Tax Season Countdown: 27% S-T-R-E-S-S-E-D - O-U-T!!!

Through April 1, 27% of more than 800 tax professionals are saying they are experiencing at least “frequent” stress or are “TOTALLY CRAZED!”

Tax Season Stress
(Thru April 1, 2007)

Believe it or not, this year’s stress levels are running a little better than last year’s stress levels.

Meanwhile, in other readings:– 31% are reporting business is BETTER THANK LAST YEAR,
– 31% are reporting it’s ABOUT THE SAME, and
– 38% are reporting it’s WORSE.

– Overall revenue, profits and number of clients are up.
– But on a per client basis, revenue-per-client and profit-per-client are lagging, suggesting some margin pressures this year.

– Top problems are: staff shortage (43%), late/unprepared clients (40%) and tech or software issues (33%)

What’s causing stress? The latest comments:
– Getting the tax returns done in a short time
– Several deadlines at once, combined with a visiting German exchange student.
– too much work and crazy people
– Tax season & new audit standards
– too much work
– Time is running out and new clients are more complicated
– Upper Level Management
– Work, Family
– Can’t get the work completed. Either not enough time or missing info.

What will you do differently next year? The latest comments:
– Contact clients earlier to try to get info in earlier.
– pre-budget returns and pre-prepare so that it takes less time during the season for me to prepare.
– be more organized earlier
– Spread work differently among managers & in-charges.
Redefine scope & expectations with clients
– work smarter
– Pray
– Due to decrease of experienced staff, and increase in new staff, stress to upper management that the turnaround will be slower
– Yes, Hire more qualified staff.

Posted at March 31, 2007
Filed Under BSG [CPA TRENDLINES] |

Comments

Leave a Reply