outlook & analysis

irs undertakes overhaul

by

rettig

including a 6-point strategic plan.

by 卡塔尔世界杯常规比赛时间 research

chuck rettig has been commissioner of the internal revenue service for just over a year, but he has behind him 36 years of experience as a tax professional.

more: should the irs go down in history? | 5 easy ways that congress could fix tax collection | 4 ways to fix irs collections | 3 ways to improve irs levies | how the irs abuses ‘math errors’ | taxpayers deserve better receipts | troubles with irs private debt collection | what difference does one word make?
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that experience includes the experience of trying to get answers out of the irs, waiting on hold, struggling to make sense of tens of thousands of pages of tax rules and rulings, and dealing with mid-season pronouncements. he knows how it is.
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2020 outlook: talent shortage drags on

by

what it takes to prosper.

by august j. aquila

the last of the baby boomers are retiring in large numbers this year. they had a long run at managing firms, but their time is now up.

more: 6 action steps for a smooth retirement transition | 7 succession planning best practices | grissom and aquila on partner performance evaluations | gross profit in a professional services firm: opening a dialogue | checklist: 18 essential steps to effective billing
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i’m still seeing a lot of them trying to hold on and control things well into their 70s. i advise them to transfer equity while they are on the top of their game and not when they and the firm are declining. while many take this advice, those who don’t aren’t sure what they will do once they retire. i usually work out a retirement game plan for them.
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2020 outlook: demand is high

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ai, blockchain most likely to impact largest firms.

by chris frederiksen

what do i see for 2020?

cybersecurity: there is a heightened awareness around protecting client data and protecting firms from what appear to be increased incidents of hacking. firms are encouraged to move from in-house servers to entirely cloud-based solutions.

more: 2020 outlook: business development goes borderless | data import on the rise | becoming the most valuable advisor | top three tips for 2020 success | where do you want to be? | dicey disruptions | upstream mergers | 2020 outlook: staffing gets creative
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tax season: most of the firms i work with reported last year as the most brutal tax season on record. this was caused by lack of human resources – especially for firms that still had not adopted outsourcing – coupled with the need to spend extra time to comply with the new tax rules and to explain the changes to clients.
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