Identity theft also is part of the program. The IRS’ Criminal Investigation Division is conducting fewer investigations with reduced staff, but there still is plenty of activity in its Refund Fraud Program, which includes the Return Preparer Program and the Questionable Refund Program.
Investigations are down 20 percent. By CPA Trendlines Research Despite high-profile victories in the Credit Suisse and Bank Leumi cases, the IRS’ Criminal Investigation Division is struggling with lower staffing levels and a continuing decline in the number of cases pursued.
After a bad year for many practitioners, watch for the consolidation and shakeout to come. By Rick Telberg CPA Trendlines Research Before Busy Season 2015 had even begun, tax professionals were worrying most about the new rules and regulations they’d be facing, among them, the Affordable Care Act. Join the survey; get the results Indeed, so-called Obamacare loomed largely over the 2015 season, but practitioners found bigger problems with Form 3115, tougher competition and fee pressures. So much so, that a significant number of practitioners swore this tax season would be their last. And with merger season coming close on the heels of busy season, the profession should brace for a new wave of consolidation and shakeout, according to the […]
Nearly 100 million individual returns have been filed. With the tax season winding down, the IRS had received more than 99 million individual tax returns as of April 3, down 0.8 percent from 2014. More than 97.9 percent of those had been processed – 97 million, down 1.2 percent from last year. 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 CPA Trendlines Busy Season Barometer 2015: Join the survey. Get the results By CPA Trendlines Research As results pour in from the final days of the CPA Trendlines Busy Season Barometer 2015, it’s clear that practitioners’ experiences range widely, from outright euphoria to bleak despair. See Comprehensive Coverage of Busy Season 2015 Here are a few the latest comments, verbatim… Better than last year. Volume is up significantly and good smoothness of preparation svc and knowledge of clients. We added a small tax practice in an adjoining town I didn’t have any clients with Obamacare non-compliance
In case you missed it… In this directory, CPA Trendlines compiles complete coverage of the 2015 busy season. SURVEY RESULTS: Latest Comments on Busy Season 2015 Verbatim practitioner reports from the front lines Busy Season 2015: Top Lessons Learned So Far Doing the Tax Season Math: Regs + Staff + Clients + Tech + Self = Busy x Busy x Busy Busy Season 2015: Fixing the Tax System How tax professionals would remake the tax code. Busy Season 2015: New Lessons in Time Management Lesson learned: Plan, prioritize, repeat. Tax Pros Cling to 57% of E-filing Market Total individual returns received has topped 90 million. Tax Pros Gain E-filing Market Share Some individuals choosing e-filing but paper return checks. Busy Season 2015: […]
Doing the Tax Season Math: Regs + Staff + Clients + Tech + Self = Busy x Busy x Busy By CPA Trendlines Research The key lessons learned from the 11th annual CPA Trendlines Busy Season Barometer Study are coming into clear focus. More: Busy Season 2015 Comprehensive Coverage A.B. East, at Manning Elliott in Vancouver, BC, Canada, for example, took a lesson in smart management. He says he learned “the importance of having the right complement of experienced staff to delegate to so I can reduce my hours and deliver to clients on timely basis.” Next year East will continue a very healthy policy: “I have been and will continue to mentor managers, seniors and juniors to advance their expertise on a […]
How tax professionals would remake the tax code. Imagine there’s no deductions, it’s easy if you try. No 8965, no1095-A, above us, only sky. Imagine all the CPAs, Living for today… By CPA Trendlines Research There’s nothing like another tax season to prod accountants into imagining about ways to reform the nation’s tax system. In the this year’s CPA Trendlines Busy Season Barometer, some CPAs have specific suggestions; others are calling on the profession to take a leadership role in the national conversation. Register your comments here: CPA Trendlines 2-Minute Survey: Fix the Tax System CPA Trendlines is polling the profession with a two-minute survey asking for specific recommendations for changing the code, the regs, the instructions and the forms – whatever it takes to make […]
Lesson learned: Plan, prioritize, repeat. Next question: Key financial metrics for 2015 results. Join the survey; get the answers. By CPA Trendlines Research They don’t call it “Busy Season” for nothing. It’s a frenetic, hectic, even hellish effort to herd client cats toward an unforgiving deadline. When we ask CPA Trendlines members what lessons they’re learning this year and what they plan to do about it next year, we hear a lot about time management. Based on the survey, time management issues can be organized into eight main categories: disorganized offices, timing, staffing, scheduling, procrastination, poor planning, the need for time off and the desire to retire. The solutions CPAs will be implementing next year range from minor tweaks to complete overhauls, or […]
Total individual returns received has topped 90 million. The IRS has received nearly 90.3 million individual tax returns as of March 27, down 0.6 percent from 2014. The processing rate remains nearly at pace, with nearly 88.3 million of returns processed – down 0.9 percent from last year but still running more than 97.8 percent complete. 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 […]
Some individuals choosing e-filing but paper return checks. The IRS has received nearly 82.3 million individual tax returns as of March 20, down 0.6 percent from 2014. It has processed more than 80.4 million of them, down 0.9 percent from last year and a rate of over 97.7 percent complete for this year.
Next Question: What’s the best way to fix the tax system? Register your comments here. By CPA Trendlines Research The U.S. tax system has become so complex and dysfunctional that even professional tax practitioners are bitterly frustrated and angry – outrage that’s been boiling over in the CPA Trendlines Busy Season Barometer. This year accountants are talking about staff problems, client problems, overload problems and Affordable Care Act problems. But the anger with new forms and regulations isn’t stopping there. “All reason has gone out the door,” says a CPA in Montrose, Colo. “I have been preparing tax returns for over 35 years. There has never been a tax season like this one – and there will never be another one like it.”
Think now about June. Yes, June. By Ed Mendlowitz Tax Season Opportunity Guide Marketing takes many forms. Further, many accountants are not trained in marketing. I also know that while most CPAs want more business, they are too busy with what they have to be actively seeking new business. Additionally, marketing can be external, internal or retentive. MORE ON TAX SEASON: When ‘Quick and Easy’ Tax Season Research Isn’t | 5 Personal Touches for Tax Season | Consistency Simplifies Tax Season | 11 Clear Client Instructions to Make Your Tax Season Easier | 3 Ways to Build a Tax Season Team | Have Fun This Tax Season | How to Get Paid Faster This Tax Season External is where new […]