Audit Shield®
- FAQ
 What is Audit Shield®?
Audit Shield is an extended warranty program for tax returns. The program protects against software miscalculations and certain preparer errors, by providing reimbursement of up to a total of $2,500 for any penalties, interest or additional taxes assessed by the IRS on your qualifying federal tax return. Please note that Audit Shield reimburses the taxpayer and does not pay the IRS directly.
How much does it cost?
The one-time Audit Shield fee of $24.95 protects a qualifying federal return for up to three years.
What returns qualify for Audit Shield protection?
Most individual federal income tax returns qualify as long as they are filed electronically. Returns that contain Schedules C, E or F do not qualify for Audit Shield.
Can Audit Shield be offered everywhere?
No. Because of varying state regulations, Audit Shield may not be offered in the following states or locations: Alaska, Arkansas, Connecticut, Idaho, Maine, New Hampshire, North Dakota, Puerto Rico, Rhode Island and Tennessee.
How do I know whether a return qualifies?
That's easy. Simply check off the Audit Shield box on the bank product application form. When you complete the return, TaxWise® will determine whether that return qualifies for Audit Shield.
What does a taxpayer have to do to make a claim?
The taxpayer must notify Audit Shield Management Services (ASMS) of any IRS correspondence or notice regarding your return within 30 days of the date of such notice, and they must provide ASMS with all pertinent forms and documents and a copy of the return within 45 days of the date of such IRS notice. After that, the taxpayer must simply cooperate with requests of ASMS, including requests for substantiation or support of the information in their return.
How should a taxpayer notify ASMS of a claim?
For questions about Audit Shield, or to report claims under the Audit Shield Program, taxpayers should write to Universal Tax Systems, Inc., Audit Shield Management Services Division, P.O. Box 2576, Rome, Georgia, 30164. Or they can call the Audit Shield hotline at 1-800-296-2621.
Should the taxpayer respond directly to the IRS?
Yes, unless ASMS expressly instructs otherwise, it is the taxpayer’s responsibility to answer all IRS inquiries or requests for additional information. The taxpayer is also responsible for making all payments to the IRS in a timely manner, even if ASMS has not finished processing the claim. Audit Shield does not cover any additional fees, penalties, or interests that result because the taxpayer did not respond to the IRS in the required time period.
If an Audit Shield warranty holder is audited, will an Audit Shield representative attend?
ASMS may decide, at its sole discretion, whether a tax professional should be present at the audit to assist in explaining how the return was calculated. The fees for such professional will be deducted from the taxpayer's $2,500 coverage amount. Such services are limited to no more than four hours at a rate of no more than $75 per hour.
Can Audit Shield coverage be voided?
Yes. The taxpayer will forfeit coverage of penalties, interest or additional taxes: (i) resulting from incorrect, incomplete or misleading information the taxpayer provides to the tax preparer; (ii) if the taxpayer can not provide sufficient records to support any item on the return; and/or (iii) if the taxpayer fails to make timely payment of all taxes shown to be due on the return.
Who can sell Audit Shield?
Any TaxWise user who signs up to offer bank products through HSBC, Santa Barbara Bank & Trust, or Republic Bank & Trust.
How much does the ERO earn per Audit Shield warranty sold?
The ERO will receive a $5.00 incentive for each Audit Shield warranty sold. See the Audit Shield certificate for complete terms and conditions.
Our postal address is:
Express Tax Lane Powered by Lopez
Tax Service®
1588 Moffett Street, Suite F
Salinas, CA 93905
Telephone: 1.831.422.4888
FAX: 1.831.422.4844
Email:
info@expresstaxlane.com
|
|
