Tucson Tax Team LLC + 6111 East Grant Road + Tucson, AZ 85712 + (520) 777-7844
We will perform the following services in connection with your virtual currency transactions:
1. Prepare the tax return using tax guidance issue by the IRS.
2. Utilize general tax principles in those areas where IRS guidance is silent.
3. Explain options if they exist.
You understand that virtual currency tax law is in its infancy. Tucson Tax Team assumes no liability for
tax, penalties or interest that occur as a result of changes to, or clarification of, virtual currency taxation.
You also understand that you are responsible for providing correct information with regard to your
virtual currency income, fair market values, sale information, basis documentation, and any other
information required to correctly prepare your tax return.
If you are still our client when the IRS issues clarification of virtual currency tax law, we will inform
you if we believe prior year returns prepared by us should be amended in the light of new information.
Be aware that communications with us regarding your tax returns are not privileged. If we are asked
by the IRS to disclose any information regarding your taxes, we are required by law to do so. Also be
aware that prior year tax returns that are late filed or amended may require the advice of a tax attorney.
Please check which of the following apply to you:
Earned virtual currency Sold/traded virtual currency Donated virtual currency
Held virtual currency in a foreign exchange Received forked or air dropped currency
Gave/loaned virtual currency Lost virtual currency other than through sale/trade
Received virtual currency by inheritance or gift Purchased assets in an ICO
If this letter is in agreement with your understanding of our engagement, please sign below.
Virtual Currency Engagement Letter Tax Year 2020
Thank you for using Tucson Tax Team for your tax preparation needs. Clear
communication is key to a successful business relationship. The purpose of this letter
is to ensure we share an understanding of the services we provide.