Tax Management/Monitoring Agreement A Tax Management/Monitoring Agreement outlines the terms for managing and monitoring tax matters, often used by businesses to ensure compliance and optimize tax strategies.
1.1. Tax Management and Monitoring Services
Service Provider agrees to provide tax management and monitoring services to Client (the "Services") in accordance with the terms and conditions of this Agreement. The scope of Services includes, but is not limited to: tax planning, tax compliance, tax minimization strategies, and ongoing monitoring of the Client's tax matters. Service Provider will perform the Services in a diligent, professional, and timely manner, in compliance with all applicable laws and regulations, including those of the United States.
2.1. Periodic Reports
Throughout the term of this Agreement, Service Provider shall provide Client with periodic reports, no less frequently than quarterly, detailing the Services performed, tax liabilities or savings, and any recommendations for improvements in the Client's tax management practices. These reports will be delivered in a format mutually agreed upon by the parties, and will include all relevant documentation and supporting materials. Service Provider will maintain accurate and complete records of all Services rendered.
2.2. Annual Tax Reporting
Service Provider will prepare and timely file all federal, state, and local tax returns on behalf of Client, as required by law, for each calendar year during the term of this Agreement. Service Provider will provide these completed tax returns to Client for review and approval at least thirty (30) days before the filing deadline, along with a detailed explanation of all positions taken on the returns and any available tax minimization strategies.
2.3. Communication and Consultation
Service Provider will maintain an open and collaborative communication with Client throughout the term of this Agreement, ensuring that Client remains informed of any significant tax issues, changes in tax laws or regulations, or potential tax liabilities. In addition, Service Provider will be available to consult with Client on any tax matters or questions that Client may have during the term of this Agreement.
3.1. Fee Structure
In consideration of the Services provided by Service Provider under this Agreement, Client shall pay Service Provider fees in accordance with the fee structure agreed upon by the parties, as set forth in Exhibit A attached hereto and incorporated herein by reference. Such fees may include, without limitation, hourly rates, fixed fees for specific services, or a retainer for ongoing Services.
3.2. Invoices
Service Provider shall provide Client with written invoices, setting forth in reasonable detail the Services provided, the fees associated therewith, and any expenses incurred. Invoices shall be submitted to Client on a monthly basis or as otherwise agreed upon by the parties. Client shall pay all undisputed invoiced amounts within thirty (30) days of receipt of each invoice.
4.1. Term
This Agreement shall commence on the Effective Date and continue for an initial term of one (1) year, unless earlier terminated in accordance with the provisions of this Agreement. This Agreement may be renewed for successive one (1) year terms upon mutual written agreement of the parties.
4.2. Termination for Convenience
Either party may terminate this Agreement, without cause, upon sixty (60) days written notice to the other party.
4.3. Termination for Cause
Either party may terminate this Agreement immediately for cause if the other party breaches any material term or condition of this Agreement and fails to cure such breach within thirty (30) days after written notice thereof.
5.1. Confidentiality Obligations
Service Provider shall maintain the confidentiality of all information provided by Client in connection with the Services and shall not disclose such information to any third party without the prior written consent of Client, except as required by law or court order. Upon termination of this Agreement, Service Provider shall, upon Client's request, return or destroy all confidential information and any copies thereof in its possession or control.
6.1. Indemnification Obligations
Service Provider shall indemnify, defend, and hold harmless Client, its officers, directors, employees, and agents, from and against any and all claims, liabilities, damages, losses, or expenses (including reasonable attorneys' fees and costs) arising out of or in connection with Service Provider's negligence, willful misconduct, or breach of this Agreement.
7.1. Choice of Law
This Agreement shall be governed by and construed in accordance with the laws of the United States and the State of _____________________, without regard to any conflicts of laws principles.
8.1. Entire Agreement
This Agreement, including any exhibits attached hereto, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations, and understandings, whether written or oral.
8.2. Severability
If any provision of this Agreement is held invalid or unenforceable, the remainder of this Agreement will remain in full force and effect, and the invalid or unenforceable provision will be replaced by a valid and enforceable provision that achieves the original intent of the parties.
In this Tax Management/Monitoring Agreement, you will see the following sections:
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