Tax Season Checklists: The 2020 Update

About the Tax Season Checklists

These checklists have evolved over the years and are, in some respect, a collaboration of professionals seeking to improve the quality of their practice and create methods to work more effectively and efficiently.

Some of the checklists are formatted to be printed and hung on walls as posters such as the Key for a “Successful Tax Season,” “CPA Firm Business Model,” and “Advantages of Tax Season” pages.  Since the checklists are presented in Word format, they can be reformatted and customized to suit a particular practice if desired.

The Word® file is set up so you can copy and paste the checklists and adapt as you see fit. Any checklist can be accessed by searching this document using any keyword.

– Edward Mendlowitz, CPA

The Complete Checklist of Checklists

General Issues and Posters for Your Office

1. Key for a Successful Tax Season – Can Be Posted on Your Wall
2. Accounting Firm Busine$$ Model – Can Be Posted
3. Advantages of Tax Season – Chart Can Be Reproduced and Distributed to Staff or Posted
4. Three Questions to Ask Regarding Quality of Work Performed or to Be Performed
5. Goals of Tax Season
6. 10 Ways to Stay in Control
7. 50 Ways to Make More Money During Tax Season Including Increasing and Improving Productivity

Tax Return Preparation and Review Checklist

8. Preparer’s Work Process and Procedures Checklist
9. Reviewer’s Procedural Checklist for Individual Tax Returns
10. Reviewer’s Procedural Checklist for Business Tax Returns
11. Reviewer’s Review Notes
12. Tax Season Follow Up Form
13. Reviewer’s Pre-Review of Complicated Transactions
14. Easing Tax Season Workload Compression Checklist
15. Top 12 Tax Return Preparation Errors
16. Checklist of 46 Tax Filing Errors Clients Should Avoid
17. Reviewer Qualification Test
18. Answers
19. Tax Research Request
20. 20 Reasons for Obtaining Extensions

Client Relations, Services, and Billing

21. Top 10 Client Pet Peeves
22. What Makes a Good Client
23. How to Make Your Tax Return Easier to Do
24. Things to Consider When Accepting a New Client and Establishing a Fee Arrangement
25. Preparing Bills for Tax Returns
26. Additional Services Checklist for Clients
27. Sample Listing of Additional Services for Tax Clients
28. Tax Department Services
29. Sample Tax Notice Service Letter
30. Bill Accompanying the Tax Notice Service Described in the Letter
31. Ways to Reduce Tax Preparation Fees
32. Letter to Inform a Client of a Fee Increase for the Coming Year
33. Letter to Inform a Client of a Minimum Fee That Is Higher Than They Should Pay
34. Ways to Get Additional Tax Clients
35. Ways to Get Additional Business Clients
36. 21 Reasons for Lack of Tax Client Retention
37. Why Should a Client Use You to Prepare Their Tax Return?
38. Why a Client Should Use You to Prepare Their Tax Return
39. Advantages of a CPA Preparing Tax Returns
40. Checklist of Questions to Ask a Non-Filer Who Wants to File Their Delinquent Returns

Post Tax Season Retrospective

41. Post Tax Season Retrospective Checklist
42. Getting Rid of Tax Preparation Clutter

Staff Management

43. Ways to Make Tax Season Better and More Fun for You and Your Staff
44. Additional Ways to Excite Staff That Are Not During Tax Season
45. Things to Consider While Training Staff
46. Staff Development and Growth Checklist
47. Ways to Evaluate Staff Tax Season Performance
48. 30:30 Training Method Crib Sheet

Controllership

49. Controller’s Checklist
50. Questions for Interviewing a Bookkeeper
51. Sample Term Sheet Descriptions for Bank Loan

Succession Planning

52. Needed for Every Succession Plan
53. 30 Ways to Transfer Ownership to a Successor

Business Valuation

54. 50 Reasons for a Business Appraisal
55. Preliminary Document Request for a Business Valuation or for a Consultation Engagement

