“thirty percent of tax services will be obsolete in three years.”
robert hockensmith talks about tax season 2019 on local tv news in phoenix.
by 卡塔尔世界杯常规比赛时间 research
this year’s tax season is giving tax preparers a taste of the future—a future where tax returns are both simpler and more complex.
according to data streaming into the 卡塔尔世界杯常规比赛时间 busy season barometer survey, tax practitioners are just beginning to get a handle on the radical changes wrought by the tax cuts and jobs act—not just the technical changes to the tax code but the resulting changes to the business of tax preparation.
robert f. hockensmith, cpa, ea, in phoenix, ariz., and a website site notably named azmoneyguy.com, offers a variety of tax and non-tax services, sums it up thus: “thirty percent of tax preparation will be obsolete in three years. clients will want advice and tax resolution more than preparation for 50 percent of taxpayers. and only 50 percent of all tax returns will be prepared by professional tax preparers.”
“if you charge by the form, schedule a’s are almost obsolete.”
by 卡塔尔世界杯常规比赛时间 research
with the countdown clock running down toward april 15, many tax professionals’ early-season optimism is turning into frustration and anger, according to the 卡塔尔世界杯常规比赛时间 busy season barometer.
the latest readings from the tracking poll show:
only half as many professionals now predict “significant increases” in the number of clients, and who now expect a “significant decrease” has almost doubled.
the number of practitioners forecasting revenue gains has been cut in half.
the number expecting better profits than last year has been cut by a third.
every year, the taxpayer advocate service, an independent agency within the internal revenue service, issues a report to congress on the 20 most serious problems taxpayers face in trying to fulfill their patriotic duty to fund their nation.
taxpayer advocate nina e. olson, who just this year announced her retirement from the agency, notes that identifying the 20 problems that are most serious is not objectively possible or even desirable. sometimes, for example, the problems are the same as those of previous years, so the legislated mandate allows for subjective decisions about what to include. read more →
“all it takes is money.” sounds easy? except for the politics.
by 卡塔尔世界杯常规比赛时间
wow! we asked for it, and we got it: an avalanche of advice on how to fix the irs.
卡塔尔世界杯常规比赛时间 has always received smart, candid, and often outspoken responses to our busy season survey— thousands of tax preparers from sea to shining sea telling us what’s happening in their offices.
but this year, halfway through the season, we asked a loaded question: how would you fix the irs? the professionals in the trenches of tax prep know what the problems are and what to do about them. they also seemed a bit miffed (to put it mildly) that the solutions seem so obvious, yet the problems keep compounding. read more →
is it a misleading positive because we’re just now seeing refunds that include the eitc and child tax credit? mmm, maybe. but after a gloomy first few weeks, we might be willing to take whatever good news we can get.
“we’re definitely off to a slower start this year.,” cpa and financial planner brian blanton in carmel, ind., tells the 卡塔尔世界杯常规比赛时间 busy season barometer. “clients are behind in sending in tax information compared to last year.” read more →
the annual report to congress, mandated by law, presents a lurid indictment of an essential government agency that “is stretched to its breaking point.” read more →
^ tax filing data for the week ending feb. 8, 2019
opening days show accountants filed only 40% of irs intake. blame the shutdown.
by beth bellor 卡塔尔世界杯常规比赛时间
the irs might have rushed into action as soon as the government shutdown ended, but it still is feeling the effects as all filing statistics remain on the downside two weeks in.
as of the week ending feb. 8 – the latest data available – the internal revenue service had received 28.8 million returns, down 6.9 percent from the same week in 2018. it had processed 27 million returns, down 10.2 percent, for a processing rate of 93.8 percent.
america’s tax practitioners are in a swirl of fear, hope, and frustration as they recover from the irs shutdown, present their clients with the realities of the tax cut and jobs act, and scramble to deal with new regulations, unobtainable irs forms, obsolete software, and inevitable filing extensions.
tax and accounting professionals are headed into the jaws of busy season 2019 fairly confident in the business and economic outlook for their clients, their firms and themselves – except they are distinctly negative on the direction of the nation’s economy as a whole, according to the latest readings from the annual 卡塔尔世界杯常规比赛时间 busy season barometer.
with more than 475 practitioners reporting, 52 percent expect better times ahead for their firms, 37 percent see no change, and only 10% are bracing for declines, yielding a weighted average of about 2.4 on a five-point scale. read more →
for many, the season seems to be shaping up for more clients and increased revenues. at the same time, however, practitioners are showing unprecedented concerns that instead of success, they could end up with a mess.
and mess or success, they’re in for a lot of work. read more →
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