FPA – What is included?

In this month’s video, I explained what a Fixed Price Agreement or FPA is.  All of our deluxe or physician individual FPAs, as well as our business FPAs, include a set of services above and beyond preparing a tax return.

  • Tax Planning and Monitoring – throughout the year, we will check in with you to see if you have any updates to your income, deductions, and tax payments. We will use this information to update your tax projection.  As new laws and guidance is issued, we will check your situation to see if it applies and makes a difference on your tax strategy.
  • Notice Response – if you receive a notice from the IRS or state agency for a return we file, we will respond on your behalf or prepare a response for you to send in. By getting an IRS Form 2848 signed with each return we file, we also receive copies of the notices at the same time our clients do.  This often allows us to investigate the matter before you even know there is an issue.
  • Amended Returns – if you must amend your return for any reason, we will prepare the amendment at no extra charge. This comes into play if one of the entities that send you a K-1 or 1099 amend it later than your original filing.  If you forget to provide us with a document or deduction, that is covered as well.  And of course, if we determine we made a mistake after the fact, we fix that also.
  • Audit Protection – if you are ever audited on a return we prepare, we will be the primary contact for the auditor. We will help you gather together the information required and present that to them.

All of the included services are to make your life simpler.  By using us as your tax planning and advisory firm, you can focus on more important things.

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