this firm’s policy of disclosure with respect to tax return information in

connection with the above engagement.

We shall not knowingly or recklessly disclose the information you furnish us except as provided by law. We may

disclose tax return information to an officer or employee of the Internal Revenue Service.

If the firm provides software to you that is used in connection with the preparation or filing of your tax return, the

tax return preparer may use your tax return information to update your software for the purpose of addressing

changes in IRS forms, e-file specifications and administrative, regulatory and legislative guidance, or to test and

ensure the software's technical capabilities without the taxpayer's consent. In addition, an officer, employee, or

member of the firm may use the tax return information, or disclose the tax return information to another officer,

employee, or member of the same firm, for the purpose of performing services that assist in the preparation of, or

assist in providing auxiliary services in connection with the preparation of, the taxpayer's tax return, except with

respect to such individuals who are located outside the United States or any territory or possession of the United

States unless you give consent to such use or disclosure.

In general, an officer, employee, or member of the firm may disclose tax return information to another tax return

preparer (who is not an officer, employee, or member of the firm located in the United States (including any territory

or possession of the United States) for the purpose of preparing or assisting in preparing a tax return, or obtaining

or providing auxiliary services in connection with the preparation of any tax return, so long as the services provided

are not substantive determinations or advice affecting the tax liability reported by taxpayers. A substantive

determination involves an analysis, interpretation, or application of the law. The authorized disclosures permitted

include one tax return preparer disclosing tax return information to another tax return preparer for the purpose of

having the second tax return preparer transfer that information to, and compute the tax liability on, your tax return

by means of electronic, mechanical, or other form of tax return processing service. The authorized disclosures

permitted also include disclosures by a tax return preparer to an Authorized IRS e-file Provider for the purpose of

electronically filing the return with the IRS. Authorized disclosures also include disclosures to a second tax return

preparer for the purpose of making information concerning the return available to the taxpayer. This would include,

for example, whether the return has been accepted or rejected by the IRS, or the status of your refund. The firm may

not disclose tax return information to another tax return preparer for the purpose of the second tax return preparer

providing substantive determinations without first receiving the taxpayer's consent. The firm may disclose tax return

information to a person under contract with the tax return preparer in connection with the programming,

maintenance, repair, testing, or procurement of equipment or software used for purposes of tax return preparation

only to the extent necessary for the person to provide the contracted services, and only if the tax return preparer

ensures that all individuals who are to receive disclosures of tax return information receive a written notice that

informs them of the applicability of §§6713 and 7216 to them and describes the requirements and penalties of such

sections.

In preparing a tax return of a second taxpayer, the firm may use, and may disclose to the second taxpayer in the

form in which it appears on the return, any tax return information that the tax return preparer obtained from you if

the second taxpayer is related to you, and your tax interest in the information is not adverse to the second taxpayer's

tax interest in the information. However, you may expressly prohibit such disclosure or use. For these purposes, a

taxpayer is related to another taxpayer if they have any one of the following relationships: Husband and wife, child

and parent, grandchild and grandparent, partner and partnership, trust or estate and beneficiary.

The disclosure limitations do not apply to the order of any court of record, federal, state, or local; a subpoena issued

by a grand jury, federal or state; a subpoena issued by the United States Congress; an administrative order, demand,

summons or subpoena that is issued in the performance of its duties by any federal agency, or a state agency, body,

or commission charged under the laws of the state or a political subdivision of the state with the licensing,

registration, or regulation of tax return preparers; a written request from a professional association ethics committee

or board investigating the ethical conduct of the tax return preparer; or a written request from the Public Company

Accounting Oversight Board in connection with an inspection under §104 of the Sarbanes-Oxley Act of 2002, or

an investigation under §105 of such Act, for use in accordance with such Act. The firm may disclose tax return

information to an attorney for purposes of securing legal advice; to an employee of the Treasury Department for

use in connection with any investigation of the tax return preparer (including investigations relating to the tax return

preparer in its capacity as a practitioner) conducted by the IRS or the Treasury Department; or to any officer of a

court for use in connection with proceedings involving the tax return preparer (including proceedings involving the

tax return preparer in its capacity as a practitioner), or the return preparer's client, before the court or before any

grand jury that may be convened by the court.

