The results are in! Learn what accounting professionals thought of 2020s extended tax season.
Tax season 2020 feels like it just ended, and accounting professionals are already gearing up for another record-breaking busy season.
Only this time, they may not have the "luxury" of a nationwide deadline extension.
So, what can firms do to prepare to...prepare?
We asked people of various backgrounds at accounting firms—from sole proprietors to partners at firms to staff accountants—what they did to make it through tax season in 2020. A few trends stood out.
Download our new eBook, "Accounting Firms Post-Tax Season 2020 Survey: More work, less staff, new worries.", to learn what these trends were, as well as:
- What firms did to prepare for tax season 2020 (and how that all went out the proverbial window)
- Which technology was used to make remote access to firms' confidential information safer
- What firms are anticipating will be the biggest challenge this tax season
Excerpt of eBook:
The tax deadline for individual filers was still April 15. Offices everywhere were open. There was no such thing as a PPP loan. The local restaurant still welcomed everybody in the office for the occasional lunch or a few drinks after work. Everybody knows what happened a couple of months later: COVID-19 changed everything.
Accounting firms changed, too. Instead of worrying about hiring staff to get through tax season, firm owners worried about helping their clients survive—and about navigating a brand new and complex set of government measures intended to keep the economy afloat.
2020 brought more work, new worries and edgy clients to CPA firms
So, after an extended tax season finally ended, we asked people of various backgrounds at accounting firms—from sole proprietors to partners at firms to staff accountants—what they did to make it through tax season in 2020. A few trends stood out.
In general, survey respondents:
- Worked more—a lot more—than last year and worked more from home, although a surprising number didn’t go fully remote
- Didn’t hire temporary staff to get through tax season, in contrast to 2019—but generally didn’t lay off workers, either
- Went from worrying about standard issues such as quality control, security and changes in tax laws to focusing on navigating the Paycheck Protection Program and reassuring clients
- Relied on the cloud to get things done securely and from anywhere at any time
In the spring of 2019, Right Networks conducted a post-tax season survey. We asked some of the same questions from that survey this year, but we also added a series of questions about the pandemic and the disruptions it caused.
Here is a deep dive into what we learned.