most tax professionals are having at least as good or better season this year. but the economy threatens fees and collections.
join the survey; get the updates.
the latest data show for the week ended march 15, 34% of practitioners report the season is running “better” than last year’s season, up from 25% in the previous week, ended march 8.
meanwhile, the number reporting “worse” conditions dropped to 21% from 27%. and the “about the same” has remained, well, about the same.
economic problems seem to be characterizing tax season 2009, with about 73% of accountants now calling it a real challenge, compared to about 62% a month ago.
clearly, accountants are more worried about matching last year’s revenues and profits — and, to an extent, to getting paid at all.
and that’s borne out in the comments. a sampling:
what’s different about this year?
(sample verbatim)
- losing some simpler clients to turbo-tax
- working many more hours.
- with many brokerage 1099’s issued so late, it feels as though our preparation time shrank from 2 1/2 months to 1 1/2 months. we have been preparing our clients to the higher likelihood of extension.
- we seem to be better prepared and staff has been doing an excellent job. within the context of the local and general economic  conditions, clients seem to be more involved and interested in our work and advisory consulting.
- we are not as busy. we’ve lost both tax and audit clients to smaller firms who under-bid our fees.
- there seems to be less appointments this year.
- tax work is coming in later, possibly not at all
- small returns are doing it themselves to save money. fees are a much bigger issue this year.
- phone not ringing as much as in years past.
- pessimistic economic outlook.
- people are more apprehensive
- people are getting their information to me later this year. the number of new clients this year surprised me.
- people are coming in faster and needing refunds faster
- people are bring information sooner than prior years
- overall client uncertainty
leave your comment below. then: join the survey; get the updates.
related posts:
- why you need to plan now for the after-tax season economic realities
- how business cpas are battling a tough economy
- survey results: cpas’ best advice for busy season
- the big tax season worry is post-season collections
- survey results: clients make the difference
- 10 reasons to hate tax season
- new survey launched: how’s busy season so far?
[research by bay street group llc. data copyright aicpa 2009.]
3 responses to “survey results: tax season workflow trends show improvement”
john k howard cpa
after seeing some of the comments above, you need something positive. i am experiencing a surge in new clients seeking higher end tax help. some clients who previously did their own returns now feel that their situation has become too complex; subject to amt or have some complex transaction or event affecting their returns. i am on my way to having my best year ever.
sherry j crabtree
clients are more apprehensive, but info is coming in quicker, as they hope for refunds coming quicker. we too are losing smaller returns to free or on-line prep. we are holding fees to no more than previous on long-time clients. over all, we are ahead of last year, at least due to timing; it remains to be seen how it works out by april 15th.
lee knoll
way behind last year as far as getting returns out door. many new clients this year.