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How Did You Survive Tax Season?


Accountant-focused cloud hosting service Right Networks took the time to seek responses from predominantly small firms about how this year affected their practices, their clients and overall expectations going in and coming out of this tax season. The survey is still going on, but here are some top line findings as of this writing.

Nov 3rd 2020
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After what was clearly the longest tax season on record, due in large part to the impact of COVID on filing deadlines and life in general, some practitioners fared better than others. Even before COVID was in tax professionals’ scope, many were able to have tools and processes in place to weather the unforeseen despite unprecedented client concerns and shifting filing deadlines.

According to the recent survey work, the biggest concerns going into this busy season was keeping clients and staff updated about tax law changes (75 percent) and overall quality control (65 percent). But, after COVID hit, and October 15 passed, practitioners found they struggled most with adapting to businesses changes (65 percent) and monitoring and adapting to changes in government programs (PPP, EIDL, etc.).

Tax pros had a variety of non-COVID related regrets leading up to tax season that would have helped them prepare better. Among the top regrets, they wished they held more pre-emptive client meetings to work on projections (30 percent) or better optimized their workflows (28 percent) through workflow-specific or practice management tools.

There will be more results to come. In the meantime, if you want to participate and share your views in this past season and have a chance to win one of three Visa gift cards, take the short survey NOW.

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