These Terms and Conditions ("Terms") govern all tax preparation and advisory services provided by Globance Tax Services, a division of Globance Financial Group LLC ("Globance," "we," "us," or "our"), to you ("Client" or "you"). These Terms are incorporated by reference into your Engagement Letter and form a binding agreement between you and Globance.
By signing the Engagement Letter or by submitting documents for tax preparation, you acknowledge that you have read, understood, and agreed to be bound by these Terms. If you do not agree to these Terms, do not proceed with our services.
Section 1Definitions
"Engagement Letter" means the letter identifying the specific services, fees, and tax year for your engagement. "Returns" means the federal and state income tax returns identified in the Engagement Letter. "Services" means all tax preparation, advisory, and related professional services provided under the Engagement Letter. "Tax Year" means the calendar year specified in the Engagement Letter for which Returns are prepared.
Section 2Scope of Services and Limitations
2.1 Limited Engagement
Our engagement is limited to the Services expressly described in the Engagement Letter. We have no obligation to provide services not specifically identified, including but not limited to: prior-year returns, amended returns, estimated tax calculations, payroll services, bookkeeping, international reporting, gift or estate tax returns, or representation before any taxing authority.
2.2 Completion of Engagement
This engagement shall be deemed complete upon the earlier of: (a) electronic transmission of your Returns to the applicable taxing authorities; (b) delivery of completed Returns to you for self-filing; or (c) termination of the engagement as provided herein.
2.3 No Audit or Verification
We will prepare your Returns based solely on information you provide. We will not audit, verify, or independently investigate the accuracy, completeness, or authenticity of any information, documents, or representations you supply. Our engagement cannot be relied upon to discover errors, fraud, embezzlement, illegal acts, or other irregularities.
2.4 Tax Positions
In preparing your Returns, we will apply professional judgment consistent with applicable law and Treasury Department Circular 230. We may take a tax position on your return if we believe there is "substantial authority" for the position. If a position has only a "reasonable basis," we may take it only with appropriate disclosure (Form 8275 or 8275-R). We cannot take positions that are frivolous or lack reasonable basis.
Section 3Foreign Account and Asset Reporting
3.1 Your Disclosure Obligation
You are solely responsible for informing us of all foreign financial accounts, foreign assets, interests in foreign entities, and foreign trust relationships. This includes accounts for which you have signature authority but no financial interest, such as employer accounts.
3.2 Penalties for Non-Compliance
Failure to disclose foreign accounts may result in: civil penalties up to $10,000 per violation for non-willful violations; civil penalties up to $100,000 or 50% of account balance for willful violations; and potential criminal prosecution including imprisonment. These penalties apply regardless of whether any tax is owed on the foreign accounts.
3.3 Limitation of Our Services
If you fail to disclose foreign accounts or assets, we cannot prepare required foreign reporting forms (FinCEN 114, Form 8938, Forms 5471, 8865, 3520, etc.). You acknowledge that any consequences resulting from your failure to disclose are solely your responsibility.
Section 4Tax Authority Examination and Representation
Your Returns may be selected for examination, audit, or inquiry by the IRS, state taxing authorities, or other governmental agencies. Selection for examination does not necessarily indicate errors on your return.
4.1 Representation Not Included
This engagement does not include representation, advocacy, or assistance with any tax examination, audit, appeal, collection matter, or correspondence with taxing authorities. Such services, if desired, require a separate written engagement agreement and are subject to additional fees.
4.2 Document Requests
If you receive correspondence from a taxing authority regarding Returns we prepared, please contact us promptly. We may be available to assist you, but such assistance will be subject to a separate engagement and fee arrangement.
Section 5Client Responsibilities
5.1 Accuracy and Completeness
You are solely responsible for the accuracy and completeness of all information provided. Any underpayment of tax, penalties, or interest resulting from inaccurate, incomplete, or misleading information is your sole responsibility. You represent that all information provided is true and correct to the best of your knowledge.
5.2 Identity Verification
To comply with IRS due diligence requirements under IRC Section 6695(g), you must provide valid government-issued photo identification and Social Security cards (or ITINs) for all taxpayers and dependents claimed. We cannot prepare returns claiming certain credits (EITC, CTC, AOTC, or Head of Household status) without completing required due diligence verification.
