irs taxpayer advocate questions preparation of tax preparers

three big issues: code, cooperation, competence.

table shows reduction in irs geographic presence and employees since 2011.

 

by rick telberg
卡塔尔世界杯常规比赛时间

national taxpayer advocate nina olson, who heads the taxpayer advocate service, is citing three broad areas that congress should deal with if it hopes to avoid revenue catastrophe at the internal revenue service.

related: future state or future shock? irs watchdog warns of dubious irs plans

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the three main issues are: read more →

future state or future shock? irs watchdog warns of dubious irs plans

questionable solution: irs outsourcing taxpayer communication.

 

by rick telberg
卡塔尔世界杯常规比赛时间

a few years ago the internal revenue service launched a belt-tightening overhaul it called the future state.

the changes were devised with good intentions. the service wanted to deal with taxpayers more through the internet and less over the phone or in person. it would also expect taxpayers to hire outside tax specialists to give them advice that the irs had once offered as a free service.

ideally, all of this would reduce the cost of collecting taxes. but the taxpayer advocate service soon warned that the changes would lead to more aggravation and less goodwill among taxpayers. less goodwill, the tas said, could lead to less compliance, which translates into less revenue to the united states treasury.

the irs heard the warnings and initiated a country-wide series of forums and a website dedicated to explaining the future state plan. irs representatives even went before congress to explain that the service was not eliminating all phone or personal contact with taxpayers.

national taxpayer advocate nina olson, who heads the tas, commended the irs on these outreach efforts, but she felt that the real problems had not been addressed. the plan failed to consider and incorporate the needs and preferences of people who are expected to voluntarily comply with their tax obligations, i.e., american taxpayers.

read more →

tax season productivity hacks

five good habits for getting things done.

the best time management tips:
join the survey, get the answers

by salim omar

tax time is widely considered the “busy season” for practitioners, but it doesn’t have to mean chaos and misery. a well-managed firm allows its owner to conduct business and live life at a reasonable pace no matter what the season.

more on productivity: does busyness really mean productivity?  | how many hours should accounting staff work?  |  when everything takes too long  | new lessons in time management
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by employing a few clever and surprisingly simple productivity hacks, you, too, can have a better tax time experience beginning this very season. put these new habits to work for you now: read more →

the economy’s biggest winners & losers from immigration

cpa firms with clients in coastal and southern border states may be most vulnerable to loss of immigrant economic activity.

economic impact of immigration, ranked by state. source: wallethub

by 卡塔尔世界杯常规比赛时间 research

if there’s ever any massive curtailment of immigration into the united states, cpa firms in states along ocean coasts and in major metro markets may be the most vulnerable to losing prospective clients and future job candidates.

a new study of demographic trends nationwide finds that immigrants play an especially key role in economic growth on both coasts with california, new jersey, florida, new york and hawaii, ranking as the states with highest percentages of jobs created by immigrant-owned businesses.

the study, conducted by the personal finance advisory web site wallethub , further finds that california, new jersey, new york, delaware and massachusetts are where foreign-born people hold the greatest percentages of jobs in the fast growth technology science, technology and engineering fields.

meanwhile, new jersey, along with the district of columbia and its neighbors virginia and maryland, are where households headed by immigrants have the highest incomes.

read more →

survey results: who’s afraid of busy season 2017?

卡塔尔世界杯常规比赛时间 research projects shake-out of weaker firms.

join the survey. get the results.

by rick telberg
卡塔尔世界杯常规比赛时间

the difference between the potential winners and losers this busy season could hardly be more stark, according to a 卡塔尔世界杯常规比赛时间 analysis of the annual busy season outlook tracking survey.

while some 56 percent of accountants so far say they’re looking at a “better” or “much better” busy season this year than last year, a distinct minority of about 16 percent is bracing for problems, trouble and setbacks.

