tax

what’s the irs hiding?

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a lot. it’s bad and getting worse.

by 卡塔尔世界杯常规比赛时间

taxpayers and their tax preparers have a right to be informed about what’s happening at the internal revenue service. it’s the law, duly legislated and mandated by the u.s. congress in the taxpayer bill of rights.

but that doesn’t mean it actually happens.

more: irs at death’s door? | beyond tax prep: the big cha-ching! | crisis at the irs | the irs’s 10 biggest problems | fear and loathing for tax season ’22 |  padar joins vc-backed tax fintech for banks |  covid chokes an already crippled irs | tax regs for the metaverse | 10 steps to a superior tax department | accountants critical of competitor price-cutting |  automate busy season with apps you already use | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | busy season forecast: more chaos  | a woman named wanda leaves an ira nightmare  | are you under-pricing your client accounting services?  | your best advice: get smart, get tech, get moving | worries for small business clients |

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the irs has never been especially good at providing information. taxpayers have a hard time finding out:

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when tax collectors go digital

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…where will you hide?

collecting taxes upfront: in mexico, tax returns, accounting records, and other tax disclosures must be filed in standard electronic format, driving down the cost of tax collection by 57 percent between 2006 and 2018. meanwhile, revenue generated by audits rose an astonishing 117 percent between 2015 and 2020. (source: better than cash alliance, the u.n., via avalara)

by 卡塔尔世界杯常规比赛时间

accounting professionals may be focused for now on tax season 2022. but right around the corner, a revolution in tax is coming, if the united states can get out of its own way.

ready or not, here it comes: digitized sales tax compliance. the compliance might happen immediately after a transaction or right in the middle of it with a tax agency in between the buyer and the seller.

more: brain drain hobbles irs | crisis at the irs | the irs’s 10 biggest problems | fear and loathing for tax season ’22 |  padar joins vc-backed tax fintech for banks |  covid chokes an already crippled irs | tax regs for the metaverse | 10 steps to a superior tax department | accountants critical of competitor price-cutting |  automate busy season with apps you already use | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | busy season forecast: more chaos  | a woman named wanda leaves an ira nightmare  | are you under-pricing your client accounting services?  | your best advice: get smart, get tech, get moving | worries for small business clients |

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it isn’t happening in the u.s. yet, but at least three states are thinking about it, and in 83 other countries, it’s already a thing. in california, florida, and massachusetts, it may soon be a thing. the federal reserve and the business payments coalition have already launched a pilot program to standardize electronic invoicing systems.

digitized tax compliance is far more than the mere e-filing of invoices and tax returns. it’s the movement of paper compliance activities to the cloud, where tax authorities can not only see transactions but, in some countries, actually, get involved in them.

the potential opportunities for accountants, auditors, and tax practitioners are as yet unknown, but where there is change, there is opportunity.

also, danger. read more →

is this how the irs dies?

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irs, losing staff it can’t replace, slides further into chaos and oblivion.

sound-off: how would you fix the irs?
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间

internal revenue service employees are resigning and retiring in droves, leaving the agency increasingly powerless to fulfill its mandate as the nation’s tax collector.

more: crisis at the irs | the irs’s 10 biggest problems | fear and loathing for tax season ’22 |  padar joins vc-backed tax fintech for banks |  covid chokes an already crippled irs | tax regs for the metaverse | 10 steps to a superior tax department | accountants critical of competitor price-cutting |  automate busy season with apps you already use | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | busy season forecast: more chaos  | a woman named wanda leaves an ira nightmare  | are you under-pricing your client accounting services?  | your best advice: get smart, get tech, get moving | worries for small business clients |

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like every other problem the irs has, inadequate staffing is fundamentally caused by inadequate funding. as the irs budget declined by 20 percent between 2010 and 2021, staffing declined by about the same percentage, dropping from 94,711 full-time positions to just 75,773. meanwhile, of course, the number of taxpayers increased.

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beyond tax prep: the big cha-ching!

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five reasons business clients are ready for tax advisory services.

credit for data: intuit

by 卡塔尔世界杯常规比赛时间

question: if half your tax clients were buying planning or advisory services for five times what they’re paying for tax prep, what would that add up to?

answer: a big cha-ching!

more on tax season: crisis at the irs | the irs’s 10 biggest problems. here are just the first five. | fear and loathing for tax season ’22 |  padar joins vc-backed tax fintech for banks |  covid chokes an already crippled irs | tax regs for the metaverse | 10 steps to a superior tax department | accountants critical of competitor price-cutting |  automate busy season with apps you already use | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | busy season forecast: more chaos  | a woman named wanda leaves an ira nightmare  | are you under-pricing your client accounting services?  | your best advice: get smart, get tech, get moving | worries for small business clients |

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this may be the season for tax filing, but accountants failing to leverage prep into planning and advisory are missing out on a lot of potential revenue.

the average annual fee for tax planning and advisory services is $2,351—five times the average annual tax prep fee of $459, according to a new study. read more →

crisis at the irs

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sound-off: how would accountants fix the irs? join the survey. get the results.

by 卡塔尔世界杯常规比赛时间

tax preparers and taxpayers aren’t the only ones with tax problems. the irs has problems, too.

ten of those problems have been laid out in an annual report to congress from the taxpayer advocate service.

how to save the irs?
make your voice heard:
join the survey. get the results.

we covered the top five here. and here are the next five explained. read more →

the irs’s 10 biggest problems

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here are just the first five.

by 卡塔尔世界杯常规比赛时间 research

america’s taxpayer advocate service—an independent watchdog agency within the irs—has identified the ten most serious problems at the irs.

