tax

new attitudes spell new opportunities in estate planning

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is the american postmortem dream dead or just drifting?

by 卡塔尔世界杯常规比赛时间 research

in an unsettling shift, the old american dream of hard work leading to opportunity and financial advancement is fading into history.

more: what struggling small businesses need | five ways to head off reluctant leadership | big growth coming for client advisory services | scams getting more sophisticated | you need capable successors for a seamless transition | mark koziel: the future of the profession | gear up for growth | america’s running short of financial advisors | maybe the pipeline problem is technology
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sixty percent of americans are abandoning the traditional value system as younger generations prioritize “personal fulfillment, social impact and even digital legacy over traditional wealth accumulation,” according to trust & will, an online estate planning firm.
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tax pros edge diyers in e-filings

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table of irs filing data

refunds average around 5 percent over last year.

by beth bellor

can you say paperless? only 2.7 percent of individual income tax returns come into the internal revenue service by paper anymore, and only 3 percent of refund recipients request paper checks.

more: tax refund totals up 7% | tax pros handle 46% of e-filings | tax refund totals up 10% | tax refunds plummet, but no worries | tax refunds up 18% early on | first tax filing reports are in
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the agency received 70.4 million individual income tax returns as of march 14 – the latest data available – down 1.7 percent from the same period in 2024. it processed 69.6 million returns, down 1.4 percent.
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art werner: turmoil in washington | tax issues update

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what do tax pros need to know about the uncertainty in washington?

sponsored by “turbocharge your profits: how to thrive in the new economy,” by frank stitely, cpa, cva – see today’s special offer

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quick tax tip
with art werner
cpe today

with tax season in full swing, cpas and tax professionals are juggling client returns and a rapidly shifting tax landscape. in the latest quick tax tip, art werner joins rick telberg of 卡塔尔世界杯常规比赛时间 to dissect the state of tax policy, irs challenges, and how accountants can turn uncertainty into opportunity.

click here for more art werner 

from looming irs layoffs to the evolving role of technology in compliance and planning, this conversation is packed with insights that every tax practitioner needs to hear. here are the biggest takeaways:

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two types of tax review and how to use them

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woman reading document at desk

let color-coded tick marks be your friends.

by frank stitely
the relentless cpa

one of your roles as ceo is reviewer. there are two types of review: primary and secondary.

more by frank stitely
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depending on the size of your firm, you may only have primary reviews. if your firm consists of you and a preparer, you won’t have a second level of review. i don’t consider the self-review as a review step. i consider it part of preparation.
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why chaos at the irs spells new work for tax professionals

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the three key irs tools every pro must learn today.

by eric l. green, llm

between all of the back-and-forth between doge and the irs, not to mention travel and credit line reductions, it raises questions about what exactly the fate of the irs will be.

more: the irs tidal wave is here | s corp clients beware | four ways to handle federal tax liens | the irs is coming! get your clients into compliance | tax chat: eric green reveals the tax rep guide to tax season | what i wish clients knew about tax liens | tax: explaining the bad news about canceled debt to clients | offers in compromise aren’t for everyone
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in fact, the latest announcement is to cut the irs by 50 percent by the end of 2025. so, if you are wondering just what the heck the game plan is, you are not alone. after speaking with close colleagues inside the irs, i can say it is basically chaos at the moment.

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tax refund totals up 7%

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data table

individual amounts are up 5 percent.

by beth bellor

winter is fading away but busy season remains with us.

more: tax pros handle 46% of e-filings | tax refund totals up 10% | tax refunds plummet, but no worries | tax refunds up 18% early on | first tax filing reports are in
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as of march 7, the latest data available, the internal revenue service had received 61.4 million individual income tax returns, down 2.1 percent from the same period one year ago. it had processed 60.8 million returns, down 1.8 percent.
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art werner: maximize retirement for 2025 | quick tax tip

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retirement planning isn’t just about saving – it’s about strategy.

sponsored by “turbocharge your profits: how to thrive in the new economy,” by frank stitely, cpa, cva  – see today’s special offer

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quick tax tip
with art werner
cpe today

with tax laws constantly evolving, finding the right balance between financial planning, tax reduction, and compliance with the internal revenue code can feel like a moving target. fortunately, powerful opportunities are available in 2025 to maximize your retirement savings while minimizing your tax burden.

click here for more art werner

for instance, contribution limits to 401(k)s have significantly increased. in 2025, you can contribute up to $23,500; if you’re 50 or older, you can add an extra $7,000 in catch-up contributions. that’s a major opportunity to secure your financial future while reducing your taxable income today.

but should you contribute to a roth 401(k), a traditional 401(k), or other savings account?

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make tax workflow work for you

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smiling woman wearing glasses, looking at computer screen

tell quickly when a delay is the client’s fault. plus: 12-step tax return and 8-step writeup workflows.

by frank stitely
the relentless cpa

let’s play buzzword bingo. i’ll go first: workflow.

workflow is the cpa firm buzzword of the decade. every vendor leech trying to suck the life out of your bank account drops this term, and in so doing, workflow now means everything and nothing at all. marketers have so devalued the term that we shouldn’t be surprised that no one has an effective workflow, because no one knows what it is. let’s flush the confusion.

more by frank stitely
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workflow is not scanning and import software. workflow is not workpaper binder software. workflow is not a portal or tax return preparation software. workflow is not project management software, much as it pains me to so state. these are no more workflow than a hammer is real estate development. they are tools to accomplish workflow.
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gaps galore at the irs

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stressed businessman, heads on hands

some of the fixes are simple.

by 卡塔尔世界杯常规比赛时间 research

the word “gap” occurs 28 times in the national taxpayers advocate’s 2024 annual report to congress. the report highlights a wide and crippling assortment of gaps in america’s favorite tax agency.

  • a tax gap
  • a salary gap

more: is voluntary disclosure of tax noncompliance working? | irs needs to work better with its workers | why itin applications get delayed | the ouches of the tax ‘practitioner’ scam | could the irs do better with the phones? | irs sluggish on identity theft | tax preparers share advice for your clients | check these 41 items on business tax returns | irs must speed up tax return processing | first tax filing reports are in | cut down your tax work in progress | more than 1 million erc claims still not processed
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  • a tax pro oversight gap
  • a hiring data gap

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