You should be clear on the responses to the above two questions. If you can’t clearly articulate the reasons clients should use you and why staff would want to work for you, then why should they? READ MORE →
Data for the week ending April 17, 2020. * Total includes returns filed to obtain Economic Impact Payments by those who would not usually file income tax returns.
Coronavirus hit IRS data in a couple of ways this week.
People who don’t ordinarily file income tax returns, but did so to obtain economic impact payments, boosted filings higher than they might have been for the week ending April 17, the latest data. In addition, visits to IRS.gov shot up 77 percent over 2019 – the Get My Payment link surely was part of that picture.
The Internal Revenue Service reported receiving 116 million individual income tax returns, down 15.5 percent. It had processed 106.6 million returns, up 18.5 percent. READ MORE →
Slammed by the COVID-19 crisis, Tax Season 2020 has gone off the rails.
Tax return filing activity is trending down, and who can blame filers? With an automatic three-month extension, those who owe taxes have no incentive to file anytime soon. And practitioners are consumed with protecting their firms and rescuing their clients.
That may be impacting numbers for e-filings by tax professionals, which are down in double digits. Perhaps those whose dealings are complex enough to need assistance are seeking appointments in June now. READ MORE →
2020 FILING SEASON STATISTICS: Cumulative 3/8/2019 vs. 3/6/2020
As do-it-yourselfers surge by more than a million.
Busy Season Barometer: How Does This Year’s Busy Season Compare to Last Year’s? Better,Worse, or About the Same?
By Beth Bellor
Tax professionals are losing their share of the e-filing market this tax season, dropping to 48.5 percent of all returns e-filed, down slightly more than one percentage point from the same time last year.
The IRS had received 68 million individual income tax returns as of March 6 – the latest data available – up 0.4 percent from the same period in 2019. The agency had processed 65 million returns, down 0.5 percent. READ MORE →
The Internal Revenue Service received 15.8 million individual income tax returns for the week ending Jan. 31 – the first of the season and just five days long – down by 1.6 percent from the year before. It had processed 12.9 million returns, down 2.7 percent, for a processing rate of 82 percent. READ MORE →
Not establishing uniform procedures is bad business and unnecessarily consumes part of your life. Consistency in performance reduces work and review time and creates a greater reliance on the staff people. READ MORE →
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Coronavirus crushes tax prep.
DIYs, refunds are up.
