today's features
outlook & analysis

gaps galore at the irs

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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pricing, fees & billing rates

the time is now for value pricing

hand moving triangle along beam to indicate balance between price and value

your clients will be happier … and so will your staff.

by jody padar
radical pricing – by the radical cpa

welcome to today.

value-based pricing and client-centric business models are no longer pie-in-the-sky concepts discussed in dark corners at accounting conventions. they have become accepted ways of doing business among a growing number of progressively minded firms.

more by jody padar
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perhaps you’ve already gone head to head with a firm pitching the value of their services rather than their hourly costs. perhaps you’ve grown concerned by rumblings among your staff for more pay and better work-life balance. perhaps you just want to ensure your firm is positioned for long-term growth.
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busy season management

remember these nine tax season resources

happy family of four outdoors in winter clothing on snow

don’t take them for granted.

by ed mendlowitz
tax season opportunity guide

we have many resources and need to recognize that. and we need to treat each with its own importance. even if you did everything yourself, you’d still need to rely on your tax software company, fedex and the postal service, stationery supplier, computer consultant, the internet and email, cell phone provider and copier/scanner machine. and that’s just a few of the resources we rely on. managing your resources well creates an aura of security and consistency to your practice.

more by ed mendlowitz
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but there more. and they are often overlooked. or taken for granted. here are some more resources that need to be managed:
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featured video

art werner: navigating the corp. transparency act | quick tax tip

the new responsibility for tax professionals is also a chance to grow your practice and billable hours.

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quick tax tip
with art werner
cpe today

as a tax professional, you are already well-versed in dealing with the complexities of the internal revenue service (irs). however, a new player in the compliance landscape requires your attention: fincen—the financial crimes enforcement network.

click here for more art werner

while fincen has long been responsible for monitoring financial activities related to money laundering, organized crime, and terrorism, a new regulation—the corporate transparency act (cta)—has expanded its reach. effective january 1, 2024, this law requires businesses to report beneficial ownership information (boi) to fincen, creating a new compliance responsibility for which tax professionals must be prepared.

related: fincen calls a much needed time out for beneficial ownership information reporting while congress mulls changes “on february 27, 2025, fincen announced that no enforcement actions (read: fines and penalties) would take place for noncompliance with the requirements until at least the u.s. treasury department promulgated new guidance. this announcement was affirmed by treasury on march 2, 2025…”

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charts & graphs

tax pros handle 46% of e-filings

table of tax return data

individual refunds are up 6 percent.

by beth bellor

busy season is rolling along pretty much as usual.

more: 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 feb. 28, the latest data available, the internal revenue service had received 52.4 million individual income tax returns, down 3 percent from the same period in 2024. it had processed 51.8 million returns, down 2.7 percent.
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busy season management

teach time management and tax reviewing

man and woman looking down at document

avoid the dreaded “what’s the status of” questions.

by frank stitely
the relentless cpa

let’s discuss two training issues in detail: teaching time management and teaching review skills.

the biggest training gift that you can give your staff is time management training. you may want to offer formal training, but i have never found one that was really specific to cpa firms and the daily challenges we face.

more by frank stitely
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two time-management skills are at the heart of what cpa firms do. first, teach your staff task switching. by that i mean they shouldn’t get locked in on one type of task to the exclusion of others.
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featured video

ira rosenbloom: m&a money’s easy – culture fit’s hard | the disruptors

progressive firms are the key to the future of the profession.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
sponsored by “holistic guide to wealth management,” by rory henry – see today’s special offer

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the disruptors
with liz farr

the world of m&a is full of disruption, distraction, and disorientation these days, says ira rosenbloom, ceo of optimum strategies. while the headlines focus on private equity’s increasing role in cpa firm acquisitions, two new types of acquirers are playing a bigger role: family offices and wealth management.

more podcasts and videos: roman villard: ditch the suit & shine | monique swansen: align firm values with services | tina mcgill: how to create lasting client impact | stefan van duyvendijk: develop operational mindset | steve evans: why traditional hiring methods fail | roger knecht: can you be an accountrepreneur? | beth whitworth: focus on outcomes not hours |mike sylvester: learn to say no | salim omar: identify your client’s $100,000 problem | jackie meyer: earn more with fewer clients | jack fleherty: don’t be a ‘yes’ person | greg adams: from finance to storytelling | the disruptors | jody padar: make radical changes now if you want to be relevant in 2030 | rebecca driscoll: amplify reach by helping other firm owners | rory henry: create the return on relationships | mike maksymiw: be the leader you wish you had | terrell turner: build a solid business showing up as yourself | kelly mann: be the bull in the china shop | alicia katz pollock: create a human-centric business |  nancy mcclelland: be the one your clients ask first |alan whitman: stop accepting the status quo | sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial |

