Questions and Answers - 8.3.16~1.pdf
PDF 139 KB Posted
- Attached to
- EETF Tax Prep RFQ 2016
- Solicitation number
- BD-17-1108-TREAN-ANF00-00000009140
- Issued by
- Suffolk County, Massachusetts
About this file
This document contains Questions and Answers related to an RFQ (Request for Qualifications) issued by the Office of the Treasurer and Receiver General of the Commonwealth of Massachusetts for Economic Empowerment Trust Form 990 and Form PC Tax Preparation Services. The RFQ is titled "EETF Tax Prep RFQ 2016" with the file number EETF Tax Prep RFQ 2016. The primary contact for this RFQ is Jameel Moore. The RFQ was posted on the COMMBUYS procurement platform. The key details include the Commonwealth's expectation that the tax preparation services will become more complex as the Economic Empowerment Trust Fund (EETF) grows and receives more donations, requiring the need for outside tax professionals. The Commonwealth has not used a tax preparer in previous years, as the tax preparation was completed in-house. For this tax year, the EETF's revenue is in excess of $100,000, which is a significant increase from the previous three fiscal years where the total revenue and net assets were less than $50,000 per year.
Regarding pricing, the Commonwealth has established a tentative budget for these services but has not set a firm budget. The previous year's fees for tax preparation services are not available, as the Commonwealth did not use an outside tax preparer in the past. There have been no significant changes in the EETF's finance department from the previous year, and the Commonwealth does not anticipate any significant changes in the next 5 years, other than the increased revenue and complexity of the tax preparation services.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| ATTACHMENT B - Cost Response EETF Tax Preparation Services RFQ 2016.docx | DOCX document | |
| ATTACHMENT A - Bidder Response Qs EETF Tax Preparation Services RFQ 2016.docx | DOCX document | |
| ATTACHMENT C - Mandatory Forms EETFTax Preparation Services RFQ 2016.doc | DOC document | |
| EETF Tax Prep RFQ.docx | DOCX document |
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Text version
Questions and Answers –
August 3, 2016
Office of the Treasurer and Receiver General
Address: One Ashburton Place, 12th Floor, Boston, Massachusetts 02108
Telephone #: (617) 367-3900, ext. 307
Internet Address: https://www.commbuys.com;
http://www.mass.gov/treasury/about/procurements
RFQ File Name/Title: Economic Empowerment Trust Form 990 and Form PC Tax
Preparation Services RFQ 2016
RFQ File Number: EETF Tax Prep RFQ 2016
RFQ Contact Person: Jameel Moore – procurements@tre.state.ma.us
Question 1: Why are you considering changing providers?
Answer: As the EETF grows and receives donations from various organizations, we expect the tax preparation to become more complex, requiring the need for outside tax professionals.
Question 2: What is the budget for the specified services?
Answer: A tentative budget has been established for these services, but no firm budget has been set.
Question 3: What were the total fees charged for the tax preparation services last year?
Answer: We did not use a tax preparer in previous years, as the tax preparation was completed in-house.
Question 4: Were there other services performed? What were they and what were the approximate fees?
Answer: Does not apply
Question 5: Are there any significant changes in your finances this year from last?
Answer: The EETF's total revenue and net assets for each of the past three fiscal year tax filings was less than $50,000.00 per year. For this tax year, the revenue is in excess of $100,000.
https://www.commbuys.com/ mailto:procurements@tre.state.ma.us
Question 6: Are there any significant changes in your finance department this year from last?
Answer: No, there have been no significant changes in the finance department from this year to last.
Question 7: Are any significant changes in either of these expected at this time for the next 5 years?
Answer: The financial information was recorded and maintained in QuickBooks, with the cash being held in a segregated bank account. In January 2016, the bank account was closed, the cash transferred to the Commonwealth’s main bank account and recorded in the Commonwealth’s financial reporting system
(MMARS).
File details come from the government source that posted it. Updated .