surveys & research
covid crushes rosey forecasts
survey shows hopes for a smooth and profitable 2020 are destroyed by a floundering economy.
卡塔尔世界杯常规比赛时间 business barometer:
how accountants are managing:
join the survey. get the results.
by 卡塔尔世界杯常规比赛时间 research
the resilience of the coronavirus and the continued spread of covid-19 has accountants shifting the focus of their concerns.
more: the seven factors keeping accounting firms afloat amid covid-19 [survey results] | feeling the pain? the biggest job losses by client sector | tax season pivots to covid rescue season | how accountants are coping with covid-19 | survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]
卡塔尔世界杯常规比赛时间 is providing free access to some of our latest coronavirus crisis updates: start here for a guide to all our free coverage.
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ages ago—back in february, b.c. (before covid)—the 卡塔尔世界杯常规比赛时间 2020 busy season barometer survey found that out of 14 common concerns, economic conditions were of the least concern, the bottom of the list, worrying just eight percent of respondents.
covid changes everything.
the seven factors keeping accounting firms afloat amid covid-19
and the top five survival strategies, according to 卡塔尔世界杯常规比赛时间 research.
卡塔尔世界杯常规比赛时间 business barometer:
how accountants are managing:
join the survey. get the results.
by 卡塔尔世界杯常规比赛时间 research
under the historically unprecedented pressures of the covid-19 pandemic, u.s. accounting firms large and small are adapting as fast as they can—or rather, as fast as they must.
more: feeling the pain? the biggest job losses by client sector | tax season pivots to covid rescue season | how accountants are coping with covid-19 | survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]
卡塔尔世界杯常规比赛时间 is providing free access to some of our latest coronavirus crisis updates: start here for a guide to all our free coverage.
practitioners are striving, struggling, scrambling to do what they have always done, and on top of that, to learn what they never knew in order to serve clients as in ways they needed to before.
less than three months from when the first cases were reported, the pandemic has taken the lives of over 70,000 americans and is approaching 3,000 deaths a day. while the pandemic has been a shock to the economy, tax and accounting practices appear to be maneuvering through it better than many other businesses.
feeling the pain? the biggest job losses by client sector
jobs survey pinpoints client niches suffering the most under covid. bonus: infographic.
卡塔尔世界杯常规比赛时间 business barometer:
how accountants are managing:
join the survey. get the results.
by 卡塔尔世界杯常规比赛时间 research
private sector employment decreased by 20.2 million jobs from march to april according to the april adp national employment report, and that doesn’t reflect the full impact of covid-19.
a quick scan of the data shows the hardest hit client sectors, with the smallest businesses hit particularly hard.
more staffing and hiring trends: planning for the coronavirus recession | automation and the future of accounting | getting and keeping the best: the struggle continues | headcounts dip by 3,500 in tax & accounting | creative perks for remote employees | what staffing shortage? | hiring trends flash warning signs of slowdown in tax & accounting | salary survey: top skills getting top pay
see: all 卡塔尔世界杯常规比赛时间 special coronavirus crisis coverage
exclusively for pro members. log in here or 2022世界杯足球排名 today.
“job losses of this scale are unprecedented. the total number of job losses for the month of april alone was more than double the total jobs lost during the great recession,” says ahu yildirmaz, co-head of the adp research institute. “additionally, it is important to note that the report is based on the total number of payroll records for employees who were active on a company’s payroll through the 12th of the month. this is the same time period the bureau of labor and statistics uses for their survey.”
the details by company size and business sector:
tax season pivots to covid rescue season
it ain’t pretty: 62% of accountants switch outlook from “better” to “worse.”
busy season barometer
how’s covid-19 impacting accounting firms?
join the survey. get the answers.
by 卡塔尔世界杯常规比赛时间 research
the sentiments of accountants this busy season have been as up and down as the dow jones.
more on tax season: how accountants are coping with covid-19 | survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]
the year started off on an optimistic note. but by the time the coronavirus got real, all hope had been abandoned.
irs web traffic doubles over year-ago
as filers seek stimulus checks.
busy season barometer
how’s covid-19 impacting your firm?
join the survey. sound off. get answers.
by beth bellor
want a bright spot in the irs’ weekly updates on tax filings? it’s website traffic, more than double what it was a year ago.
more: 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 | tax pro irs filings lag by 532,000 | tax pro e-filings lag by 512,000 returns | tax pros kick into high gear
everything else? a sea of red.
read more →
planning for the coronavirus recession
if past recessions are any guide, the profession could lose up to 100,000 jobs.
