surveys & research

busy season benchmarks in free fall

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major declines in all kpis: clients, revenues, profits, revenue per client, and profit per client.

busy season barometer:
how accountants are battling the coronavirus recession
join the survey. get the answers.

by 卡塔尔世界杯常规比赛时间 research

last year’s busy season was complicated, no doubt about it. the tax cuts and jobs act and the irs shut-down made life difficult for tax practitioners. but ultimately, they had a good year. a good 56 percent enjoyed an increase in clientele, and only 16 percent saw a decrease.

flash forward to the annus horribilis, aka 2020. according to this year’s 卡塔尔世界杯常规比赛时间 busy season barometer, only 46 percent of accountants are gaining clients — a 10-point reversal from last year. and another 25 percent are losing clients – a 15-point swing from 2019.

more busy season 2020: fiinal rs efiling stats: the end of tax season? | say hello to the new 24-month busy season | 9 big ways the irs could help accountants | the mystery of 10 million missing tax returns | tax pro e-filings down 20 percent | irs web traffic doubles over year-ago | covid drowns irs in new filings |   percent | irs web traffic doubles over year-ago | covid drowns irs in new filings | 2020 tax season comes to a screeching halt | the tax season 2020 dumpster fire | tax pros fall behind 6.2% in returns filed
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it’s impressive that so many tax offices have actually expanded their clientele during such hard times. and it’s not surprising that so many have lost clients.

what happened?

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down by 400,000 returns – the end of tax prep?

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red alert: tax professional e-filings drop by 0.5% year-to-year, first year-to-year decline ever.

final irs stats for busy season 2020 shows professionals filed 0.5% fewer returns than last year and lost market share to diy’ers.

busy season barometer:
how accountants are battling the coronavirus recession
join the survey. get the answers.

by beth bellor
卡塔尔世界杯常规比赛时间 research

in what may be an alarming turning point for the profession, tax practitioners finished an already chaotic and bruising tax season 2020 after preparing a total of 73.8 million e-filed returns – a decline of 400,00, or 0.5 percent, from tax season 2019 – the first such reversal on record. ever.

jon baron

more on tax season 2020: say hello to the new 24-month busy season | when covid ‘got real’ | tax pros hold efiling market share as tax seasons winds down | the top six irs #fails this tax season (so far) | how covid has pulverized irs operations | the mystery of 10 million missing tax returns | covid cuts accounting profits | why busy season may never be the same again | covid tests accountants’ entrepreneurial talents | pro tax prep stalls to a crawl amid covid-extended season | clients, revenues, profits – trending down, down, down |

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“if you are in public accounting and relying on personal return revenue, the results this year are troubling as it is the first time that professionally prepared returns actually fell from the prior year,” says jon baron, the longtime ceo of thomson reuters tax & accounting, and now a venture capitalist with more than a couple startups in stealth mode.

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say hello to the new 24-month busy season

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deann auman hill and mike shost at aicpa engage: “the 24-month tax season?”

covid chaos turns busy season 2020 from bad to worse.

busy season barometer:
how accountants are battling the coronavirus recession
join the survey. get the answers.

by 卡塔尔世界杯常规比赛时间 research

last year—the good old days!—busy season seemed to be about as bad as it could get. congress enacted the tax cuts and jobs act without explaining how it was to be enacted, and then changed some things. and then the irs shut down before the rules could be set and the new forms and schedules made available. and all of a sudden it was april 15.

more on the 2020 season: the mystery of 10 million missing tax returns | tax pro e-filings down 20 percent | irs web traffic doubles over year-ago | covid drowns irs in new filings | 2020 tax season comes to a screeching halt | the tax season 2020 dumpster fire | tax pros fall behind 6.2% in returns filed
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

tax practitioners had little good to say about 2019. according to last year’s 卡塔尔世界杯常规比赛时间 busy season barometer, 46 percent said 2019 was worse than the previous year. only 13 percent thought it was “much better.”

that was then.

this is now. and, now is worse.