get the outlook for busy season 2022
bonus question: how to save the irs?
make your voice heard:
join the survey. get the results.
full results are available for participants and pro members.

more: fear and loathing for tax season ’22 |  padar joins vc-backed tax fintech for banks |  covid chokes an already crippled irs | tax regs for the metaverse | 10 steps to a superior tax department | accountants critical of competitor price-cutting |  automate busy season with apps you already use | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | busy season forecast: more chaos  | a woman named wanda leaves an ira nightmare  | are you under-pricing your client accounting services?  | your best advice: get smart, get tech, get moving | worries for small business clients |

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by “problems,” the tas means the difference between what taxpayers want and what the irs delivers. unfortunately, tax preparers trying to bridge the gap between the two often end up taking grief for failing to do the impossible.

understanding the problems at the irs end can help practitioners explain the situation. here are the top five: read more →

fear and loathing for tax season ’22

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most tax and accounting practitioners see a bleak outlook ahead.

by 卡塔尔世界杯常规比赛时间 research

tax and accounting professionals are launching into busy season 2022 with widespread fears of crisis and chaos, facing a third year of pandemic conditions, the staffing shortage, a sputtering irs, and political and economic uncertainties.

the outlook for busy season 2022?
join the survey. get the results.

full results available for participants and pro members

a majority of accountants are telling the 卡塔尔世界杯常规比赛时间 busy season barometer that they are expecting an even worse year than last year, with 40 percent bracing for “somewhat” worse and 11 percent girding for “much “worse.

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padar joins vc-backed tax fintech for banks

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padar

april tax solutions targets banks and financial institutions.

jody padar, cpa, also known as “the radical cpa,” has exited botkeeper after three years and joined april tax solutions, inc., a start-up that uses an intelligent tax platform to automate the filing process and embed tax prep into broader financial applications.

padar is head of tax and evangelism. april is backed by $10 million in seed capital from a number of venture capital funds.

“it’s time to bring taxes into the digital age,” says padar. “i’m excited to lead the charge and help the next generation of consumers and accounting professionals have a better relationship with tax filings.”

april says it partners directly with banks and financial institutions to do away with the silos traditionally existing between tax and financial planning. the company is rolling out in the first half of 2022 to select customers of leading fintech partners in time to file their taxes for this season.

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covid chokes an already crippled irs

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can busy season get any worse? we’re about to find out.

irs workloads up, budgets down
irs workloads up, budgets down

by 卡塔尔世界杯常规比赛时间

the year 2021 gave tax preparers and taxpayers one big mutual hope — the hope that such a year never happens again.

more for tax season 2022: eight ways to charm a client | prepping for tax season: plug small leaks before they become big floods | four issues with ‘quick’ tax questions | updated: accountants critical of competitor price-cutting | when to pick up the phone this tax season | get your team ready for tax season | automate busy season with apps you already use | these five procedures will simplify your tax season | 11 steps to better client tax instructions | 12 ways to squeeze fun into tax season | six ways to get paid faster | survey: worries for small business clients | busy season forecast: more chaos |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

and just in case congress didn’t get the message, national tax advocate erin m. collins submitted to that august body an annual report that pulled no punches and spared no explication. the new filing season starting jan. 24 could bring hitherto unbelievable problems.

the situation, she said, was dire. read more →

eight ways to charm a client

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we get measured on the small things – the good and the bad.

by ed mendlowitz
tax season opportunity guide

clients are our customers. they pay our salary and enable us to make good livings.

more: thorough vs. sloppy: is everyone on the same page? | four issues with ‘quick’ tax questions | 11 steps to better client tax instructions
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do what you can to accommodate them and make them feel important – as important as they believe they are. read more →

prepping for tax season: plug small leaks before they become big floods

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tiny businessman standing on dripping faucet5 key points to keep in mind.

by ed mendlowitz
tax season opportunity guide

some people are micromanagers and anal with details. others are big-picture managers, letting details take care of themselves. neither is completely effective and both disciplines need to be balanced.

more: thorough vs. sloppy: is everyone on the same page? | four issues with ‘quick’ tax questions | when to pick up the phone this tax season | these five procedures will simplify your tax season | 11 steps to better client tax instructions | get your team ready for tax season | 12 ways to squeeze fun into tax season | 6 ways to get paid faster in tax season
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

there is a time for details and a time for big-picture thinking. when setting up procedures and processes it is essential that all details be considered and planned for.  read more →

you’re only as good as your last screw-up

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businessmen miserable over errorprepping for tax season: clients notice the little things.

by ed mendlowitz
tax season opportunity guide

don’t be sloppy. it gets noticed.

more: four issues with ‘quick’ tax questions | when to pick up the phone this tax season | these five procedures will simplify your tax season | 11 steps to better client tax instructions
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sloppy work is always evident and usually incomplete. thorough work is careful and usually complete.

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four issues with ‘quick’ tax questions

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businessman is dialing phone for advicesometimes things aren’t so simple.

by ed mendlowitz
tax season opportunity guide

i keep a few of the one-volume tax guides in my office so i could look up a quick answer when i need to. recently a golf buddy emailed me a question that i thought i could answer quickly. he wanted to know that if he was in the “zero” percent capital gains tax bracket, did that apply to an unlimited amount of capital gains? sounds like a simple question.

more: when to pick up the phone this tax season | these five procedures will simplify your tax season | 11 steps to better client tax instructions | get your team ready for tax season | 12 ways to squeeze fun into tax season
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

well i looked it up online and then in three one-volume tax guides. only one source had thorough coverage of the issue. i ended up spending an hour on this “simple” question including my emailed response. nothing is simple anymore.
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