Tax Pracs Race to the April 17 Finish Line

Through the last Sunday of Tax Season 2007, practitioners raced to the close.

Preliminary data from our suvey of more than 1,000 professionals yield these highlights…

Stress Levels,
cum. thru April 15 2007

Some 30% of tax practitioners reported high stress levels at some point during the tax season through April 15.

Worse vs. Better,
cum. thru April 15 2007

Overall, 39% reported a worse tax season that the year before, with 30% reporting improvements, and 31% unchanged.

Top Issues,
cum thru April 15 2007

Late and unprepared clients were the biggest problem, beating the staff shortage as a problem. Technology and software problems came in third.

What’s different about this tax season?
[Selected verbatim comments]
– tax system has more problems.
– I am retiring in June
– Illness & a minor car accident - rear-ended.
– Seasoned staff
– I added more staff this year and the new staff is very competent
– We are all healthier and better prepared
– Less experienced individuals
– Good team of people that work hard.
– spread out filings, better use of technology.
– no major differences. concerns are with current workload and with managing and staffing jobs properly.
– Sudden and unexpected passing of key person in firm.
– more organized
– Tax Law Changes
– We are better organized and slightly ahead of the corporate and partnership rush
– less stress due to decreased responsibility
– More Organized and ready for the season
– more responsibility
– we are ahead of an already exceptional prior year in terms of clients coming in, being prepared, and our turning around their returns.
– no significant differnec
– MORE INTERUPTIONS & SPECIAL REQUESTS
– Many more early filers.
– more last minute changes to audit
– nothing
– More Clients, New businesses
– Not much.
– lacerte has not finished the software yet.
– I have good medications.
– COMPLEX AUDIT REGULATIONS. NEW TAX RULES
– I feel further behind.
– our tax software isn[’t ready with state tax returns (Gosystem) and too many Form 1099’s are being extended so that we can’t complete tax returns.
– Clients not ready.
– Unreasonable workload and less staffing
– I have a bookkeeping client that I did not have last year.
– At least I have about five (5) clients for December 2006 whereas last year I had zero as It was the first year of my business
– More clients coming in earlier instead of waiting until the last minute.
– Had new systems last year - lot’s of setup
– two children instead of one
– Nothing is different
– My bosses moods are substantially more negative and they are less willing to “trust.” They are questioning everything. They also think there is still plenty of extra time in the schedule to pile on more work.
– last year my father & partner died, and I was on my own for busy season.
– December 20, 2006 major tax legislation!! The stupid telephone excise tax refund!! How do you get all that detail from clients LAST MINUTE!! Needed more bodies -I interviewed the only 2 responses I had to the ICPAS ad and they both did not fit the CPA profile I needed…they both had let their license lapse!! How can THAT be??
– More work, less staff.
– more responsibility
– Hired a new (very old) employee, she worked for me 20 yrs ago, then moved to Florida, She has moved back.
– Firm going paperless for individual taxes
– More staff, still too much work. Clients expect faster service.
– It’s only beginning
– sex
– New tax software
– more experience

Posted at April 21, 2007
Filed Under BSG [CPA TRENDLINES] |

Comments

2 Responses to “Tax Pracs Race to the April 17 Finish Line”

  1. EA in Nevada on April 15th, 2007 9:21 am

    Anyone who didn’t make more this year than last year shouldn’t be in the business. It was an incredibly good year fore everyone I know.

    EA in Nevada

  2. C Glenn on April 24th, 2007 3:35 am

    THE US MUST GO TO A FAIR TAX SYSTEM AND END PAYROLL AND INCOME TAXES FOREVER.

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