Topic: tax season

Busy Season 2015: Headaches from Obamacare

‘ACA is PITA BS for CPAs.’ Next year’s plan: ‘Become a monk.’ Next question: The smartest moves this busy season? Join the survey; get the results By CPA Trendlines Research As Busy Season 2015 grinds down, tax prep professionals are grappling with myriad and continuing issues with new rules, thin staffing and difficult clients, according to the CPA Trendlines annual Busy Season Barometer. But the new Affordable Care Act seems to be causing the most widespread aches and pains among accountants.

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CPA Trendlines Subscribers Sound Off About 2015 Self-Filers

Some predict those clients will be coming back for cleanup. Tax professionals are sounding off in CPA Trendlines Comments on an apparent upsurge in do-it-yourself amateur self-filers while e-filing by professionals is lagging last year’s rates for four straights weeks so far. “Interesting that self-prepared is up and professionally prepared is down on a YTD basis,” says Bea Nahon, a Bellevue, Wash., CPA, and long-time advocate of women’s and small-firm interests. “Is that because business is shifting to the do-it-yourselfers?,” Nahon says. “I suspect instead it’s due to the professionals bogged down in the mire of the TPR regulations. And the increasing trend of fraudulent self-prepared returns,” “In fact,”Nahon adds alarmingly, “some of those self-prepared returns are likely going to turn […]

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Tax Pros Start to Make Up for Lost Ground in Pace of 2015 E-Filing

IRS processing nearly 98 percent of returns received. Tax professionals e-filed more than 38 million returns through March 13, lagging 3.4 percent from the same time in 2014. Yet, that’s an improvement from last week’s 4 percent deficit. RELATED: Have Fun This Tax Season! | Tax Preparation Fees: The National Averages [INFOGRAPHIC] | IRS Form 3115: a Sin and a Travesty | How to Get Paid Faster This Tax Season | Accountants See Solid Business Gains in 2015 | As Market Share Slips Away, Accountants Look Beyond the 1040 | IRS Emerges as Major Tax Season Competitor | Tax Pros Losing Market Share to Self-Filers Last week, CPA Trendlines reported that the industry’s 33.4 million e-filings accounted for 53.6 percent of all the […]

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Closed for Tax Season? Looks That Way

Automation can send the wrong message. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I have an automatic email response and some clients and contacts criticized me for it. I am overloaded during tax season and this takes some pressure off of me. Here is the automatic email response I am sending out: THANK YOU for your e-mail. Please accept my apology for this automated response. During tax season, most of my work days are scheduled with appointments and calls. I most always reply to emails and phone calls as soon as I can, usually the same day. Replies are slower during the months of February, March and April. Thank you for your patience. ANSWER: That’s terrible! MORE PRACTICE DOCTOR […]

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E-filing by Tax Pros Slows for Third Straight Week

After a fast start at the beginning of the season, the pace of e-filing by tax professionals continues to brake, compared with the same time last year. But the number of do-it-yourselfers is growing briskly. RELATED: Have Fun This Tax Season! | Tax Preparation Fees: The National Averages [INFOGRAPHIC] | IRS Form 3115: a Sin and a Travesty | How to Get Paid Faster This Tax Season | Accountants See Solid Business Gains in 2015 | As Market Share Slips Away, Accountants Look Beyond the 1040 | IRS Emerges as Major Tax Season Competitor | Tax Pros Losing Market Share to Self-Filers Tax professionals e-filed over 33.4 million returns through March 6, 2015, down 4 percent from the over 34.8 million […]

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E-filing by Tax Pros Slows

Refunds also are down. Tax professionals e-filed over 28.7 million returns through Feb. 27, 2015, down 4.4 percent from the nearly 30 million-plus returns e-filed by the same time in 2014. RELATED: Have Fun This Tax Season! | Tax Preparation Fees: The National Averages [INFOGRAPHIC] | IRS Form 3115: a Sin and a Travesty | How to Get Paid Faster This Tax Season | Accountants See Solid Business Gains in 2015 | As Market Share Slips Away, Accountants Look Beyond the 1040 | IRS Emerges as Major Tax Season Competitor | Tax Pros Losing Market Share to Self-Filers The IRS continues to process returns at a rate of just over 97.2 percent. Nearly 57 million individual income tax returns have […]

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Tax Pro E-filing Is Holding Steady

The IRS has processed more than 97 percent of returns received. Tax professionals e-filed over 23.7 million returns through Feb. 20, 2015, down 3.9 percent from the nearly 24.7 million returns e-filed by the same time in 2014. RELATED: Have Fun This Tax Season! | Tax Preparation Fees: The National Averages [INFOGRAPHIC] | IRS Form 3115: a Sin and a Travesty | How to Get Paid Faster This Tax Season | Accountants See Solid Business Gains in 2015 | As Market Share Slips Away, Accountants Look Beyond the 1040 | IRS Emerges as Major Tax Season Competitor | Tax Pros Losing Market Share to Self-Filers

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14 Timely Questions for Tax Season Clients

If you don’t ask, you can’t know. If not now, when? By Jean Marie Caragher The 90-Day Marketing Plan for CPA Firms Tax season is the perfect time to identify cross-selling opportunities, strengthen client relationships and ensure client satisfaction. Consider asking your clients the following 14 questions this tax season. You may discover a new gold nugget of opportunity:

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Tax Pro E-filing Levels Off from Initial Burst

Receipts, refunds still running higher than last year. Tax professionals e-filed about 18.47 million returns through Feb. 13, 2015, down 2.6 percent from the 18.95 million returns e-filed by the same time in 2014.

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11 Clear Client Instructions to Make Your Tax Season Easier

Help them help you. By Ed Mendlowitz Tax Season Opportunity Guide Providing instructions of what a client needs to do must be clear enough so that the client doesn’t call you to find out what to do. Sometimes taking an extra minute to lay out what the client should do can eliminate that call or indecisive moment a client might feel.

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3 Ways to Build a Tax Season Team

It’s a long season. Make it a happy one. By Ed Mendlowitz Tax Season Opportunity Guide If you have staff, have happy cheerful helpful people. Don’t surround yourself with downers and naysayers. Also have team players. Part of this is your firm’s culture. It takes work to get people to work together and to focus on doing what it takes to service the client fully, properly and timely.  Everyone working together gets it done.

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Tax Season Marketing: 3 Simple Ideas for 2015

To most of us, this is Busy Season. But to a marketer like Jean Marie Caragher, it’s Opportunity Season. Caragher, author of The 90-Day Marketing Plan for CPA Firms, here offers three simple and easy strategies for leveraging practice-building opportunities while also pushing out tax returns.

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Tax Pro E-filing Gets Off to Fast Start

39% year-over-year increase in first weeks. Next question: The accountants outlook for busy season 2015. Join the survey; get the answers. Tax professionals e-filed about 5.9 million returns through Jan. 30, 2015, up 39.1% from the 4.2 million returns e-filed by the same time in 2014. RELATED: Have Fun This Tax Season! | Tax Preparation Fees: The National Averages [INFOGRAPHIC] | IRS Form 3115: a Sin and a Travesty | How to Get Paid Faster This Tax Season | Accountants See Solid Business Gains in 2015 | As Market Share Slips Away, Accountants Look Beyond the 1040 | IRS Emerges as Major Tax Season Competitor | Tax Pros Losing Market Share to Self-Filers But the IRS cautioned in a footnote […]

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