Financial Planning and Investment Management

56. Financial Planning Engagement Document Request
57. Reasons for Pursuing a Life Settlement Checklist
58. Getting Married Financial Planning Issues Checklist
59. Prenuptial Agreement Checklist
60. Tax Issues When Changing Your State of Residence Checklist
61. Ed’s Stock Market Investing Beliefs (A “How to Invest” Summary)
62. 10 Investing Watch-Outs
63. 15 Investing Axioms
64. How to Be Your Own Financial Planner
65. Questions a Client Should Ask Their Financial Advisor Checklist
66. Investment Policy Statement Template
67. Family Budget Worksheet
68. Elder Care and Family Bill Paying and Planning Checklist or for Family Office Services

Entrepreneurship

69. Buy-Sell Agreement Issues to Consider Checklist
70. Checklist for Starting a Business
71. Preparing a Business Plan Checklist
72. Swot Analysis Checklist
73. Checklist of Services for a Client Buying or Selling a Business
74. Task List for When a Client Wants to Sell Their Business
75. Not-For-Profit Board Member Responsibility Checklist of Tips
76. “Absentee” Owner Technique and Checklist
77. Daily Flash Numbers’ Report (3 Versions)
78. 40 Concerns of Business Owners

Managing an Accounting Practice

79. Checklist of Reasons for a CPA Firm Merger or Acquisition
80. Critical Issues in Running an Accounting Firm Checklist
81. Credit Card Authorization Worksheet
82. Sample Employment Policies Checklist
83. Checklist of Items to Put in Permanent File
84. Organization Minutes Checklist
85. Running a Meeting Checklist
86. Checklist for Change Projects
87. Factors to Consider When Estimating the Cost of a Review Report
88. Books to Boost Your Practice

Personal Checklists

89. Checklist for Traveling
90. Things to Pack for a Trip
91. Checklist for Golf
92. 10 Do Nots
93. Things to Do to Start the Year on a High Note
94. Start the New Year Without Clutter
95. Tax and Other Financial Records You Should Keep Forever —And Those You Should Toss
96. Sustainability – 12 Easy Things You Can Do

BONUS: The Getting-Your-Affairs-in-Order Toolkit

Worksheet 1 – Checklist of Estate Planning Things to Do

Worksheet 2 – People to Call About My Death or Permanent Disability

Worksheet 3 – Designation Sheet

Worksheet 4 – People to Include in Will or Trust

Worksheet 5 – Specific Bequests

Worksheet 6 – Obituary Questionnaire

Worksheet 7 – Checklist to Prepare for the Death of a Spouse or Partner or a Close Person You Would Be Responsible for Handling Their Affairs

Worksheet 8 – Important Papers Listing and Checklist Short Form

Worksheet 9 – Important Papers Listing and Checklist Long Form With Space for Complete Details

Worksheet 10 – Balance Sheet

Worksheet 11 – Cash Flow and Income

Worksheet 12 – Estimated Assets to Be Included in Estate and Potential Distribution to Beneficiaries

Worksheet 13 – Terms of Trusts

Worksheet 14 – Life Insurance

Worksheet 15 – Pensions and Annuities

Worksheet 16 – Financial Obligations

Worksheet 17 – Passwords

Worksheet 18. – Escheat or Unclaimed Funds Request Forms

Worksheet 19 – Warning Letter to Ira Beneficiaries

Worksheet 20 – How to Protect Your Children Against Identity Theft

Worksheet 21 – 10 Non-Tax Reasons for Estate Planning

Worksheet 22 – Forms of Ownership

Worksheet 23 – Managing Other People’s Money

Worksheet 24 – How to Give to Charity from Your IRA (And Avoid Taxes)

You are welcome to use the checklists in your office without attribution.
If you use them in a speech handout or presentation outside your firm, you are also welcome to use them, but I would appreciate an acknowledgment of the source such as:
Prepared by Edward Mendlowitz, CPA, Partner, WithumSmith+Brown, PC.

Enjoy, use, and have a great tax season!

– Edward Mendlowitz, CPA