The firm may use your tax return information, or disclose the information to another officer, employee or member

of the firm, consistent with applicable legal and ethical responsibilities, who may use the tax return information for

the purpose of providing other legal or accounting services to you. As an example, an accountant who prepares a

tax return for you may use the tax return information, or disclose it to another officer, employee or member of the

firm, for use in connection with the preparation of books and records, working papers, or accounting statements or

reports for you. In the normal course of rendering the accounting services to you, the accountant may make the tax

return information available to third parties, including stockholders, management, suppliers, or lenders, consistent

with the applicable legal and ethical responsibilities, unless you direct otherwise.

A tax return preparer's accounting firm does not include any related or affiliated firms. For example, if accounting

firm A is affiliated with accounting firm B, officers, employees, and members of accounting firm A must receive a

taxpayer's consent before disclosing the taxpayer's tax return information to an officer, employee, or member of

accounting firm B.

The firm may, consistent with the applicable legal and ethical responsibilities, take your tax return information into

account, and may act upon it, in the course of performing accounting services for another client, or disclose the

information to another officer, employee or member of the firm to enable that other officer, employee or member

to take the information into account, and act upon it, in the course of performing accounting services for another

client. This is permissible when the information is, or may be, relevant to the subject matter of the accounting

services for the other client, and consideration of the information by those performing the services is necessary for

the proper performance of the services. In no event, however, may the tax return information be disclosed to a

person who is not an officer, employee or member of the accounting firm, unless the disclosure is exempt from the

disclosure provisions.

If, after furnishing tax return information to the firm, the [trust or estate] becomes incompetent, insolvent, or

bankrupt, or its assets are placed in conservatorship or receivership, the firm may disclose the information to the

duly appointed fiduciary of such estate, or to the duly authorized agent of such fiduciary.

The uses and disclosures with respect to software preparation, other tax return preparers within the firm, and tax

return preparers located outside the United States, as well as the disclosures to other tax return preparers within the

United States and the disclosures to programming and maintenance contractors permitted above apply to the

disclosure of any tax return information in the preparation of, or in connection with the preparation of, any tax

return under the law of any state or political subdivision thereof, of the District of Columbia, of any territory or

possession of the United States, or of a country other than the United States. The nondisclosure and non-use

provisions do not apply to the use by the firm of any tax return information in the preparation of, or in connection

with the preparation of, any tax return of yours under the law of any state or political subdivision thereof, of the

District of Columbia, of any territory or possession of the United States, or of a country other than the United States.

They also do not apply to the disclosure or use by any tax return preparer of any tax return information in the audit

of, or in connection with the audit of, any tax return of yours under the law of any state or political subdivision

thereof, the District of Columbia, or any territory or possession of the United States.

The firm may use and disclose tax return information that you provide to us to pay for tax preparation services to

the extent necessary to process or collect the payment. For example, if you give us a credit card to pay for tax

preparation services, the firm may disclose your name, credit card number, credit card expiration date, and amount

due for tax preparation services to the credit card company, as necessary, to process the payment. Any tax return

information that you did not give us for the purpose of making payment for tax preparation services may not be

used or disclosed by the firm without your prior written consent, unless otherwise permitted under another

provision.

The firm may retain your tax return information, including copies of tax returns, in paper or electronic format,

prepared on the basis of the tax return information, and may use the information in connection with the preparation

of another of your tax returns or in connection with an examination by the Internal Revenue Service of any tax

return or subsequent tax litigation relating to the tax return. The firm may compile and maintain a separate list

containing solely the names, addresses, email addresses, and phone numbers of taxpayers whose tax returns the

firm has prepared or processed. This list may be used by the compiler solely to contact the taxpayers on the list for

the purpose of providing tax information (and general business or economic information or analysis for educational

purposes), or soliciting additional tax return preparation services. The list may not be used to solicit any service or

product other than tax return preparation services. The compiler of the list may not transfer the taxpayer list, or any

part thereof, to any other person unless the transfer takes place in conjunction with the sale or other disposition of

the compiler's tax return preparation business.

