Privacy Policy
EIDUK TAX & WEALTH
Introduction
Eiduk Tax & Wealth ("we," "us," or "our") is committed to protecting the privacy and confidentiality of our clients' personal and financial information. This Client Privacy Policy describes how we collect, use, maintain, protect, and disclose information obtained from our clients in connection with the tax preparation, tax planning, and wealth advisory services we provide.
We are bound by professional standards and legal requirements, including Internal Revenue Code Section 7216 and Treasury Regulation Section 301.7216, which govern the disclosure and use of tax return information by tax return preparers.
Information We Collect
In the course of providing our services, we may collect and maintain the following types of information:
Personal Identification Information
This includes your name, address, telephone number, email address, date of birth, Social Security number or taxpayer identification number, driver's license or state ID number, and similar identifying information for you and your dependents.
Financial Information
This includes income information (W-2s, 1099s, K-1s, etc.), bank and investment account statements, retirement account information, business financial records, real estate and property information, expense records and receipts, prior year tax returns, and other financial documents necessary to prepare your tax returns or provide advisory services.
Business Information
For business clients, this may include entity formation documents, employer identification numbers (EIN), payroll records, business financial statements, corporate minutes and resolutions, ownership and shareholder information, and other business records.
How We Use Your Information
We use the information we collect for the following purposes: to prepare and file your federal, state, and local tax returns; to provide tax planning and advisory services; to provide wealth management and financial planning guidance; to respond to inquiries from tax authorities on your behalf; to communicate with you about your account and our services; to send appointment reminders, scheduling confirmations, tax deadline notifications, and service updates via SMS and email when you have opted in; to comply with legal and regulatory requirements; and to maintain internal records and improve our services.
Disclosure of Your Information
We do not sell, trade, or rent your personal or financial information to third parties. The phone numbers and SMS consent obtained through our opt-in process will not be shared with third parties or affiliates for marketing purposes. We may disclose your information only in the following circumstances:
With Your Consent
We may disclose your tax return information to third parties when you have provided written consent authorizing such disclosure. This may include sharing information with your attorney, financial advisor, mortgage lender, or other parties you designate.
To Government Authorities
We file tax returns and other required documents with the Internal Revenue Service, state tax agencies, and local taxing authorities as necessary to fulfill our engagement. We may also respond to lawful requests from government agencies, court orders, or subpoenas.
To Service Providers
We may share your information with third-party service providers who assist us in delivering our services, such as tax preparation software providers, secure document storage providers, e-filing transmission services, and SMS/email messaging service providers. These providers are contractually obligated to maintain the confidentiality of your information and use it only for the purposes for which it was disclosed.
As Required by Law
We may disclose your information when required to do so by law, such as in response to a valid subpoena, court order, or government investigation, or to comply with professional licensing requirements.
Data Security
We take the security of your personal and financial information seriously and implement appropriate administrative, technical, and physical safeguards to protect against unauthorized access, use, alteration, or destruction. Our security measures include:
Secure, encrypted transmission of electronic data; password-protected systems and files; secure physical storage of paper documents; limited access to client information on a need-to-know basis; regular security training for staff members; secure disposal of documents containing sensitive information; and use of reputable, security-compliant software and service providers.
While we strive to protect your information, no method of transmission over the Internet or electronic storage is completely secure. We cannot guarantee absolute security but are committed to maintaining industry-standard protections.
Data Retention
We retain client records in accordance with professional standards, IRS requirements, and applicable state regulations. Generally, we retain copies of tax returns and supporting documentation for a minimum of seven (7) years from the date of filing, or longer if required by law or if the statute of limitations remains open. After the applicable retention period, records are securely destroyed.
You may request copies of your tax returns and supporting documents at any time during the retention period. Reasonable fees may apply for document retrieval and reproduction.
Your Rights
You have the following rights regarding your personal and financial information:
Access: You may request access to the information we maintain about you.
Correction: You may request that we correct any inaccurate or incomplete information.
Copies: You may request copies of your tax returns and related documents.
Consent Withdrawal: If you have previously provided consent for specific disclosures, you may withdraw that consent at any time by notifying us in writing. If you have opted in to receive SMS messages, you may withdraw consent at any time by replying STOP to any message or contacting our office.
Tax Return Information Confidentiality (IRC §7216)
Federal law (Internal Revenue Code Section 7216) requires tax return preparers to obtain your consent before using or disclosing your tax return information for purposes other than preparing your return. We will not use or disclose your tax return information for any purpose other than preparing and filing your tax returns unless we first obtain your written consent or the disclosure is otherwise permitted by law.
Violations of Section 7216 are subject to criminal penalties. We take this obligation seriously and maintain strict policies to ensure compliance.
Changes to This Policy
We reserve the right to update or modify this Client Privacy Policy at any time. Any changes will be effective upon posting the revised policy. We encourage you to review this policy periodically. Continued use of our services after any modifications indicates your acceptance of the updated policy.
Contact Information
If you have any questions about this Client Privacy Policy, wish to exercise any of your rights, or have concerns about how your information is being handled, please contact us at:
Eiduk Tax & Wealth
168 S. Benton St.
Palatine, IL 60067
(847) 874-5299
Acknowledgment
By engaging Eiduk Tax & Wealth for tax preparation, tax planning, or wealth advisory services, you acknowledge that you have read and understand this Client Privacy Policy and consent to the collection, use, and disclosure of your information as described herein.
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