busy season barometer:
bracing for the coronavirus recession
join the survey. get the facts.
by beth bellor
the tax and accounting profession was adding new jobs at a rate of 2.3 percent per year before the coronavirus outbreak, according to 卡塔尔世界杯常规比赛时间 research.
see: all 卡塔尔世界杯常规比赛时间 special coronavirus crisis coverage
more staffing and hiring trends: automation and the future of accounting | getting and keeping the best: the struggle continues | headcounts dip by 3,500 in tax & accounting | creative perks for remote employees | what staffing shortage? | hiring trends flash warning signs of slowdown in tax & accounting | salary survey: top skills getting top pay
but with a new recession looming, 卡塔尔世界杯常规比赛时间 estimates the profession could lose up to 100,000 jobs and take up to seven years to recover.
the latest data available show more than a million employees in the profession, and growing at about 2,800 new jobs per month. at the same time, wages are hitting record highs.
but with the coronavirus crisis threatening a new recession, 卡塔尔世界杯常规比赛时间 conducted a long-term, 30-year analysis, focused on the job losses caused by the dot-com crash of 2001 and the financial meltdown of 2007. from the analysis, 卡塔尔世界杯常规比赛时间 calculates the profession could shed up to 10 percent of its current workforce, and not fully recover for two to seven years.
in this report, 卡塔尔世界杯常规比赛时间 highlights:
- 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
survey: how many scanners does a firm need?
do you use a centralized scan strategy or have a scanner at everyone’s desk?
and: how are work-from-home mandates changing things?
how accountants are coping with covid-19
new methods, new mindsets.
the busy season barometer
coronavirus crisis management strategies:
join the survey. get the answers.
by 卡塔尔世界杯常规比赛时间 research
the coronavirus sure did hit quick. it seems like it’s been here since forever, but it didn’t really strike until halfway through the busy season. there were ominous clouds on the horizon in january, but early respondents to the 2020 卡塔尔世界杯常规比赛时间 busy season barometer were generally expressing optimism.
more on tax season: survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]
then things went downhill fast. but despite the pressures of the tax season, cpas have been equally fast at adjusting to the new world. they really had little choice. they could innovate. they could close up shop. or they could get really, really sick.
innovation seems to be the most popular choice. read more →
fraud: it’s where the money is
cpa firms have opportunities here. bonus: infographics.
by 卡塔尔世界杯常规比赛时间
covid-19 isn’t the only pandemic ravaging the world. there’s a financial virus going around, too.
more in risk management: in these turbulent times, leaders must lead! | indemnification helps partners sleep well | tax season is hacker season | 2020 outlook: top 5 emerging risks for cpas |
it’s called fraud – maybe not contagious, but it pops up everywhere. on average, an estimated 5 percent of the world’s revenue is lost to fraud each year, a median loss of $125,000, an average loss of $1,509,000.
the prevalence and seriousness of fraud is both opportunity and obligation for cpa practices, not to mention internal audit departments.
according to the 2020 global study on occupational fraud and abuse, just issued by the association of certified fraud examiners, external audits were the source of detection in only 4 percent of 2,504 organizations analyzed in 125 countries. internal audits accounted for 15 percent of detection, and internal controls seem almost not worthwhile, finding only 2 percent of cases of known fraud.
despite increasingly sophisticated fraud detection techniques, tips are still by far the most common way fraud is discovered, responsible for 43 percent of detected cases. read more →
covid drowns irs in new filings
* total includes returns filed to obtain economic impact payments by those who would not usually file income tax returns.
why not? submissions are way down.
busy season barometer
how’s covid-19 impacting your firm?
join the survey. sound off. get answers.
by beth bellor
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.
more: 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 | tax pro irs filings lag by 532,000 | tax pro e-filings lag by 512,000 returns | tax pros kick into high gear | slow start for tax pro e-filing | data points down as tax season opens | the fight for new tax clients
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 →
survey: skype vs. zoom for video calls?
trend watch: firms relied on skype, but may be switching to microsoft teams now.
accounting firm operations and technology survey
2020 tax season comes to a screeching halt
irs web traffic surges 22%.
how’s covid-19 impacting your firm?
join the survey. sound off. get answers.
by beth bellor
if you’re looking for bright spots as the united states deals with the global pandemic, avert your eyes from the irs.
more: the tax season 2020 dumpster fire | tax pros fall behind 6.2% in returns filed | tax pros trail by 908,000 returns
although average refunds and website visits are up, everything else is down – in the case of e-filings by tax professionals, down 20.1 percent. yeowch.
read more →