Annual Tax Compliance Kit

Annual Tax Compliance Kit


Annual Compliance KitOur 2016 Annual Compliance Kit is a comprehensive package of resources to help practitioners comply with tax laws and effectively serve their clients. We have checklists, organizers, and engagement letters for individuals, partnerships, corporations, estates, trusts, gifts, and exempt organizations. Additionally, we offer valuable practice guides that cover nexus, unique state and local tax considerations, and the business use of vehicles. 

These resources are available exclusively to AICPA Tax Section members. Join the Tax Section today.

For your convenience, download the entire Annual Compliance Kit in a zip file.


Purpose:
An engagement letter is the contract between a client and a professional that defines the scope of work (e.g., returns to be prepared) and the responsibilities and obligations of each of the respective parties; many tax return engagement letters include fee estimates and language regarding the ability to use and/or disclose tax information.

The below sample client templates  are necessarily broad; each engagement requires careful consideration in order to address its particular circumstances. We've provided Word files so that you can customize your letters to account for these specifics.

These sample engagement letters have been developed and provided by CNA, the endorsed underwriter of the AICPA Professional Liability Insurance Program. CNA has redacted some paragraphs that are related to special-use cases. CNA policyholders can access these paragraphs in addition to a sample terms and conditions document, but we encourage you to review your letters for completeness and accuracy by your firm's professional liability insurance carrier and legal counsel.

Note: If you would like to obtain an updated version of our prior engagement letter format, please contact TaxSection@aicpa.org.


 Name  IRS Form Download
Audit Representation Engagement Letter All
 MS Document
Word 
C Corporation Engagement Letter Form 1120
Estate and Inheritance Engagement Letter

 Form 706 and 8971

MS Document
Word
Estate and Trust Engagement Letter  Form 1041
MS Document
Gift Tax Engagement Letter  Form 709
MS Document
Word

Individual Income Engagement Letter Form 1040
MS Document
Word
Nonprofit Engagement Letter Form 990
MS Document
Word
Partnership Engagement Letter Form 1065
MS Document
Word
Private Foundation Engagement Letter Form 990PF
MS Document
Word

Report of Foreign Bank and Financial Accounts (FBAR) Engagement Letter FinCEN Report 114 
MS Document
Word

S Corporation Engagement Letter Form 1120S
MS Document
Word
Tax Consulting Engagement Letter All 
MS Document
Word

Tax Projections Engagement Letter

 All

MS Document
Word

Terms and Notice for Readers

Access to the Annual Compliance Kit is intended as an individual benefit of Tax Section membership. The Annual Compliance Kit is created by and copyrighted to the American Institute of Certified Public Accountants (AICPA), which reserves all rights. Except in the context of performing client services, reproduction, redistribution, republication, or resale of this product by the member granted access is prohibited. Should AICPA omit or decline to enforce any aspect of these Terms of Use at any given time or instance, such non-enforcement does not constitute and should not be construed as a waiver of AICPA’s rights as to any other or future instance. For more information about the terms of use for Annual Compliance Kit, or to request permission for a use which exceeds these limitations, please contact Licensing, Rights & Information Services at copyright@aicpa.org.

The Annual Compliance Kit resources are designed as educational and reference material for the members of the Tax Section. They do not establish standards or preferred practices. Although much thought and effort have gone into the development of these guides, they are subject to change. These practice guides are issued as drafts only, and you retain responsibility for their final content. Please review them carefully and make any changes necessary for your specific use.


 This symbol identifies tools and resources available exclusively for Tax Section members. When accessing premium member-only content within the Tax Resource Library, you will be prompted to enter your user ID and password to validate your Tax Section membership.


Purpose:
A tax organizer is a client-facing document meant to assist in the collection and submission of client information necessary to prepare a tax return.

The below templates  are provided in fillable PDF. If you would like a Word version, a zip file is available for download.


 Name

 IRS Form

Download

Corporation Tax Return Organizer  Form 1120, 1120S
Estate Tax Return Organizer Form 706
Estate and Trust Tax Return Organizer Form 1041
Exempt Organization Tax Return Organizer  Form 990


PDF

Gift Tax Return Organizer   Form 709
Individual Income Tax Return Organizer Form 1040


PDF

Partnership Tax Return Organizer Form 1065
Employee Benefit Plan Organizer Form 5500

Terms and Notice for Readers

Access to the Annual Compliance Kit is intended as an individual benefit of Tax Section membership. The Annual Compliance Kit is created by and copyrighted to the American Institute of Certified Public Accountants (AICPA), which reserves all rights. Except in the context of performing client services, reproduction, redistribution, republication, or resale of this product by the member granted access is prohibited. Should AICPA omit or decline to enforce any aspect of these Terms of Use at any given time or instance, such non-enforcement does not constitute and should not be construed as a waiver of AICPA’s rights as to any other or future instance. For more information about the terms of use for Annual Compliance Kit, or to request permission for a use which exceeds these limitations, please contact Licensing, Rights & Information Services at copyright@aicpa.org.

