60% Expert Preparer
This Independent Contractor Agreement is made effective as of signed date below DATE: by Tax preparer Name: and Tax Preparation Company Name: Legendary Tax Service LLC
In this Agreement, the party who is contracting to receive the services shall be referred to as “Company,” and the party providing the services shall be referred to as “Preparer.”
1.DESCRIPTION OF SERVICES. Beginning on date signed, Preparer will provide a $550 non refundable setup fee to the company that is required to fulfill the contract totaling $550. The company will provide the following services (collectively, the “Services”):
Cloud Based Tax Software
Cloud Based Business Office Tools
Software Training (Self Paced Video)
The company will provide training and support to the Tax preparer and business partners. Please note that the live Tax software will be available mid December.
2. REMUNERATION FOR SERVICES. Preparer is entitled to 60% of fees from $301 to $999 collected from clients for Services unless otherwise stated in this contract. Preparer is required to issue an invoice to Company for Services provided to his/her clients that is entered in the system. Preparer will be responsible for any fees set forth in regards to Cash Advance Fees and will be deducted from the tax preparer fee. Preparer will be paid from fees actually collected and will not be paid in instances where no fees are collected from clients. Where a client’s fee will be taken from that client’s refund, Preparer will not be paid until such time as that refund is issued. Preparer will be paid biweekly via direct deposit after the fees have been collected Preparer is responsible for establishing the fee that is charged to each customer with a minimum of $150 and Maximum of $999.00. DISCOUNTS : the tax preparer will receive 50% on fees between $100 to $300. Personal Returns: fee will be a flat rate of $150+ software fees with no commissions paid on the fees if cash advance the tax preparer fee will be $150.00. All software fees automatically generated through the software must be paid on all returns.
Business Partners: Tax preparer will receive a 10% Bonus for each business partner introduced to the company. The business partner will be offered 50% commission on all fees unless otherwise stated in his or her contract. The tax preparer will be paid 10% bonus once the tax preparer has 5 paid returns and the contract has been completed and fulfilled through its entirety. The tax preparer will be responsible for making sure the business partner is suitable for the company and adheres to all the guidelines set forth in this contract. Bonuses will be paid no later than October 15, 2023 after all requirements are met via direct deposit.
W-9 and Direct Deposit forms must be submitted within 3 business days after the contract is signed. The Forms will be emailed once the contract and payment has been received .
3. TERM/TERMINATION. This agreement automatically terminates on October 15, 2023. Preparer will be subject to liability for breach of contract if, at any time prior to October 15, 2023, Preparer terminates this agreement. Similarly, Company cannot terminate this agreement prior to October 15, 2023 unless Preparer violates a term of this agreement.
4. RELATIONSHIP OF PARTIES. It is understood by the parties that Preparer is an independent contractor with respect to Company, and not an employee of Company. As such, Company will not provide fringe benefits, including health insurance benefits, paid vacation leave, or any other employee benefit, for the benefit of Preparer.
5. PTIN. Preparer is required to obtain and maintain a Preparer’s Tax Identification Number (PTIN) in accordance with the IRS’ rules and regulations in place during the period covered by this agreement. Preparer will not be allowed to prepare a return as a contractor for Company without a registered PTIN number. This agreement becomes null and void if Preparer fails to obtain or, for any reason ceases to have a valid PTIN.
6. CODE OF CONDUCT. Preparer is required to govern himself/herself in accordance with all relevant state and federal laws in particular those laws that address tax return preparation. Additionally, Preparer is required to comply with any and all relevant administrative rules and regulations, particularly IRS Circular 230. Any willful or malicious activity conducted by Preparer regarding the falsifying of documents or information in a tax return will be transferred to the Internal Revenue Service (IRS) and any other appropriate authorities. Additionally, by executing this agreement, Preparer acknowledges that he/she is aware of the due diligence requirements and penalties imposed by the IRS with respect to the preparation of returns containing refundable credits (the earned income tax credit, the child tax credit, and the education expense credit). Preparer additionally agrees to prepare returns that follow these IRS due diligence requirements and that failure to do so represents a breach of this agreement.
