SURVEY RESULTS: Tax Season Workflow Trends Show Improvement

Most tax professionals are having at least as good or better season this year. But the economy threatens fees and collections.

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The latest data show for the week ended March 15, 34% of practitioners report the season is running “better” than last year’s season, up from 25% in the previous week, ended March 8.

Meanwhile, the number reporting “worse” conditions dropped to 21% from 27%. And the “about the same” has remained, well, about  the same.

(Week ended March 15 2009)

Economic problems seem to be characterizing Tax Season 2009, with about 73% of accountants now calling it a real challenge, compared to about 62% a month ago.

Clearly, accountants are more worried about matching last year’s revenues and profits — and, to an extent, to getting paid at all.

And that’s borne out in the comments. A sampling:

What’s different about this year?
(sample verbatim)

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[Research by Bay Street Group LLC. Data Copyright AICPA 2009.]

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Posted at March 15, 2009
Filed Under BSG [CPA TRENDLINES] | 3 Comments

Comments

3 Responses to “SURVEY RESULTS: Tax Season Workflow Trends Show Improvement”

  1. Lee Knoll on March 15th, 2009 8:53 pm

    Way behind last year as far as getting returns out door. Many new clients this year.

  2. Sherry J Crabtree on March 16th, 2009 9:43 am

    Clients are more apprehensive, but info is coming in quicker, as they hope for refunds coming quicker. We too are losing smaller returns to free or on-line prep. We are holding fees to no more than previous on long-time clients. Over all, we are ahead of last year, at least due to timing; it remains to be seen how it works out by April 15th.

  3. John K Howard CPA on March 16th, 2009 10:05 am

    After seeing some of the comments above, you need something positive. I am experiencing a surge in new clients seeking higher end tax help. Some clients who previously did their own returns now feel that their situation has become too complex; subject to AMT or have some complex transaction or event affecting their returns. I am on my way to having my best year ever.

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