Due diligence conducted prior to a proposed sale of a compiler's tax return preparation business is in conjunction

with the sale or other disposition of a compiler's tax return preparation business, and will not constitute a transfer

of the list if conducted pursuant to a written agreement that requires confidentiality of the tax return information

disclosed and expressly prohibits the further use or disclosure of the tax return information for any purpose other

than that related to the purchase of the tax return preparation business. The tax return information submitted for the

purpose of due diligence as authorized in this paragraph is a disclosure of tax return information subject to the

provisions of this section.

A person who acquires a taxpayer list, or a part thereof, in conjunction with a sale or other disposition of a tax return

preparation business is subject to the provisions of this paragraph with respect to the list. The term ‘list’ includes

any record or system whereby the names and addresses of taxpayers are retained.

The firm may use, for the limited purpose specified, tax return information to produce a statistical compilation of

data. The purpose and use of the statistical compilation must relate directly to the internal management or support

of the firm's tax return preparation business, or to bona fide research or public policy discussions concerning state

or federal taxation or requiring data acquired during the tax return preparation process. The firm will not disclose

the compilation, or any part thereof, to any other person unless disclosure of the statistical compilation is anonymous

as to taxpayer identity, does not disclose cells containing data from fewer than ten tax returns, and is in direct

support of the firm's tax return preparation business or of bona fide research or public policy discussions concerning

state or federal taxation or requiring data acquired during the tax return preparation process. A statistical compilation

is anonymous as to taxpayer identity if it is in a form which cannot be associated with, or otherwise identify, directly

or indirectly, a particular taxpayer. For these purposes, marketing and advertising is in direct support of the tax

return preparer's tax return preparation business provided the marketing and advertising is not false, misleading, or

unduly influential. This does not authorize the use or disclosure in marketing or advertising of any statistical

compilations, or part thereof, that identify dollar amounts of refunds, credits, or deductions associated with tax

returns, or percentages relating thereto, whether or not the data are statistical, averaged, aggregated, or anonymous.

Disclosures made in support of fundraising activities conducted by Volunteer Return Preparation programs and

other 501(c) organizations in direct support of their tax return preparation businesses are not marketing and

advertising under this paragraph. The firm may disclose the compilation in order to comply with financial

accounting or regulatory reporting requirements whether or not the statistical compilation is anonymous as to

taxpayer identity or discloses cells containing data from fewer than ten tax returns.

The tax return preparer may not sell or exchange for value a statistical compilation of data, in whole or in part,

except in conjunction with the transfer of assets made pursuant to the sale or other disposition of the tax return

preparer's tax return preparation business. The provisions regarding the transfer of a taxpayer list also apply to the

transfer of any statistical compilations of data. A person who acquires a statistical compilation, or a part thereof, in

conjunction with a sale or other disposition of the firm’s tax return preparation business, is subject to these

limitations with respect to the compilation.

The firm may disclose your tax return information for the purpose of a quality or peer review to the extent necessary

to accomplish the review. A quality or peer review is a review that is undertaken to evaluate, monitor, and improve

the quality and accuracy of a tax return preparer's tax preparation, accounting, or auditing services. A quality or

peer review may be conducted only by attorneys, certified public accountants, enrolled agents, and enrolled

actuaries who are eligible to practice before the Internal Revenue Service. Tax return information may also be

disclosed to persons who provide administrative or support services to an individual who is conducting a quality or

peer review, but only to the extent necessary for the reviewer to conduct the review. Tax return information gathered

in conducting a review may be used only for purposes of a review. No tax return information identifying a taxpayer

will be disclosed in any evaluative reports or recommendations that may be accessible to any person other than the

reviewer or the tax return preparer being reviewed. The tax return preparer being reviewed will maintain a record

of the review, including the information reviewed and the identity of the persons conducting the review. After

completion of the review, no documents containing information that may identify any taxpayer by name or

identification number may be retained by a reviewer or by the reviewer's administrative or support personnel.

