Certified Public Accountants (CPA’s), like all providers of personal financial services, are now required by law to inform their clients of their policies regarding privacy of client information. CPA’s have been and continue to be bound by professional standards of confidentiality that are even more stringent than those required by law. Therefore, we have always protected your right to privacy.
YOUR TAX INFORMATION IS CONFIDENTIAL
Tax returns and tax return information are confidential and may not be disclosed to federal or state agencies, or to federal or state employees, or to any third party, except as provided by law. Disclosure of tax return information to federal or state agencies or employees is governed by Internal Revenue Code Section 6103.
Confidential tax return information includes the following elements: the taxpayer’s identity, the nature, source or amount of income, payments, receipts, deductions, net worth, tax liability, deficiencies, closing agreements, and information regarding actual or possible investigation of a return.
TYPES OF NONPUBLIC PERSONAL INFORMATION WE COLLECT
We collect nonpublic personal information about you that is either provided to us by you or obtained by us with your authorization.
PARTIES TO WHOM WE DISCLOSE INFORMATION
For current and former clients, we do not disclose any nonpublic personal information obtained in the course of our practice except as required or permitted by law. Permitted disclosures include, for instance, providing information to our employees. In all such situations, we stress the confidential nature of information being shared.
PROTECTING THE CONFIDENTIALITY AND SECURITY OF CURRENT AND FORMER CLIENTS’ INFORMATION
We do not share any of your confidential information with any third-party. A third-party is any person or company other than you, the client. That means we cannot disclose your identity, income, net worth, tax liabilities, or other protected information to the Internal Revenue Service, state tax authorities, unmarried partners, friends, relatives, real estate agents, mortgage brokers, banks, or any other person or company without your explicit authorization.
FILE RETENTION/DESTRUCTION POLICY
We retain records relating to professional services that we provide so that we are better able to assist you with your professional needs and to comply with federal and state laws regarding retaining tax returns. In order to guard your nonpublic personal information, we maintain physical, electronic, and procedural safeguards that comply with our professional standards.
In accordance with our Firm’s current document retention policy, we will retain copies of the records you have supplied us along with our work papers for your engagement for a period of 6 years. All of your original records will be returned to you. After 7 years, our work papers and files will no longer be available. Physical deterioration or catastrophic events may shorten the time during which our records will be available.
Thank you for allowing us to serve your accounting, tax, and financial planning needs. We value your business and are committed to protecting your privacy. We hope you view our firm as your most trusted advisor and we will work to continue earning your trust.
Please call if you have any questions, because your privacy, our professional ethics, and the ability to provide you with quality financial services are very important to us.
Schuman Simon & Grodecki, Ltd.