The Annual Compliance Kit resources are designed as educational and reference material for the members of the Tax Section. They do not establish standards or preferred practices. Although much thought and effort have gone into the development of these guides, they are subject to change. These practice guides are issued as drafts only, and you retain responsibility for their final content. Please review them carefully and make any changes necessary for your specific use.


 This symbol identifies tools and resources available exclusively for Tax Section members. When accessing premium member-only content within the Tax Resource Library, you will be prompted to enter your user ID and password to validate your Tax Section membership.


Purpose: These checklists are used to address issues related to a specific tax form, and are used by tax preparers and reviewers to ensure compliance with reporting and documentation, as well as to identify planning opportunities and potential exam or audit risks on a tax return.

The below checklists  are provided in fillable PDF. If you would like a Word version, a zip file is available for download.



 Name  IRS Form Download
C Corporation Income Tax Return Checklist (Long)  Form 1120
C Corporation Income Tax Return Checklist (Mini) Form 1120
PDF
C Corporation Income Tax Return Checklist (Short) Form 1120
Employee Benefit Plan Checklist  Form 5500
 
PDF
Estate and Trust Income Tax Return Checklist (Long) Form 1041
Estate and Trust Income Tax Return Checklist (Mini) Form 1041
PDF
Estate and Trust Income Tax Return Checklist (Short) Form 1041
PDF
Individual Income Tax Return Checklist (Long)  Form 1040
Individual Income Tax Return Checklist (Mini) Form 1040
 
PDF
Individual Income Tax Return Checklist (Short)  Form 1040
PDF
Nexus Checklist  All
PDF
Partnership Income Tax Return Checklist (Long)  Form 1065
Partnership Income Tax Return Checklist (Mini) Form 1065
 
PDF
Partnership Income Tax Return Checklist (Short) Form 1065
PDF 
Return of Private Foundation Checklist Form 990PF 
PDF
Exempt Organization Income Tax Checklist Form 990
Exempt Organization Business Income Tax Checklist Form 990T 


PDF

Organization Exempt from Income Tax Checklist   Form 990EZ
S Corporation Income Tax Return Checklist (Long)  Form 1120S
PDF
S Corporation Income Tax Return Checklist (Mini)  Form 1120S
S Corporation Income Tax Return Checklist (Short) Form 1120S
 
PDF
U.S. Estate (and GST) Tax Return Checklist Form 706 
U.S. Gift Tax Return Checklist Form 709

Terms and Notice for Readers

Access to the Annual Compliance Kit is intended as an individual benefit of Tax Section membership. The Annual Compliance Kit is created by and copyrighted to the American Institute of Certified Public Accountants (AICPA), which reserves all rights. Except in the context of performing client services, reproduction, redistribution, republication, or resale of this product by the member granted access is prohibited. Should AICPA omit or decline to enforce any aspect of these Terms of Use at any given time or instance, such non-enforcement does not constitute and should not be construed as a waiver of AICPA’s rights as to any other or future instance. For more information about the terms of use for Annual Compliance Kit, or to request permission for a use which exceeds these limitations, please contact Licensing, Rights & Information Services at copyright@aicpa.org.

The Annual Compliance Kit resources are designed as educational and reference material for the members of the Tax Section. They do not establish standards or preferred practices. Although much thought and effort have gone into the development of these guides, they are subject to change. These practice guides are issued as drafts only, and you retain responsibility for their final content. Please review them carefully and make any changes necessary for your specific use.


 This symbol identifies tools and resources available exclusively for Tax Section members. When accessing premium member-only content within the Tax Resource Library, you will be prompted to enter your user ID and password to validate your Tax Section membership.

Purpose:
Our practice guides  are comprehensive publications on a specific topic or process that includes relevant guidance, recent developments and trends, best practices, and recommendations for workflow and documentation.



 Name Download
State Tax Nexus Guide

PDF
Unique State Income Tax Return Considerations - Businesses

PDF
Unique State Income Tax Return Considerations - Individuals

PDF
Vehicle Policy and Income Inclusion Guide
 
PDF

Terms and Notice for Readers

Access to the Annual Compliance Kit is intended as an individual benefit of Tax Section membership. The Annual Compliance Kit is created by and copyrighted to the American Institute of Certified Public Accountants (AICPA), which reserves all rights. Except in the context of performing client services, reproduction, redistribution, republication, or resale of this product by the member granted access is prohibited. Should AICPA omit or decline to enforce any aspect of these Terms of Use at any given time or instance, such non-enforcement does not constitute and should not be construed as a waiver of AICPA’s rights as to any other or future instance. For more information about the terms of use for Annual Compliance Kit, or to request permission for a use which exceeds these limitations, please contact Licensing, Rights & Information Services at copyright@aicpa.org.

The Annual Compliance Kit resources are designed as educational and reference material for the members of the Tax Section. They do not establish standards or preferred practices. Although much thought and effort have gone into the development of these guides, they are subject to change. These practice guides are issued as drafts only, and you retain responsibility for their final content. Please review them carefully and make any changes necessary for your specific use.


 This symbol identifies tools and resources available exclusively for Tax Section members. When accessing premium member-only content within the Tax Resource Library, you will be prompted to enter your user ID and password to validate your Tax Section membership.
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