These limitations do not apply to any disclosure necessary to accomplish a conflict review. A conflict review is a

review undertaken to comply with requirements established by any federal, state, or local law, agency, board or

commission, or by a professional association ethics committee or board, to either identify, evaluate, and monitor

actual or potential legal and ethical conflicts of interest that may arise when a tax return preparer is employed or

acquired by another tax return preparer, or to identify, evaluate, and monitor actual or potential legal and ethical

conflicts of interest that may arise when a tax return preparer is considering engaging a new client. Tax return

information gathered in conducting a conflict review may be used only for purposes of a conflict review. No tax

return information identifying a taxpayer may be disclosed in any evaluative reports or recommendations that may

be accessible to any person other than those responsible for identifying, evaluating, and monitoring legal and ethical

conflicts of interest. No tax return information identifying a taxpayer may be disclosed outside of the United States

or a territory or possession of the United States unless the disclosing and receiving tax return preparers have

procedures in place that are consistent with good business practices and designed to maintain the confidentiality of

the disclosed return information.

The firm is not prohibited from the disclosure of any tax return information to the proper federal, state, or local

official in order, and to the extent necessary, to inform the official of activities that may constitute, or may have

constituted, a violation of any criminal law or to assist the official in investigating or prosecuting a violation of

criminal law. A disclosure made in the bona fide but mistaken belief that the activities constituted a violation of

criminal law is not subject to the nondisclosure and non-use rules.

In the event of incapacity or death of the tax return preparer, disclosure of tax return information may be made for

the purpose of assisting the tax return preparer or his legal representative (or the representative of a deceased tax

return preparer's estate) in operating the tax return preparer’s business.

If you believe your tax return information has been disclosed or used improperly in a manner unauthorized by law

or without your permission, you may contact the Treasury Inspector General for Tax Administration (TIGTA) by

telephone at 1-800-366-4484, or by email at complaints@tigta.treas.gov

We trust this policy is informative, and you may contact us with any questions that you may have.

Sincerely,

Martin James, CPA, PFS

Martin James, CPA, PC

Dear Client:

RE: 2020 Consent To Use of Tax Information

Federal law requires this consent form be provided to you. Unless authorized by law, we cannot disclose your tax return

information to third parties for purposes other than the preparation and filing of your tax return without your consent. If you

consent to the disclosure of your tax return information, Federal law may not protect your tax return information from

further use or distribution.

You are not required to complete this form to engage our tax return preparation services. If we obtain your signature on

this form by conditioning our tax return preparation services on your consent, your consent will not be valid. Your consent

is valid for the amount of time that you specify. If you do not specify the duration of your consent, your consent is valid

for one year from the date of signature.

For your convenience and added value Martin James, CPA, PC offers Financial, Insurance and Tax Planning Services

through Martin James Investment & Tax Management, LLC an entity owned 100% by Martin James, CPA/PC. Martin

James, CPA/PFS and Kyle James, CPA/PFS are Registered Representatives and Investment Advisor Representatives of

World Equity Group, Inc a broker/dealer that is not affiliated with Martin James, CPA/PC or Martin James Investment &

Tax Management. To determine whether these services may be of interest to you, Martin James, CPA, PC. will need to use

your tax return information.

If you would like Martin James, CPA, PC to use your tax return information to determine whether these services are relevant

to you while we are preparing your return, please check the corresponding box, provide the information requested below,

and sign and date this consent to the use of your tax return information.

I/We ___________________________ authorize Martin James, CPA, PFS to use the information I/we provide to Martin

James, CPA, PC during the preparation of my tax return for 2020 to determine whether tax, financial and investment

planning is appropriate and advisable.

Signature:_________________________________________ (taxpayer)

Signature:_________________________________________ (spouse, if applicable)

Date:_______________________

If you believe your tax return information has been disclosed or used improperly in a manner unauthorized by law or without

your permission, you may contact the Treasury Inspector General for Tax Administration (TIGTA) by telephone at 1-800-

366-4484, or by email at complaints@tigta.treas.gov

We trust this policy is informative, and you may contact us with any questions that you may have.

Sincerely,

Martin James, CPA, PFS

Martin James, CPA, PC

Audit Fee Protection Program

(AFPP)

The Internal Revenue Service, the Indiana Department of Revenue and the Department of Workforce Development have

been much more active in selecting individuals and companies for exam. Technology and updated statistical information

have made our government entities much more efficient in increasing the number of tax returns that are being examined.

