Thank you for your interest in Olma Tax!
In the past year, we have witnessed the biggest tax system overhaul in 30 years! The increased complexity and ambiguity of the enacted tax provisions affect virtually all taxpayers. Our firm has spent an immense amount of time and resources staying on top of the massive volume of new laws and forms.
While the Federal rules have changed for personal and business returns, many states (such as California) do not follow the new rules. This means that we have to account for old and new rules when preparing your returns. The IRS has also shifted much of its responsibilities to tax practitioners and mandated numerous additional due diligence and disclosure requirements.
Among the most affected taxpayers are business owners, landlords, heads of household, mortgage payors, and cryptocurrency holders. We are predicting a much higher number of taxpayers going on extension while we are awaiting clarity from the government on many unfinalized provisions.
So please be patient as we ask you to fill out additional worksheets that were not present in the past. Education about the changes and how they will affect you will be our top priority to communicate!
Your Tax Preparation Process… 4 easy Steps
STEP 1. Complete a short Tax Organizer. To ensure accuracy and protect clients from penalties, we require all clients to fill out the organizer electronically or by paper. Completing the tax organizer gives us a comprehensive overview of the additional information and documents needed for your tax return preparation and gives you a forum to ask questions/receive feedback on areas you may have doubts… So please complete as many pertinent fields as possible.
STEP 2. Securely upload your 2019 tax forms AND 2017-2018 tax returns to ShareFile portal. If you become our client you will be granted a 24/7/365 access to your uploaded information and tax returns.
STEP 3. Within 2 business days, we will contact you with a quote for tax preparation. Our quote will be good for 72 hours. To accept, please sign the 2019 Individual Tax Preparation Engagement Letter. This letter outlines what you can expect from us as well as what we need from you to provide you with excellent service and accurate results. It also covers our policies, procedures, and services. Inside the Engagement Letter, you will be asked to select your Tax Package and sign an ACH authorization.
STEP 4. Read and acknowledge receipt of the 2020 Client Guide. Please take our guidelines to heart to make our relationship as smooth as possible this year. We encourage you to download it and keep it handy throughout the year.
If you prefer to drop off your paper file, please bring the file and the completed Tax Organizer to your pre-scheduled appointment. We’ll be able to give you a quote as we review the file.
If our quote expires unaccepted and you return to us at a later time, given the increasing volume of tax work as we get closer to the March & April deadlines, we cannot guarantee our availability or same pricing.
We stop accepting new files for individual tax preparation on March 20. We will not begin processing returns until we receive all the documents.
Of course, please ask questions if you need more clarity or have any difficulties.