more on busy season:  bullish on busy season 2017  |  46 avoidable tax-filing errors – if clients only knew  |  tax prep gets off to strong start  |  sample fee schedule for 1040s  |  tax filings down, but irs blames the calendar  |  survey results: busy season 2017 gets off to strong start   |   2017 fee survey: price for non-itemized 1040s advances 6% to $176   |   the annual tax meeting is dead. clients killed it.   |   reader sound-off: mandatory saturdays stir controversy    |   tax season opportunity kit free instant download   |   world envies low u.s. tax rates on luxury real estate transfers   |   the new small-business loophole you can drive a truck through

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the annual survey tracks the attitudes, behaviors and benchmarks of tax and accounting professionals throughout the season, providing real-time metrics and trends by which practitioners can chart and steer their business plans. the survey remains open throughout the season, as an invitation to professionals to participate regularly. as a reward for joining the survey, participants are provided the first look at new topline findings. join the survey; get the results.

in examining some of their other responses, the reasons emerge with clarity. for instance, those expecting a “worse” year, are three times more likely than those expecting  “better” season to cite the “general economic situation” as a chief concern, twice more likely to blame “competition from others,” a third more likely to report “technology or software problems, and a quarter more likely to be having problems with “new accounting and auditing” and staffing” issues. those issues cut to the heart of fundamental and basic operations. read more →

survey results: bullish on busy season 2017

busy season bulls outnumber bears three to one. via 卡塔尔世界杯常规比赛时间 research

profession plows ahead with high hopes.

how’s your busy season so far?
join the survey; get the results.

by rick telberg
卡塔尔世界杯常规比赛时间 research

if expectations pan out, busy season 2017 might be a banner year, according to the first soundings from the 18th annual 卡塔尔世界杯常规比赛时间 busy season barometer. there’s optimism in the air.

a full fifth of respondents tell us they foresee a busy season “much better” than last year’s. and more than a third—36 percent—believe their season will be at least “somewhat better.” together these optimists make up 56 percent of respondents, more than three times the number who are dreading a tougher slog than last year.

more busy season: tax prep gets off to strong start  |  sample fee schedule for 1040s  |   tax filings down, but irs blames the calendar  |   survey results: busy season 2017 gets off to strong start   |   2017 fee survey: price for non-itemized 1040s advances 6% to $176   |   the annual tax meeting is dead. clients killed it.   |   reader sound-off: mandatory saturdays stir controversy    |   tax season opportunity kit free instant download   |   world envies low u.s. tax rates on luxury real estate transfers   |   the new small-business loophole you can drive a truck through

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granted, that number isn’t as high as 2016’s, when 61% reported improvements over 2015, but 2015 was the infamous annus horribilis, the year of tax prep hell. it wasn’t hard to imagine the next year being better. so 2016 wasn’t so bad, making it surprising that so many see 2017 turning out even better. three upbeat respondents typify the three main causes of optimism.

read more →

survey results: busy season 2017 gets off to strong start

join the survey. get the results.

i.d. theft and security issues emerge as top concern.

how’s busy season so far?
join the survey and get the latest updates

by rick telberg
卡塔尔世界杯常规比赛时间

tax and accounting professionals are kicking off busy season 2017 with the highest confidence levels in years, but their optimism seems guarded and unsure, according to the latest results from the 卡塔尔世界杯常规比赛时间 busy season barometer.

see the charts below for additional detail. and stay tuned as the busy season unfolds. join the survey to get the latest updates.

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so far, the survey shows that more than 58% of tax and accounting professionals expect a better season this year than in 2016, which, by comparison, was 61% cheerier than 2015.

read more →

2017 fee survey: price for non-itemized 1040s advances 6% to $176

national average fees for itemized form 1040 with schedule a and a state tax return. source: nsa

but some other prices are down.

next question: who’s succeeding with value pricing? 
join the survey; get the answer.

by 卡塔尔世界杯常规比赛时间

the average fee for a professional to prepare and submit a form 1040 and state return with no itemized deductions will be $176 this year, according to a biennial survey conducted by the national society of accountants. the figure represents a gain of about 16 percent since the last survey in 2015.

