Select the Tax Year this Questionnaire is for.
Relationship to Tax Payer Business Owner Accountant / Bookkeeper JES Staff Other
Business Information
How Many Business Questionnaires do you need to complete? 1 2 3 4
If you have more than 4 businesses you will need to start a new questionnaire for those additional businesses.
Business Questionnaire 1
Select the Business Entity Type S Corporation (Form 1120-S) Partnership (Form 1065) Homeowners Association (Form 1120H) C Corporation (Form 1120)
An LLC is not a business entity type for federal tax filing purposes. An LLC would file federally as one of the 4 selections listed.
Do you outsource payroll processing?
K2-K3 Waiver
The IRS has instituted two new form requirements (K-2 and K-3) comprising of 39 pages of disclosures that could delay electronic filing of the business return until mid-summer and will significantly increase tax preparation fees. These forms are not required if your partnership or S Corporation has no foreign activities AND if the individual partners or shareholders are exempt from filing foreign transaction reporting (principally IRS Form 1116 – Foreign Tax Credit) with their 2021 Individual 1040.
IRS Notice 2021-39 allows us to rely on a good faith safe harbor of your statement that you do not personally have to file IRS Form 1116 or have any other foreign transaction reporting with your 2021 individual Federal income tax return. All partners or shareholders must individual complete this waiver or we will need to prepare forms K2 and K3. If you are not required to file Form 1116 and have no other foreign transaction reporting for your 2021 individual Federal tax return please sign below. If you are unsure as to your foreign transaction reporting requirements you should consult with your Tax Advisor prior to signing this waiver.
Please select the option that applies to your business -
If K2-K3 reporting is required additional tax preparation fees will result. JES will contact you to discuss additional information required.
LLC Information
Is the business an LLC or Incorporated?
Corporation (C and Homeowners Associations)
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming -- District of Columbia Puerto Rico Guam American Samoa U.S. Virgin Islands Northern Mariana Islands
Is a separate bank account maintained for the business?
How does the business differentiate between business and personal transactions?
Did the business pay individuals for services in excess of $600?
Did the business issue or will issue 1099's to these individuals?
Does the business have written evidence to prove business use of meal expenses that includes name, date and business purpose of meal?
Does the business have written evidence to prove business use of meal expenses that includes name, date and business purpose of meal?
Did the business have any foreign income, foreign assets or foreign partners?
Did the business purchase or sell assets such as equipment?
Did your business take out any loans during the year?
Other Questions
Select the Business Entity Type PDF sent via Secure E-mail Printed and picked up at the JES Office Printed and mailed
Prior to filing the taxpayer, will need to sign Form 8879 which authorizes us to electronically file your tax return.
We cannot file the tax return without a signed 8879 Form.
How do you intend to pay our fee? By Check / Cash / Credit Card Online – the invoice will be e-mailed to you and you can pay by credit card or bank draft
Prior to filing the taxpayer, will need to sign Form 8879 which authorizes us to electronically file your tax return.
TAX PREPARATION AGREEMENT
In order to ensure an understanding of our mutual responsibilities, the following defines the terms and objectives of our engagement and the nature and limitations of the services we will provide.
Taxpayer Responsibilities
Information: It is your responsibility to provide us with the accurate and complete information required for preparation of your tax return. To assist you in compiling and documenting the information that we will need we have made available, on our web site (www.kerrbsi.com ) and at our office, an Income Tax Organizer. We strongly encourage you to complete this organizer each year.
Questionnaires: As part of the responsibility of providing us with accurate information we have provided you with questionnaires to complete. These questionnaires are essential in our ability to complete the tax return and your responses will be relied upon to answer specific questions on the return.
Change from Prior Year: It is your responsibility to notify us of any change in filing status and/or dependents from the prior year. If you do not notify us of a change we will prepare your return with the same filing status, dependents and business structure as last year.
Records Retention: It is your responsibility to ensure that you keep all documents, canceled checks, logs and other data that supports your reported income and deductions in a secure location. They may be necessary to prove accuracy and completeness of the returns to a taxing authority.
Review: You are responsible for the accuracy of your tax returns, so you should review them carefully before you sign them.
Notify Us: You will contact us immediately if you discover additional information that will lead to a change in your return, or if you receive any letters from the IRS or state taxing authorities.
