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CLIENT SERVICE OPPORTUNITIES

Shutdown: What to Tell Tax Clients During “The Lapse”

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Government shutdown scrambles busy season.

Next question: How’s it affecting accountants and clients?
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By Rick Telberg
CPA Trendlines

The Internal Revenue Service is struggling to continue operations as the nation heads into tax season during the “appropriations lapse,” a.k.a the government shutdown.

Some 16,000 IRS employees are exempt from the shutdown, and another 30,000 are being called in to work without pay—a total of 57.4 percent of the 80,265 employed before the shutdown.

Nevertheless, with four desks out of ten empty, the IRS is holding back on most services that require human involvement.

Tax practitioners would do well to advise their clients of the following:

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CHARTS & GRAPHS

2019: Buckle Up for a Bumpy Road

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Global trade wars, political winds buffet business.

By Kayleigh Padar
CPA Trendlines

CPAs should be prepared to help their clients navigate an increasingly unstable global economy and burgeoning challenges with technology, particularly cyber threats, according to a new global study of C-level executives.

MORE SURVEYS & RESEARCH: Jobs Report: 43,000 New Hires  |  CPA Wealth Advisor Survey  |  Survey: Clients Rush for TCJA Answers  |  Join the Accounting Firm and Operations Technology Survey  |  Mergers vs. Clients: Winners and Losers  |

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The annual study from ATKearney shows a bumpy road ahead for global executives, from the effects of Brexit to the increase in targeted fake news campaigns. READ MORE →

FEATURED

2019: Tech Isn’t the Problem. It’s the Solution

Dobek
Dobek

Sarah Dobek foresees new leaders, new services, new clients.

By Rick Telberg
The Rosenberg Survey: National Study of CPA Firm Statistics

It may seem too obvious to bother mentioning, but the accounting industry, from audit firms to tax prep to corporate finance, is in the process of transition. But too many managers think that just means technological transition.

MORE FROM THE MAP SURVEY: 2019: More Focused Training | 2019: Expect More Alliances | 2019 Trends: Client Service Changes | 2019: Shifts in Hiring & Office Space | 2019: Firms Grapple with Change | Staff Policies Improve, But Not Mentoring
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Technology may be behind a lot of the transition, but technology itself is not the transition. It’s the enabler of transition.

Sarah Dobek, president and founder of Inovautus Consulting, has identified numerous interwoven transitions in process, some already peaked and passing, others coming down the pike.

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OUTLOOK & ANALYSIS

Economy Shakes CPA Confidence

CPA Outlook Index (AICPA)

But they expect better for their own firms.

By Kayleigh Padar
CPA Trendlines

Trade wars and interest rate trends are undermining accountants’ confidence in the U.S. economy, even as their outlook for their own firms strengthens, according to a new survey of 400 C-level CPAs.

MORE SURVEYS & RESEARCH: Jobs Report: 43,000 New Hires  |  CPA Wealth Advisor Survey  |  Survey: Clients Rush for TCJA Answers  |  Join the Accounting Firm and Operations Technology Survey  |  Mergers vs. Clients: Winners and Losers  |

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Only 57 percent said they were optimistic about the U.S. economy over the next 12 months, down from 69 percent in the previous quarter. CPAs cite trade issues and rising interest rates as the main reasons for their pessimism. READ MORE →

OUTLOOK & ANALYSIS

CPA Wealth Advisor Survey

Early results show double-digit growth. By CPA Trendlines Research The Financial Awareness Foundation has teamed up with HB Publishing & Marketing Company, LLC and other financial associations to gauge the sentiment of independent financial planning and wealth advisory firms after the first two years of the Trump Presidency.
Here's the link: