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CHARTS & GRAPHS

Survey: Big Worries for U.S. and Small Business

About two-thirds of accountants expect tougher times ahead for the nation’s economy and for small businesses. They are considerably more confident about the outlook for their firms. (CPA Trendlines Research)
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While signs are looking better for firms.

By CPA Trendlines Research

In a contradictory combination of economic outlooks, accountants are seeing pretty good times ahead for their firms and families, but trouble for other businesses.

MORE BUSY SEASON ’22:  Working Harder for Every Dollar  | IRS Tops List of Busy Season Problems  |  For a Few: Why Busy Season 2022 Beats 2021 |  Can the R&D Tax Credit Be Used to Offset the AMT?  |  21 Reasons Tax Clients Fire Accountants  |  Unhappy about Tax Season?  |  Individual Tax Refunds Up 13%  | Shut Down the Tax Charlatans   | Eight Quick, Easy Ways to Fix IRS Filing   |  A Tax Season Worse than 2021?  |  16 Traits of the Best Tax Clients  | IRS under COVID: Heroes or Goats?

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According to mid-season results from the CPA Trendlines Busy Season Barometer, 38 percent of respondents think the next 12 to 18 months will be much better (at 7 percent) or at least somewhat better (31 percent) for their own firms, and almost half – 45 percent – believe they’ll be doing at least as well as last year.
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FEATURED

The Big Issues in Audit: Frustration, Inconsistency, and Technology

Businessman pressing a "future" concept button

Discussing audit transformation and innovations, one advisor said the field is ripe for technological solutions that allow team leaders to focus on advising clients and help team members streamline processes for automation.

By The Center for Accounting Transformation
improvetheworld.net

In kicking off an inaugural meeting with audit industry experts, Donny Shimamoto, CPA, CITP, CGMA, asked the group, “What does the modern or leading-edge audit practice look like?”

Related:  Top Issues: Talent, Time, and Transformation

Learn more about the Center’s Audit Advisory Board or view the Center’s transformation courses.

The group, which met for the first time recently, is the Center for Accounting Transformation’s Audit Advisory Board. Shimamoto, who created the Center, brought together audit professionals with various backgrounds to help guide strategic direction, services, and program planning for the Center, which helps professionals through the adoption and change required to step into the future of the accounting profession.

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CHARTS & GRAPHS

Tax Season ’22: Working Harder for Every Dollar

We may be miserable but the money is rolling in.

How does your tax practice measure up?
Join the Survey. Get the Results.

By CPA Trendlines Research

For the first time in a long time, the CPA Trendlines Busy Season Barometer is picking up signs of optimism among tax practitioners.

Optimism! It seems kind of quaint today, like a rerun of Mary Poppins.

MORE:  IRS Tops List of Busy Season Problems |  Shut Down the Tax Charlatans | Tax Pros Preparing 46 Percent of E-filings | Eight Quick, Easy Ways to Fix IRS Filing | For a Few: Why Busy Season 2022 Beats 2021 | A Tax Season Worse than 2021? | 16 Traits of the Best Tax Clients | Six Fixable Problems at the IRS | IRS under COVID: Heroes or Goats? | IRS Launches 2022 Season with “Strong Start” | Two Big (and Obvious) Ways IRS Could Work with Practitioners | Imagine a Fully Online IRS | The Real Cost of Interstate Sales Tax | IRS At Death’s Door? | Beyond Tax Prep: The Big Cha-Ching! | Crisis at the IRS | The IRS’s 10 Biggest Problems | Fear and Loathing for Tax Season ’22

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But Mary Poppins, CPA, might have a bit of a hangover.

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FEATURED

Staffing Crisis: 40% Are Looking for New Jobs

data chart
Adecco Group 2022 Salary Guide

Money isn’t the biggest draw.

By CPA Trendlines

America’s workers are on the move. Maybe it’s post- (let’s hope) pandemic restlessness. Maybe it’s the closing of companies and the loss of jobs. Maybe it’s the windows of opportunity that opened during remote work.

MORE: The FinTech Flood: Accounting Will Never Be the Same | CPA ROI DOA: Why the Next-Gen Accountant Won’t Be a CPA | Matt Wilkinson: Think Small to Think Big | How to Communicate Your Value  | Payroll Services Rocket with U.S. Economy | Internal Communication Can’t Be Overlooked | Top Issues: Talent, Time, and Transformation |  The Disruptors: Re-Inventing Accounting with Tyler Anderson |

More in RECRUITING  & TALENT MANAGEMENT

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Whatever it is, an astonishing 40 percent of workers say they are likely to consider a new job opportunity in 2022, according to the 2022 Salary Guide issued by The Adecco Group.
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CHARTS & GRAPHS

Individual Tax Refunds Up 13%

IRS data chartPros handle less than half of e-filings.

By CPA Trendlines

Six weeks into tax season, 63.5 million individual income tax returns had been filed, down 3.9 percent from the same period in 2021 – the week ending March 11, the latest data available from the Internal Revenue Service. Of those returns, 62 million had been processed, up 5.9 percent, pegging the current processing rate at a respectable 97.6 percent.

MORE: Tax Pros Preparing 46 Percent of E-filings | IRS Launches 2022 Season with “Strong Start”
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A tax season that began and ends one month earlier than the previous year makes comparisons difficult, with true perspective likely not possible until late May.
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