CPA Trendlines Subscribers Sound Off About 2015 Self-Filers

bullhornSome 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.

Bea Nahon
Nahon

“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 out to be our clients, which we don’t discover until we attempt to e-file.”

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Quote With Care When Asked for Valuation

Ed Mendlowitz CPA The Practice Doctor Q and A12 issues that might not have been addressed.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: I was asked to do a quote on a business valuation for a startup that will be raising money on their second stage financing. How do I quote this?

ANSWER: This is a wide-reaching question and it is not possible to know initially what the client really needs. They could need a valuation, a business plan or a method of bringing in the investor.

Here are some of the many issues and variables:
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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 e-filed returns, compared with 56 percent in 2014. READ MORE →