Tax Gift Engagement Letter

Tax Gift Engagement Letter

Date of Engagement:

Scope of Engagement

The firm will prepare and file federal gift tax returns for the Taxpayer for the tax year(s) identified by the Taxpayer, specifically Form 709 and related schedules where required. Services include preparation of the gift tax return; calculation of taxable gifts; application of lifetime exemption and generation-skipping transfer considerations; preparation of required schedules; and delivery of the completed return for Taxpayer review and signature. Additional services may include valuation coordination, beneficiary allocations, and preparation of supporting workpapers as requested.

Optional services (select all that apply):

Valuation coordination and written valuation memorandum
Gift tax projections and lifetime exemption planning
Preparation and filing of extensions for gift tax returns

Fees and Billing

Fees for services rendered under this engagement will be billed on an hourly basis or on an agreed fixed-fee basis as described below. The Taxpayer agrees to pay all fees, expenses, and applicable out-of-pocket costs incurred in connection with this engagement. The firm will render periodic invoices and expects payment within thirty days of invoice.

Client Responsibilities

The Taxpayer must provide complete and accurate information necessary for preparation of the gift tax returns, including but not limited to gift descriptions, dates of gifts, values, donee information, prior year filings, and documentation supporting valuations. The Taxpayer acknowledges responsibility for the accuracy and completeness of all information supplied to the firm. The firm may rely upon information provided by the Taxpayer or third-party advisors and is not responsible for third-party valuation conclusions unless the firm expressly performs or reviews the valuation work.

Taxpayer Identification

Entity Type (check applicable):

Individual / Sole Proprietor
C Corporation
S Corporation
Partnership
Trust / Estate
LLC
Other

Provide Taxpayer Identification (complete one):

Certifications and Acknowledgements

By signing below, the Taxpayer certifies, under penalties of perjury, the following facts and acknowledgements:

1. The information provided in connection with the preparation of gift tax returns is true, correct, and complete to the best of the Taxpayer's knowledge and belief.
2. The Taxpayer's Taxpayer Identification Number(s) reported on this form are accurate, and the Taxpayer will notify the firm of any change in such numbers or status prior to filing.
3. The Taxpayer understands that the firm prepares returns and advisory work based upon information provided and that the Taxpayer is responsible for the accuracy and completeness of that information; the Taxpayer remains ultimately responsible for all positions taken on tax returns.
4. The Taxpayer authorizes the firm to discuss and disclose tax return information to third-party advisors and valuation specialists where necessary to complete the engagement and to prepare required return schedules.
5. The Taxpayer agrees to pay the firm's fees and to hold the firm harmless from liabilities resulting from materially incomplete or inaccurate information supplied by the Taxpayer or third parties retained by the Taxpayer.
6. The Taxpayer acknowledges that the firm does not guarantee any particular tax result and is not engaged to provide legal representation in contested matters except as separately agreed in writing.

I have read and agree to the terms of this engagement letter.

I certify the foregoing and consent to this engagement.

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