7. LIABILITY. Preparer is liable for following all applicable rules and regulations in the state in which they operate and the IRS for all Services rendered under this agreement. By executing this agreement, Preparer agrees to correct any errors or omissions whether intentional or inadvertent without compensation from Company. Preparer agrees that any liability associated with the provision of Services under this agreement will be that of Preparer and not Company.
8. WORK PRODUCT OWNERSHIP. Any copyrightable works, ideas, discoveries, inventions, patents, products, or other information (collectively, the “Work Product”) developed in whole or in part by Preparer in connection with the Services shall be the exclusive property of VLR Financial Solutions in accordance with Legendary Tax Service licensing agreement with Company. Upon request, Preparer shall sign all documents necessary to confirm or perfect the exclusive ownership of the Work Product by Legendary Tax Service LLC.
10. CLIENTS. Preparer is responsible for generating their own leads and clients for return preparation. Any clients obtained by Preparer are the property of Preparer. Legendary Tax Service LLC will provide support to tax preparers not to the tax preparers clients
11. OWNERSHIP OF SOCIAL MEDIA CONTACTS. Any social media contacts, including “followers” or “friends,” that are acquired through accounts (including, but not limited to email addresses, blogs, Twitter, Facebook, YouTube, or other social media networks) used or created on behalf of Company are the property of Preparer.
12. TRAINING. Preparer is required to complete all training necessary to qualify for and maintain their paid preparer status with the IRS. Company may facilitate such training, but any such training is the IRS’ training program that the IRS requires paid preparers to complete. A training assessment will be issued at the completion of the training. Preparer is required to score 70% or better on examinations conducted with respect to any training in ordered to qualify to contract with Company.
13. CONTINUING EDUCATION. Preparer is responsible for completing any and all continuing education required to maintain their PTIN as mandated by the IRS.
14. Electronic File. Preparer may submit their file for Review with all documents uploaded in the office system provided by the company. The company will make sure all files are transmitted in a timely manner. The Preparer will utilize Company’s EFIN number for the purpose of electronically filing tax returns prepared by Preparer.
15. CONFIDENTIALITY. Preparer will not at any time or in any manner, either directly or indirectly, divulge, disclose, or communicate any information that is the property of Company to any third party whether or not such conveyance personally benefits Preparer. Preparer also will not at any time or in any manner, either directly or indirectly, divulge, disclose, or communicate any information that is the property of any client of Company . Preparer will protect all such information and treat it as strictly confidential. This provision shall continue to be effective after the termination of this Agreement. Upon termination of this Agreement, Preparer will return to Company all records, notes, documentation and other items that were used, created, or controlled by Preparer during the term of this Agreement with respect to any Services provided that are required for Company to comply with any due diligence requirements imposed by the IRS.
16. FILE AND RECORD MAINTENANCE. Tax Preparer will use the secure email and filing practices . Company will maintain all client return files in accordance with rules and regulations set forth by the IRS. Preparer may access their clients’ files as needed to respond to requests from the client or the IRS. Preparer may maintain copies of their own records at a location of their choosing, but Preparer accepts all liability for any disclosures of client information that occur as a result of these files they choose to maintain. This clause does not require Company to create the files. The creation of the files is the sole
responsibility of Preparer. Preparer acknowledges that he/she is aware of the various recordkeeping and due diligence requirements associated with each return that is prepared. Preparer also acknowledges that they will follow all IRS rules with respect to file and recordkeeping.
17. OFFICE Tax Preparer will prepare returns for his/her clients. Preparer is permitted to utilize any of his/her own equipment or resources to assist in the preparation of returns for his/her clients as long as none of this utilization violates any existing licenses, covenants, etc. of Company. Preparer is free to set his/her own hours and number of hours worked.