charts & graphs

accountants raise alarms on small business outlook

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the avalara accountants confidence report points to difficulties ahead for small businesses to access capital, increase profits, raise revenues, hire new employees, and control costs.

looking ahead 12-18 months, accountants expect increasingly acute hardships, led by problems in accessing fresh capital, hiring, and managing labor costs. but new technology and automation could help cushion the pain for some.
https://cpa.click/smb23outlook
click to download(pdf 19 pages)

avalara, inc., a leading provider of cloud-based tax compliance automation for businesses of all sizes, released a new survey of over 500 main street accountants representing more than 100,000 small businesses.

survey responses revealed that looming economic headwinds could create challenges for small businesses in the next 12–18 months. the survey, conducted during the 2023 tax season, shows that accountants believe small businesses will face challenges in accessing fresh capital, increasing profits, managing payroll costs, weathering supply chain difficulties, and hiring new staff.

get the instant download here:
the avalara accountants confidence report

the 2023 avalara accountants confidence report, produced in conjunction with 卡塔尔世界杯常规比赛时间, queried trusted advisors with clear insights into the financial health of small business clients. the report measures accountants’ attitudes and outlook on a variety of pressing issues, leading with sentiment on the health of small business clients, and providing a read on the national economy and the state of smaller accounting practices. accountants were surveyed as they combed through business clients’ financials and prepared their tax returns.

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pros end tax season filing 53% of returns

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in sheer numbers, they fared the same as last year.

by beth bellor
卡塔尔世界杯常规比赛时间 research

the april 18 deadline for individual income tax returns came and went, leaving a scattering of negative figures in its wake. the largest ones had dollar signs attached: average refunds down nearly 9 percent, total refunds down 11 percent.

more:tax refunds down 8 percent|pros filing 54% of individual tax returns|average tax refunds down 10%|tax pro e-filings up 3%|pros handle 45% of income tax returns|only 39% of tax returns filed by pros|tax season opens with refunds up 85%
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the internal revenue service received 137.1 million returns, down 1.3 percent from 2022, according to data released for the week ending april 21. it processed 134.7 million returns, up 0.7 percent – the only positive in our report.
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tax refunds down 8 percent

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table of irs weekly tax season datapros handle 55 percent of e-filings.

by beth bellor
卡塔尔世界杯常规比赛时间 research

the internal revenue service has a little less to do than usual.

more:pros filing 54% of individual tax returns|average tax refunds down 10%|tax pro e-filings up 3%|pros handle 45% of income tax returns|irs processing returns as fast as it gets them|only 39% of tax returns filed by pros|tax season opens with refunds up 85%
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

with four days left in the season – as of april 14, the latest data available – the agency has received 117.3 million individual income tax returns, down 4.3 percent from the same period in 2022. it has processed116.2 million returns, down 2.2 percent.
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pros filing 54% of individual tax returns

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data tabletotal refunds down 10 percent.

by beth bellor
卡塔尔世界杯常规比赛时间 research

with 11 days to go in the tax season, the internal revenue service was seeing red. only two of its weekly data points were on the plus side, and those at less than 1 percent.

more:average tax refunds down 10%|tax pro e-filings up 3%|pros handle 45% of income tax returns|irs processing returns as fast as it gets them|only 39% of tax returns filed by pros|tax season opens with refunds up 85%
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

the irs received 101.3 million individual income tax returns as of april 7, the latest data available. that’s down 1.9 percent from the same period in 2022.
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average tax refunds down 10%

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table of irs weekly datareturns by tax pros are one of the only positives.

by beth bellor
卡塔尔世界杯常规比赛时间 research

the average tax refund is down 10 percent, but it’s just part of a pattern. virtually every piece of data the internal revenue service reports weekly is in the red.

more:irs has big plans for its $80 billion|tax pro e-filings up 3%|pros handle 45% of income tax returns|can’t irs tax pro accounts do more?|hello? irs? anybody home?|taxpayer assistance centers need upgrade
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

the agency has received 90.1 million individual income tax returns as of march 31, the latest information available, down 1.3 percent from the same period in 2022. it has processed 89.7 million returns, up 0.4 percent.
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tax pros e-file 52% of returns

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table of irs datarefunds are in the red.

by beth bellor
卡塔尔世界杯常规比赛时间 research

this tax season looks a lot like the last, at least from the viewpoint of the internal revenue service, which is eyeing roughly the same workload.

more:can’t irs tax pro accounts do more?|hello? irs? anybody home?|taxpayer assistance centers need upgrade|on business outlook, cpas are confident … and concerned|at the irs, short on staff means short on service|tax pros offer advice for small businesses
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

as of march 24, the latest data available, the agency has received 80.7 million returns, down 0.8 percent from the same period in 2022. it has processed 80.4 million returns, up 1.9 percent.
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tax pro e-filings up 3%

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data tableaverage refunds are down by double digits.

by beth bellor
卡塔尔世界杯常规比赛时间 research

more people have gotten tax refunds in 2023, but fewer dollars have gone out. this is as the irs kicks back refunds nearly as fast as it receives returns.

more:pros handle 45% of income tax returns|irs processing returns as fast as it gets them|only 39% of tax returns filed by pros|tax season opens with refunds up 85%
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

as of march 10, the latest data available, the irs had received 63.4 million individual income tax returns, down 0.1 percent from the same period in 2022. it had processed 63.2 million returns, up 2 percent, for an impressive 99.6 percent completion rate.read more →

pros handle 45% of income tax returns

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data tablerefunds down by double digits.

by beth bellor
卡塔尔世界杯常规比赛时间 research

tax season 2023 has been consistent. refunds are down, and so are self-prepared filings andirs.govvisits. by every other marker, though, business is as usual or better.

more:on business outlook, cpas are confident … and concerned|at the irs, short on staff means short on service|more cpas see worsening economy|marchternity: the solution is community|
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

as of feb. 24, the latest data available, the irs had received 46 million individual income tax returns, up 1.3 percent from the same period in 2022. it had processed 45.7 million returns, up 4.3 percent.

we always like to see processing go quickly, and the agency is speeding through returns right now at a clip of 99.4 percent.

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