IRS Reporting & Tax Disclaimer

1. Milli Is a Tax Preparation Platform

Milli is a tax preparation platform. Milli is operated by an IRS-credentialed tax preparer, with IRS preparer credentials and IRS e-file credentials in place.

Milli Tax Vault, quarterly tax estimates, and the Tax Ready Score are available now as automation and calculation tools. Together with mileage logs, expense categorization, and tax summaries, they help you set money aside, organize records, and plan, based on the information you and your connected accounts provide.

Milli is not a CPA firm, law firm, or enrolled agent practice. Milli AI is not a licensed CPA, attorney, or enrolled agent, and Milli AI guidance is informational.

2. You Are Responsible for Your Taxes

You are solely responsible for the accuracy, completeness, and timeliness of your tax returns and estimated tax payments, for reviewing all information before it is filed or paid, and for any taxes, penalties, or interest owed. Estimates may differ from your actual liability. Amounts reserved in Milli Tax Vault may not be sufficient to cover your obligations.

3. Mileage and Deductions

Mileage deductions shown in Milli are calculated using the IRS standard mileage rate in effect for the applicable year. You are responsible for ensuring trips are business-related and adequately substantiated under IRS rules, including Internal Revenue Code section 274(d).

4. Tax Filing Feature: Regulatory Status

Automatic annual tax filing, including electronic filing of tax returns through Milli, is available for Elite plan members. Milli's operator holds IRS preparer and e-file credentials; Electronic filing is available through Milli. Review and approve your return before it is electronically filed. These credentials are not an IRS endorsement of Milli. Tax Vault, quarterly estimates, and the Tax Ready Score are available now as automation and calculation tools.

Milli is operated by an IRS-credentialed tax preparer, with IRS preparer credentials and IRS e-file credentials in place.

You will review and approve your return before it is electronically filed, and you will be asked to sign the IRS authorizations described below. Where the Elite plan includes payment of quarterly estimated taxes through money movement features, payments are made from your funds, on your authorization, through licensed partner institutions; Milli does not pay your taxes with its own funds.

5. IRS Third-Party Authorization Notice

Milli will not communicate with the IRS or any state tax agency on your behalf unless you expressly authorize it. Depending on the tax filing service, you may be asked to sign: - IRS Form 8879, IRS e-file Signature Authorization, to authorize electronic filing of your return; - IRS Form 8821, Tax Information Authorization, to allow a designated party to receive your tax information; or - IRS Form 2848, Power of Attorney and Declaration of Representative, if representation by a licensed professional is required.

You may revoke any authorization at any time as provided in the IRS instructions for that form. Milli never asks for your IRS online account password.

6. Information Returns

Milli does not issue Forms 1099 for your independent work income; those are issued by the platforms and payers you work with. Where a Milli partner is required to issue an information return (for example, Form 1099-INT for interest earned), it will be delivered electronically under our E-SIGN Consent.

7. Confidentiality of Tax Return Information

As a tax return preparer, Milli uses and discloses tax return information only as permitted by Internal Revenue Code section 7216 and Treasury Regulations section 301.7216. Milli will not use your tax return information for any purpose other than preparing and filing your return, or disclose it to anyone, without your separate, written consent where the law requires it. Tax return information is protected under the FTC Safeguards Rule, as described in our Data Security Policy.

8. Circular 230 Notice

Nothing in Milli's content is intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.

9. Get Professional Advice

For advice specific to your situation, consult a CPA, enrolled agent, or tax attorney.