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these different participants are disrupting “the more traditional marketplace, which for years has been driven by two cpa firms getting together that had a lot in common, except one was larger and the other one was smaller,” says rosenbloom. “i just think that what we’ve seen is there’s not one approach that works for everybody. we’re seeing dimension now. we’re seeing a whole bunch of choices.”

read more →

management

internal communication matters, too

bonus checklist: five questions to evaluate yourself.

by martin bissett
business development on a budget

the passport to partnership study collated a number of responses in a conversational style. several examples really stood out as the first steps in effective communication:

would we put this person in front of a client?

more by martin bissett
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meaning: the clients are our source of income; we don’t jeopardize that for anything. if we think that this person will do anything less than consolidate the perception of the firm and its people in the eyes of the client, we’ll keep them back in the office.
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featured video

steve yoss: up your ai skills | quick tech talks

transform your workday and discover practical ways to save time.

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quick tech talk
with steve yoss
cpe today

generative ai tools are revolutionizing how we approach work, offering practical, efficient, and innovative solutions for professionals across industries. if you haven’t explored tools like openai’s chatgpt or anthropic’s claude, now is the time to dive in. these cutting-edge technologies are as accessible as they are powerful, requiring no special training—just your ability to clearly express your needs.

more steve yoss
more tech
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imagine completing a 10-hour workload in just six hours. that’s the promise of generative ai: helping you work smarter, not harder.

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advisory & consulting

what empowerment should look like … and shouldn’t

man intently listening to woman in office

six skills that an auditor needs.

by alan anderson, cpa
transforming audit for the future

empowerment means that teams feel like they have ownership over the outcome, outputs and the process of what they are doing. they need to feel it’s ok to try doing things differently and even to make a mistake – and learn from it. the quality of everyone’s work improves when they have the confidence to present new ideas, and to push back when they think there’s a better way to do something. and empowerment delivers results – especially when it is partnered with owned accountability.

more by alan anderson
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unfortunately, most of us have a better idea of what an empowered team and empowering managers do not look like than what they do look like. let’s look at a few of the ones you may have seen in your time working.
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listicle

ten things to tell high-income clients | listicle

//www.g005e.com/category/checklist/listicle/by 卡塔尔世界杯常规比赛时间 research

high-income clients have special needs. they want strategic guidance beyond basic compliance and tax preparation.

more listicles here
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for obvious reasons, they deserve the best of care and the utmost attention from their accounting firm. and it’s important to maintain continual contact with these clients. here are 10 things their accountant/tax pro should be discussing with them.
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accounting influencers

randy johnston: ai opportunities and risks | accounting influencers

adopting these tools will define future success.

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accounting influencers
with rob brown

randy johnston, a pioneer in fintech and technology for accounting, shares his insights on the rapid evolution of artificial intelligence by diving deep into its history and future potential. johnston traces ai’s roots back to alan turing’s groundbreaking work in the 1950s and walks listeners through decades of milestones, from the first neural networks to openai’s chatgpt.

highlighting the shift to generative ai, johnston explains how tools like chatgpt leverage vast datasets through large language models (llms) to deliver advanced, nuanced responses. “ai isn’t prescient or conscious,” johnston clarified, “but it’s a significant leap forward in what machines can do.”

read more →

politics & government

is voluntary disclosure of tax noncompliance working?

maybe a better question: is the irs trying to make it not work?

by 卡塔尔世界杯常规比赛时间 research

for more than two decades, the irs has been allowing tax dodgers to admit their delinquency and pay their back taxes, interest and penalties without fear of criminal prosecution. reaping the revenues was preferred over locking people up.

but times have changed.

more: 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 | steve yoss: unlocking business insight with power bis | quick tax tip | more than 1 million erc claims still not processed | art werner: the godfather and tax issues | quick tax tip
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this act of grace is called the voluntary disclosure practice (vdp). the purpose is to induce the intentionally noncompliant to come forth with what they owe and come back into the fold of patriots who support their nation. in essence, the vdp is an escape hatch out of the crime of tax evasion.
read more →