tax season

marchternity: just say ‘no’

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whether marchternity continues depends entirely upon you.

more on marchternity:
the solution is community, by liz farr

by seth fineberg
at large

after nearly three years of what many tax pros consider one of the longest tax seasons on record –- a.k.a. ‘marchternity’ –- one would think this season would be different.

more fineberg: what bogs down accountants | your classic business model won’t allow growth

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to be sure, plenty of tax practitioners in late 2022 did indeed call the end of marchternity and look forward to some sense of normalcy, as much of what caused the extended tax season in the first place appears to have subsided. so, do tax pros expect this season to be different?

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don’t let clients dictate tax workflow

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//www.g005e.com/2014/02/02/marcus-metrics/ask the right questions and stick to your processes.

by frank stitely
the relentless cpa

who makes the errors in your firm? staff obviously, but that’s half of the answer. clients are a major source of tax return errors. clients cause errors in three ways:

  1. errors of omission
  2. errors of commission
  3. errors in attitude

more: make fewer mistakes, increase revenue and capacity | how small firms can win the talent wars | easy ways to avoid ‘done but’ tax returns | six ways to create a millennial-friendly firm | do you know your turnaround time?
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every tax season, we finalize and deliver returns only to hear from the client, “i think i might have forgotten to tell you that we had a baby last year.” does this happen to you? this is a client error of omission. unintentionally, clients withhold important information.
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marchternity: the solution is community

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before another grueling tax season, find your tribe.

more on marchternity:
just say ‘no,’ by seth fineberg

by liz farr

the last several years have been rough on accountants, to say the least.

i left public accounting at the end of 2017, so i have been spared the never-ending chaos of the last five years, starting with the last-minute sweeping changes of the tcja, and continuing on through the pandemic. however, thanks to social media groups like #taxtwitter and accounting firm influencers on facebook, i’ve had an idea of the misery, confusion, exhaustion, and sheer frustration of tax pros trying to maintain sanity in the face of complete insanity.

more liz farr: donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

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in 2020, adam markowitz, a razor-sharp ea and active member of the #taxtwitter community, coined the term marchternity, for the month of the 2020 tax season that never seemed to end. ultimately, thanks to the mad coding skills of chris hervochon, the marchternity bot was born, providing “daily updates on what day of marchternity it is because march 2020 will never end.”

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why the irs is still doing data entry by hand

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young businessman sleeping on the keyboard in the officefive recommendations are offered to improve processing. start with scanners.

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by 卡塔尔世界杯常规比赛时间 research

here’s something you’d better explain to your tax clients, lest you get blamed:

more: news on irs is maybe sort of a little bit good | why we all hate the tax code | how bullish are you this tax season? | accountants’ top problems for tax season 2023 | tax season 2023: better or worse?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

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three ways to improve tax returns

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think “quality control,” not “review.”

by ed mendlowitz
how to review tax returns: the field-tested update

it occurs to me that there is a difference in the quality between the returns someone does for himself or herself and the returns they do for their clients.

more: tax follow-up worksheets can mean more revenue | tax: the procedural checklists your firm needs | don’t use eyes, use brain | stop tax return review shortcuts | the best way to review a tax return | three types of tax return reviews | routine is key to reviewing tax returns | why you can’t skip checklists | tax review procedures are your quality control | seven types of tax return reviews | how to turn tax returns into new business
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an informal survey by me showed that the percentage of returns with errors of sole practitioners and partners in cpa firms is less than 2 percent, while the percentage of errors by their staff ranges from a low of 25 percent to a high of 95 percent! why the difference? note that preparer errors are measured by the completed returns they submit for review. and sole practitioner and partner errors are measured by whether a notice was sent by a tax agency or an error is discovered when the following year’s return is being prepared.
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