5.3 Timely Cooperation
You agree to provide all requested information by the deadline specified in the Engagement Letter. If we do not receive complete information by the deadline, we may file an extension on your behalf. An extension of time to file does NOT extend the deadline for payment of taxes owed. Interest and penalties accrue on unpaid balances from the original due date.
5.4 Review and Certification
You must carefully review your completed Returns before signing. By signing your return (or Form 8879 for e-filing), you certify under penalty of perjury that the information is true, correct, and complete. We recommend you retain all supporting documentation for at least seven (7) years.
5.5 Record Retention
You are responsible for maintaining adequate records, including receipts, invoices, bank statements, and other documentation supporting items on your return. These records are essential in the event of examination by taxing authorities.
Section 6Fees, Billing, and Payment
6.1 Fee Basis
Our fees are based on the complexity of your tax situation, time required, and professional judgment involved. Fees are not contingent upon results, refunds, or tax savings. The fee estimate in your Engagement Letter assumes information consistent with typical engagements; additional complexity may result in additional fees.
6.2 Payment Terms
Full payment is due upon completion of Services and prior to electronic filing. Invoices are due and payable within fifteen (15) days of the invoice date. We accept payment via ACH bank transfer, credit card, debit card, or check.
6.3 Late Payment
Invoices unpaid after thirty (30) days will accrue interest at the rate of one percent (1%) per month (12% APR). We reserve the right to suspend services, withhold delivery of completed Returns, or decline to e-file for accounts with outstanding balances.
6.4 Collection Costs
If collection efforts become necessary, you agree to reimburse us for all costs of collection, including reasonable attorneys' fees, court costs, and collection agency fees.
Section 7Tax Penalties and Interest
Federal and state tax laws impose various penalties for underpayment, late filing, late payment, substantial understatement, negligence, and fraud. These can include accuracy-related penalties (20% of underpayment), fraud penalties (75% of underpayment), and failure-to-file penalties (5% per month, up to 25%).
Section 8Tax Planning and Advisory Services
8.1 Scope of Advice
Tax planning advice, if included in your engagement, is limited to issues directly related to the preparation of your Returns for the Tax Year. Unless separately engaged in writing, we have no obligation to advise on matters outside this scope or to monitor changes in law or your circumstances.
8.2 Oral Communications
Oral discussions do not constitute formal advice upon which you should rely. Any formal advice intended for your reliance will be provided in writing. Written advice supersedes all prior oral communications on the same subject.
8.3 No Continuing Obligation
Unless separately engaged, this engagement does not create a continuing advisory relationship. We have no obligation to update you regarding changes in tax law, regulations, or rulings after completion of this engagement.
Section 9Termination
9.1 Termination by Globance
We may terminate this engagement at any time for any reason, including but not limited to: (a) non-payment; (b) failure to provide requested information; (c) failure to cooperate; (d) material breach of these Terms; (e) conflict of interest; (f) conduct requiring us to withdraw under professional or ethical standards; or (g) any reason making continuation imprudent.
9.2 Termination by Client
You may terminate this engagement at any time by written notice. Upon termination, you remain obligated to pay all fees for services rendered through the termination date.
9.3 Effect of Termination
Upon termination, we will return your original documents upon request. Work papers and files remain our property. No refund will be provided for services already rendered.
Section 10Electronic Communications and Data Security
10.1 Consent to Electronic Communication
You consent to receive communications, documents, and Returns via email, secure client portal (client.globancetax.com), or other electronic means. You acknowledge that electronic communications carry inherent risks, including interception, misdirection, or unauthorized access.
10.2 Release of Liability
To the fullest extent permitted by law, you release and hold harmless Globance from any claims arising from: (a) interception or unauthorized access to electronic communications; (b) delivery failures; (c) viruses or malicious code; or (d) other electronic communication risks. We recommend you maintain current antivirus software and verify receipt of important communications.
10.3 Security Measures
We maintain reasonable security measures to protect your information, as described in our Privacy Notice. However, no system is completely secure, and we cannot guarantee the security of electronic transmissions.
Section 11Joint Return Provisions
If we prepare a joint return, both spouses are our clients. Each spouse acknowledges: there is no expectation of confidentiality from the other spouse regarding our services; we may share any documents, communications, or information with either spouse without the other's consent; instructions from either spouse may be treated as joint instructions unless we have written contrary instructions from both spouses. In the event of separation or divorce, both spouses must notify us immediately in writing. We may withdraw from representing one or both spouses if conflicts arise.