more on pricing, fees & billing rates:  why offering packages can catapult your revenue  |  new survey finds widespread rate hikes in tax & accounting firms  |  client retention drives today’s pricing strategies  |  chaos in tax & accounting pricing  | tax & accounting firms wrestle fewer price increases from clients

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compared to two years ago, some prices rose and others dropped – a clear signal of volatility and pressure in the market. surveyed firms expected to increase their accounting service fees by an average of 6.1% in 2017, up from an actual increase of 5.3% in 2016.

read more →

ge outsources tax department to pwc

big four firm finds new growth in acquiring clients’ tax and accounting departments.

by 卡塔尔世界杯常规比赛时间 research

ge is hiving off its tax group to pwc to become pwc’s new global enterprise tax solutions team. their first client: ge.

pwc calls the move “an innovative agreement with ge to provide integrated, enterprise managed tax services to ge on a global basis.” as part of the deal, pwc is hiring more than 600 of ge’s tax team members from around the world and acquiring ge’s tax technologies to bolster both pwc’s focus on the “tax function of the future” and to provide global enterprise tax solutions to clients. it may be a sign of things to come. read more →

thought leader symposium invites 卡塔尔世界杯常规比赛时间 ceo

卡塔尔世界杯常规比赛时间’ founder and ceo rick telberg is joining some of the most respected and influential leaders in the accounting profession in indianapolis for this year’s thought leader symposium hosted by cpa practice advisor.

the annual event gathers 30 thought leaders together to discuss emerging trends, technologies and workflow practices that will influence the profession, professionals, and clients in the years to come.

“this exclusive event provides a unique opportunity for key members of the accounting profession who are taking the reins and moving the profession forward to share ideas and insights, consider changes and trends in the profession, and discover new and innovative ways in which they can work together to education and improve the profession as a whole,” said gail perry, editor-in-chief of cpa practice advisor and facilitator of the event. read more →

immigrants: surging market for tax & accounting services

percentage of u.s. self-employed born abroad reaches 19.5 percent. source: us sba

newcomers drive the nation’s solopreneur sector.

by rick telberg
卡塔尔世界杯常规比赛时间

nothing says american like entrepreneurship. no nation offers such fertile soil for the seeds of business. and small businesses are the underlying energy of the american economy. fed by inspiration, elbow grease, and gumption, they account for a disproportionate amount of the nation’s jobs, mobility, and innovation. when small businesses thrive, everybody thrives.

three new reports on entrepreneurship from the u.s. small business administration offer insights that may be of interest to cpa practices. each report looks at one of three groups that are in the news every day: millennials, seniors, and immigrants.

it may surprise many that the educated, tech-savvy millennials are increasingly less likely to start their own businesses.

read more →

survey: accountants’ best advice for president trump

budaj

‘don’t screw this up.’

by rick telberg
卡塔尔世界杯常规比赛时间

suppose you could have president donald trump’s ear for just five minutes—just the two of you in the oval office, and him eager to hear and heed your advice…

what would you tell him?

floridian deborah budaj says, “i would discuss the timeline and plans for removing the burden of obamacare from businesses, and also from individual healthcare plans.”

martin j. rooney would like to see some assistance for the hoi poloi: “we need to find meaningful work for the non-college educated people.  it may require some form of government subsidy and hence taxes may need to rise, but without work, the forgotten people have no hope. they are not participating in the u.s. dream.”

rooney

related:  why accountants voted the way they did  |  accountants see better business outlook following presidential election

on the off-chance that he might call in a cpa for some pragmatic and unbiased counsel, 卡塔尔世界杯常规比赛时间 asked just such a question in our survey on the presidential election of 2016. as it turns out, cpas are prepared for their summons to the oval office. they have opinions. they know what needs to be done. they aren’t necessarily in agreement, but if duty calls, over 1,000 卡塔尔世界杯常规比赛时间 members are prepared to proffer presidential pointers.

there is, of course, no shortage of snide advice.

read more →