1040TaxBiz Start-Up Advance Agreement 

 

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Start-Up Advance Agreement

LOAN AMOUNT: $2,000.00

 

This START-UP ADVANCE AGREEMENT (this "Agreement") is entered into as of (the "Effective Date") by and between Lee’s Tax City, LLC, d/b/a 1040 TaxBiz ("1040 TAXBIZ"), and the electronic filing identification number owner and electronic return originator (hereafter referred to as the “ERO”). Each may be referred to as a “Party” or collectively as the “Parties.”

WHEREAS, ERO requests to participate in the Start-Up Advance program (the “Program”) offered through 1040 TAXBIZ upon the terms and conditions set forth herein.

NOW, THEREFORE, for and in consideration of the mutual promises and covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

  1. Start-Up Advance.
    1. ERO hereby requests that 1040 TAXBIZ remit to ERO an advance payment of a portion of the Fees ERO anticipates earning over the specific tax season (a “Start-Up Advance”). ERO agrees that (i) 1040 TAXBIZ is authorized to conduct all due diligence 1040 TAXBIZ believes appropriate in consideration of ERO’s application and (ii) no representation is made by 1040 TAXBIZ that the application itself, or the requested dollar amount, will be approved.
    2. 1040 TAXBIZ shall be under no obligation to approve ERO’s request to participate in the Program or to obtain a Start-Up Advance.
    3. If ERO’s request for a Start-Up Advance is approved and if 1040 TAXBIZ makes such an advance to ERO, ERO agrees to fully reimburse 1040 TAXBIZ for any and all amounts advanced.
  2. Repayment of Start-Up Advance.
    1. ERO authorizes and agrees that 1040 TAXBIZ may deduct, offset or withhold from Fees otherwise payable to ERO under any ERO Agreement the amount of any Start-Up Advance. If the Fees otherwise due ERO are insufficient to repay the Start-Up Advance, ERO agrees to pay 1040 TAXBIZ directly for any such remaining balance owed immediately upon demand.
    2. If at any time 1040 TAXBIZ believes, in its sole and absolute discretion, that full repayment of the Start-Up Advance is at risk, or if ERO does not remit such payment as of February 28, 2025 directly to 1040 TAXBIZ pursuant to Section 2(1) above, ERO hereby authorizes 1040 TAXBIZ to initiate debit entries to the checking or savings account ERO provided to 1040 TAXBIZ within ERO’s registration documentation (or such other account identified by ERO), and to debit any unpaid balance of the Start-Up Advance and/or Advance Fees from such account.
    3. ERO further authorizes and agrees that 1040 TAXBIZ may (a) notify any software transmitter or other refund deduction bank or processor to the extent that ERO has failed to repay the full amount of the Start-Up Advance so that any fees due ERO by such other entities may be offset to repay the Start-Up Advance (or any portion thereof); and/or (b) offset amounts otherwise due ERO with any outstanding debt ERO may have with other refund deduction providers related to unpaid and outstanding ERO advances. In addition, ERO shall pay to 1040 TAXBIZ all reasonable costs associated with ERO’s failure to comply with its repayment obligations and the enforcement of 1040 TAXBIZ’s remedies, including but not limited to court costs and attorneys’ fees.
    4. This Section 2 shall survive termination of this Agreement.
  3. Status of the Parties.
    1. Any third parties used by ERO in the performance of its responsibilities under this Agreement are agents or contractual partners of ERO and not agents of 1040 TAXBIZ. ERO will be fully responsible for the acts, errors or omissions of any such third party with respect to its services and performance. ERO shall be responsible for all of its preparers, whether employees or independent contractors, and is responsible for all program-related activity originated by all preparers from ERO’s office, including the actions of any employees, tax preparers or other third parties. Furthermore, ERO shall be fully responsible for ensuring that such service or performance is in compliance with the terms of this Agreement and other program requirements.
    1. The term of this Agreement shall be through December 31, 2025, unless 1040 TAXBIZ otherwise terminates this Agreement pursuant to its terms.
    2. 1040 TAXBIZ may, without any liability to ERO, terminate this Agreement at any time and without notice to ERO.
    3. Amounts owed by ERO to 1040 TAXBIZ shall remain due and payable after termination of this Agreement.
    4. If 1040 TAXBIZ terminates this Agreement, ERO shall be responsible for, and shall in all cases indemnify and hold 1040 TAXBIZ harmless from any losses, expenses or costs (including attorneys’ fees) resulting from ERO’s failure to adhere to the terms of this Agreement.
    1. Each Party will bear all expenses connected with its performance of its obligations under this Agreement, and no Party will have the right to incur any expense or liability on behalf of any other party.

 

I hereby consent to and acknowledge the terms described above.  By endorsing this agreement, I comprehend that I am obliged to adhere to the terms and conditions outlined herein throughout the duration of the agreement period.

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Signature Certificate
Document name: Start-Up Advance Agreement
lock iconUnique Document ID: 4aee99a537d44c75e37a75ffdac927116f593c47
Timestamp Audit
October 24, 2024 4:56 pm ESTStart-Up Advance Agreement Uploaded by Brian Warden - brian@1040taxbiz.com IP 204.156.181.32
October 24, 2024 5:36 pm ESTBrian Warden - Brian@1040taxbiz.com added by Brian Warden - brian@1040taxbiz.com as a CC'd Recipient Ip: 204.156.181.63
October 24, 2024 5:51 pm ESTBrian Warden - Brian@1040taxbiz.com added by Brian Warden - brian@1040taxbiz.com as a CC'd Recipient Ip: 204.156.181.63
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