Section 12Document Retention and Return of Records
12.1 Our Retention Policy
We retain engagement files, work papers, and copies of Returns for seven (7) years from the date of completion or as required by professional standards. After this period, files may be destroyed without notice.
12.2 Your Records
Original documents you provide will be returned upon request after completion of Services. You should retain copies of all documents submitted to us.
12.3 Our Work Product
Work papers, notes, analyses, and other materials we create (excluding your completed Returns) are our proprietary work product. We may provide copies at our discretion and upon payment of reasonable administrative costs.
Section 13Subpoenas and Legal Process
If we receive a subpoena, court order, or other legal process requiring production of documents or testimony related to this engagement, you agree to: (a) compensate us at our then-current hourly rates for all time expended in response; and (b) reimburse us for all costs, including attorneys' fees. We will provide you reasonable notice before responding, except where prohibited by law.
Section 14Indemnification
To the fullest extent permitted by Texas law, you agree to indemnify, defend, and hold harmless Globance Tax Services, Globance Financial Group LLC, and their respective members, managers, officers, employees, and agents from and against any and all claims, losses, liabilities, damages, penalties, costs, and expenses (including reasonable attorneys' fees) arising from or related to: (a) inaccurate, incomplete, or misleading information you provide; (b) your failure to disclose material information; (c) your breach of these Terms; (d) your failure to comply with tax laws; (e) penalties assessed due to your actions or omissions; or (f) your negligence, misconduct, fraud, or illegal acts.
Section 15Limitation of Liability
Aggregate Liability Cap: To the maximum extent permitted by Texas law, our aggregate liability to you for any and all claims arising out of or related to this engagement, whether in contract, tort (including negligence), or otherwise, shall not exceed the total fees paid by you to us under the Engagement Letter.
Exclusion of Consequential Damages: In no event shall we be liable for any consequential, incidental, indirect, special, exemplary, or punitive damages, including lost profits, lost business opportunities, lost revenues, loss of anticipated savings, or business interruption, regardless of foreseeability or whether we were advised of the possibility of such damages.
Carve-Out: The limitations in this Section 15 shall not apply to liability arising from our gross negligence or willful misconduct. These limitations shall survive the completion, expiration, or termination of this engagement.
Section 16Dispute Resolution
16.1 Mandatory Mediation
Any dispute arising out of or relating to this engagement (except collection of unpaid fees) must first be submitted to non-binding mediation before initiating litigation. Mediation shall be conducted in Collin County, Texas, by a mutually agreed mediator. Costs shall be shared equally.
16.2 Shortened Limitations Period
To the fullest extent permitted by Texas law, any legal action arising out of this engagement (except collection of unpaid fees) must be commenced within two (2) years from the date of completion of this engagement. Any claims not brought within this period are irrevocably barred.
16.3 Governing Law and Jurisdiction
This agreement shall be governed by the laws of the State of Texas, without regard to conflict of law principles. The state and federal courts located in Collin County, Texas, shall have exclusive jurisdiction over any disputes, and you hereby consent to the personal jurisdiction of such courts.
Section 17General Provisions
Entire Agreement. These Terms, together with the Engagement Letter and Privacy Notice, constitute the entire agreement between us regarding the Services and supersede all prior agreements, representations, or understandings.
Amendments. These Terms may be amended by us at any time by posting updated Terms at this page. Your continued use of our Services after such posting constitutes acceptance of the amended Terms.
Severability. If any provision of these Terms is held invalid or unenforceable, the remaining provisions shall continue in full force. The invalid provision shall be modified to the minimum extent necessary to make it valid while preserving its intent.
Assignment. You may not assign this agreement without our written consent. We may assign this agreement to any successor entity or affiliate without your consent.
Waiver. No waiver of any breach or default shall be deemed a waiver of any subsequent breach or default. Any waiver must be in writing.
Electronic Signatures. Electronic signatures (including signatures via DocuSign, Adobe Sign, or similar platforms) shall have the same legal effect as original signatures.
Section 18Contact Information
Globance Tax Services | A Division of Globance Financial Group LLC | McKinney, Texas
Email: file@globancetax.com | Phone: (254) 975-6815 | Portal: client.globancetax.com