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firms recall half of furloughed staffers

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total tax and accounting employees, in thousands, over the last 18 months. (卡塔尔世界杯常规比赛时间 research)

just in time to finish tax season.

by beth bellor

got whiplash? job sectors that saw figures plummet in last month’s report are seeing them climbing back, albeit not as quickly.

more: the mystery of 10 million missing tax returns | pro tax prep stalls to a crawl amid covid-extended season | planning for the coronavirus recession | the tax season 2020 dumpster fire | |  covid kills 67,600 jobs in tax and accounting  | pre-covid-19, accounting profession hits new highs

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the tax and accounting industry has quickly added back about half of the jobs lost in the covid-19 shutdown – just in time to finish the hyper-extended tax season, according to the latest 卡塔尔世界杯常规比赛时间 jobs report. but what happens next is anybody’s guess.

in this report, 卡塔尔世界杯常规比赛时间 analyzes:

  • current and long-term hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry (all data seasonally adjusted)
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

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accounting firms take billions in ppp payouts

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cpa firms grab the biggest slice of ppp loan payouts, accounting for 56% of the tax and accounting industry’s imperiled jobs. (卡塔尔世界杯常规比赛时间 research)

thousands of tax prep shops, bookkeeping companies, cpa firms, and payroll services take emergency loans, promising to save over 200,000 jobs.

by 卡塔尔世界杯常规比赛时间 research

some 6,610 tax, accounting, payroll, and bookkeeping firms have so far received millions of dollars in small business administration paycheck protection program loans, potentially saving over 210,613 jobs, according to new data obtained by 卡塔尔世界杯常规比赛时间 research.

the 卡塔尔世界杯常规比赛时间 full list of tax, bookkeeping, payroll and cpa firms is available to pro members here.

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the leading borrowers have all been cpa firms – each collecting $5 million to $10 million against a promise to save 10,298 jobs, more than half of the entire industry headcount threatened by the pandemic-fueled economic crash.

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the mystery of 10 million missing tax returns

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data chartwhile tax professionals’ efiling pace remains stalled, diyers grow by 4 million.

busy season barometer:
how accountants are battling the coronavirus recession
join the survey. get the answers.

by beth bellor

with less than a month to go before 2020’s extended tax deadline, the grind continues.

more: tax pro e-filings down 20 percent | irs web traffic doubles over year-ago | covid drowns irs in new filings | 2020 tax season comes to a screeching halt | the tax season 2020 dumpster fire | tax pros fall behind 6.2% in returns filed
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

and the question is: where are 10 million tax returns that should have been filed by now by professionals?

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getting a handle on covid

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views from the front lines: victoria martin, elaine kovner, gary zeune

accountants show new signs of optimism as fears of covid chaos wane.

how to battle the coronavirus recession
join the survey. get the answers.

by 卡塔尔世界杯常规比赛时间 research

the turning of a terrible tide of covid pessimism has been neither quick nor clear-cut as the endless busy season of 2020 drags on, according to new findings and analysis from the 卡塔尔世界杯常规比赛时间 busy season barometer.

more trends in surveys & research: covid crushes cpa business outlook |  is the worst over? 63% of small business say so | beat the covid crisis with these 20 steps for your firm and your clients | clients, revenues, profits – trending down, down, down | covid crushes rosey forecasts | the seven factors keeping accounting firms afloat amid covid-19 | feeling the pain? the biggest job losses by client sector | tax season pivots to covid rescue season | planning for the coronavirus recession | how accountants are coping with covid-19 |

more coronavirus coverage here

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the outlook certainly isn’t back to where it was in the sunny days of february. but hopes for a better year have edged up from 23 percent in april to 27 percent in may.

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pros filing more returns than diyers

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chart of irs tax return data for the week ending june 5, 2020… in the tax season that never ends.

by beth bellor

bleak but slightly less so.

more: tax pro e-filings down 20 percent | irs web traffic doubles over year-ago | covid drowns irs in new filings | 2020 tax season comes to a screeching halt | the tax season 2020 dumpster fire | tax pros fall behind 6.2% in returns filed | tax pros trail by 908,000 returns
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

that’s probably the best way to categorize the trends in the most recent data from the internal revenue service.

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