covid woes<\/strong><\/p>\n

the most common concern of contributing respondents is late or unprepared clients, indicated by 61 percent. tardy clients have always been a problem, but now the delays are being aggravated by the pandemic complications.<\/p>\n

<\/p>\n

fifty-three percent finger the irs as a chief concern, probably due to the service being shut down for several weeks and still trying to operate mostly remotely. and despite covid, of course, budgetary problems are cutting back the service in the service.<\/p>\n

grappling with changes to the tax code, including the hastily arranged ppp, eidl, etc., is almost as prevalent, making life worse for 47 percent of barometer respondents.<\/p>\n

other prominent probs: the general economic situation (40 percent), staffing issues (29 percent), and office workflows (29 percent), all caused to some extent by the need to reinvent the office.<\/p>\n

benchmarks a bit better<\/strong><\/p>\n

though everybody has spent most of the year climbing up the learning curve, the bottom-line numbers don\u2019t look so bad. forty-six percent actually are seeing an expansion of clientele, and a surprising 36 percent see no change. only five percent are suffering a significant decrease.<\/p>\n

<\/p>\n

revenue follows suit, with 38 percent seeing bumps of up to ten percent, and another 16 percent raking in double-digit increases.<\/p>\n

net profit looks pretty good, too, with 52 percent pocketing more than last year. still, with 22 percent experiencing some degree of profit decline, the industry is less than rosy overall.
\nthe number of clients on extension is soaring despite the extended mid-summer deadline. thirty percent of respondents see no change from last year, but 26 percent see some increase, and another 22 percent see a significant increase.<\/p>\n

respondents give plenty of reasons for changes in the wrong direction.<\/p>\n