Prompt Collection of Completed Returns and Supporting Documents: Once we contact you that your tax return is completed you will promptly pick up the return and all supporting documents. Supporting documents and returns left at our office for more than 30 days will be shredded.
JES Responsibilities
Information: It is your responsibility to provide us with the accurate and complete information required for preparation of your tax return. To assist you in compiling and documenting the information that we will need we have made available, on our web site (www.kerrbsi.com ) and at our office, an Income Tax Organizer. We strongly encourage you to complete this organizer each year.
Questionnaires: As part of the responsibility of providing us with accurate information we have provided you with questionnaires to complete. These questionnaires are essential in our ability to complete the tax return and your responses will be relied upon to answer specific questions on the return.
Change from Prior Year: It is your responsibility to notify us of any change in filing status and/or dependents from the prior year. If you do not notify us of a change we will prepare your return with the same filing status, dependents and business structure as last year.
Records Retention: It is your responsibility to ensure that you keep all documents, canceled checks, logs and other data that supports your reported income and deductions in a secure location. They may be necessary to prove accuracy and completeness of the returns to a taxing authority.
Review: You are responsible for the accuracy of your tax returns, so you should review them carefully before you sign them.
Notify Us: You will contact us immediately if you discover additional information that will lead to a change in your return, or if you receive any letters from the IRS or state taxing authorities.
Prompt Collection of Completed Returns and Supporting Documents: Once we contact you that your tax return is completed you will promptly pick up the return and all supporting documents. Supporting documents and returns left at our office for more than 30 days will be shredded.
Verification of Information: In preparing your return(s), we will rely on the information you provide to us. We will not audit or verify the data you submit although we may ask for clarification. We will not prepare a return where the information provided does not seem reasonable.
Due Diligence: We will exercise appropriate due diligence in preparing your return and determining the correctness of documents filed with the IRS. We will use our judgment in resolving questions where the tax law is unclear or where there may be different interpretations of the law. We will resolve such questions in your favor whenever possible.
Stand by our Work: We will make every effort to prepare an accurate return. If however we make an error, other than an error caused by incorrect information you supplied or when we were provided less than two weeks to complete the return, we will be responsible for payment of penalties up to a maximum of $2000. We will not pay interest or any additional tax due since the tax would have been payable had the return been correctly prepared, and you have had use of such monies in the interim. We will not be liable for or pay any penalties for returns where all information required to prepare the return was not provided to us at least two weeks prior to the filing deadline or final extension deadline for extended returns.
Examination Representation: Your returns, of course, are subject to review by the taxing authorities. However, just because you receive a letter from the IRS or your return is selected for audit does not mean there is a problem. We will examine any correspondence from the IRS and advise you as to actions required at no charge to you. Any additional assistance required on our part is not included in your tax preparation fee and will be billed separately at our standard billing rates.
Privacy: We maintain a file of tax returns as required by law which we have prepared and/or electronically filed. We do not share your information with anyone else, except as required by law without your written consent. If at any time you wish for us to provide your tax return to a third party, Federal law requires that you sign a specific consent form.
Disclosure: Kerr Business Services (JES) is not a CPA Firm. As such, your tax return will not be prepared or reviewed by a CPA.
JES Fees and Payment:
Base Tax Preparation Fees: Our base tax preparation fees are determined by the complexity of the return along with the organization and completeness of the information provided.
Initial Preparation Fee: Our base tax preparation fee is solely for the initial preparation of the tax return. Changes to the return (not due to an error on our part) will result in additional fees.
Tax Planning and Consulting: Tax planning and/or any tax consulting requested are not part of our base fee and will result in additional fees.
Fee Agreement: Once we begin preparation of your tax return you agree to pay our fee whether you choose to file or not.
Additional Fees: Additional fees may apply for returns where information is not complete, that require work on our part to organize and/or summarize information, or are received by JES within two weeks of the final tax deadline.
Retainer Fee: Clients for which JES did not prepare their prior year tax return and those that have an outstanding balance with JES will be required to pay a retainer fee.
Copies of Tax Returns: All clients are provided with a copy of their tax return when completed in the manner selected on the questionnaire. A fee will be charged for additional copies of the tax return requested.
Your signature signifies that the taxpayer authorized you to complete the questionnaire on their behalf and that it was completed with information provided to you by the taxpayer.