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Scope of Services
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Preparation of Federal
and state tax returns and related tax information.
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Responses to tax compliance
questions asked by the trust administrators.
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Responses to correspondence
from taxing authorities.
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Preparation of extensions,
when required.
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Periodic review of the
tax coding and new account setup in the trust accounting system and
inform Provident Financial of such errors.
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Semi-annual administrative
and tax planning oriented presentations to trust administrators.
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Research and consultation
on trust tax issue and tax planning not to exceed 70 hours per calendar
year (additional hours billed at $75 per hour).
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Responses to inquiries
from outside accountants and attorneys in connection with preparation
of fiduciary and other returns and tax information included in the
proposal.
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Responses to inquiries
relating to returns not prepared by us, i.e. prior years returns,
subject to 50 hour basket.
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Calculate quarterly estimated
tax payments for fiduciary accounts.
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Preparation of IRS approved
substitute 1099.
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Sixty-five day election
procedure to ensure tax is minimized on complex trusts, where possible.
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