Exam techniques included a 1099 and K1 matching program; Exams in which you receive a letter denying your deductions

requiring you to provide support for your deductions; and actual face-to-face examinations.

The fact that you get chosen for an exam does not mean you have done anything wrong or that there was an error in the

preparation of your tax return. Exams can be the result of random chance or that your tax return contains line items or

schedules in which the government entity has determined has a high potential for non-compliance. Additionally, the Internal

Revenue Service regularly performs special project exams for certain entities, industries or items on personal returns to

establish statistical data for selecting future tax returns for exam.

Per the engagement letter for the preparation of your tax returns, our fees for representing you in an exam are not included

in the tax preparation fees. Fees for representing you will be charged at our standard hourly rates plus expenses incurred

for the exam and must be paid prior to the beginning of the exam (minimum fee schedule will apply). Depending on the

nature of the exam, these fees could be significant and well above the fees incurred for the preparation of the tax return

being examined. To alleviate the risk of incurring these fees we are offering a program that protects our clients from

additional fees resulting from representation by our firm in an exam. We refer to this program as the Audit Fee Protection

Program (AFPP). If you participate in the program, we will represent you at no charge as follows:

We will represent you in exams concerning tax returns and/or tax forms prepared by our firm, to the

extent we are allowed by our professional designations. This includes correspondence from the Internal

Revenue Service, Indiana Department of Revenue and the Department of Workforce Development.

The Audit Fee Protection Program includes only fees incurred for our representation. You will remain responsible for any

additional tax, penalties, and/or interest that may be assessed by taxing authorities. Additionally, you will be responsible

for any fees resulting from other professionals involved in your exam, which may include, but not limited to attorneys,

appraisers and expert witnesses. If at anytime any fraud or criminal investigation begins, we may withdraw from the

engagement and a recommendation to an attorney specializing in such matters will be made.

Participation in the AFPP is optional. If you elect to participate in the program you agree to cooperate with our staff by

providing all necessary documentation and source documents requested within 30-days of such request. You agree to sign

all forms necessary to allow us to properly represent you.

Martin James, CPA/PFS

Martin James CPA, PC/Martin James, Investment and Tax Management, LLC

Audit Fee Protection Program

Fee Schedule

To participate in the program, indicate by checking the appropriate box and signing below.

Fees are as follows:

Annual Audit Fee Protection Program:

Individual

$55

Individuals with (Schedules C, E and F)

$105

Individuals with multiple securities sales on Schedule D

$75

Corporations & Partnerships

$165

Trusts and Estate 1041

$85

Estate 706

$300

Gift 709

$75

Minimum Fee Schedule Without Audit Fee Protection Program

Individual Audits

$425

Corporation & Partnership Audits

$875

Estates 706

$1,250

Correspondence

$200

Please check:

_______ YES, I wish to participate in the Audit Fee Protection Program and acknowledge that I will be billed annually for

the protection unless I inform you that I do not wish to participate.

________ NO, I do not wish to participate in the Audit Fee Protection Program and acknowledge that I will be billed at

least the minimum fee per occurrence without Audit Protection.

_______________________________ _____________

Printed Date

_______________________________

Signed

_______________________________ ______________

Printed Date

________________________________

Signed

**MANDATORY COMPLETION IF YOU WANT

DIRECT DEPOSIT**

Bank Account Verification

For Direct Deposit

If you would like to receive a refund via direct deposit into your bank account, per IRS Security

Summit requirements, complete the name of the financial institution, routing transit number,

account number, and type of account below. Sign and date at the bottom to indicate that the

account listed is correct and return to our office.

Name of Financial Institution:

Routing Transit Number:

Account Number:

Type of Account: Checking: Savings:

Joint Account? Yes: No:

ATTACH VOIDED CHECK HERE:

VOIDED CHECK

__________________________________ _________________

Taxpayer Signature Date

__________________________________

Taxpayer Printed

__________________________________ __________________

Spouse Signature Date

__________________________________

Spouse Printed

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2020 Individual Tax Packet (Martin James Certified Public Accountants)

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