Tax Season 2011 Disappoints Some

Despite economic recovery, many firms seem unable to capitalize on new opportunities. Click here to join the Tax Season 2011 survey; get the results.

March survey results show 18% of accountants reporting "much" better overall results than a year ago and 26% reporting "somewhat" better results. Source: CPA Trendlines Research

Tax accountants are finishing the 2011 busy season with stronger results than they expected, but – perhaps surprisingly — not as strong as last year, despite somewhat improved economic conditions.

CPA Trendlines research suggests that many accounting firms may have over-reacted to the 2007 market crash by cutting staff and billing rates, leaving them unprepared to capitalize on the opportunities of the 2011 recovery.