MNCPA members: What concerns us most about upcoming tax season
January 10, 2023 | Corey Butler
A moment of panic or a surge of worry can strike at any time: in your sleep, at breakfast or during your child’s recital. When you’re a CPA and January approaches, it’s not uncommon for some of those moments to increase in frequency as tax season begins in earnest.
Certainly, the work of a CPA is rewarding and of the highest importance, but there are those lingering fears about the season of work that’s approaching. It’s with that in mind that we recently asked our public practice members as part of the annual MNCPA Tax Survey about what concerns them most about this upcoming tax season.
Two overarching themes elevated above the rest, a surprise to no one who’s remotely connected to the accounting profession. Those involve tax law changes, especially during filing season. And, like most industries are facing, there’s concern about having enough staff
to complete work.
Patience is a virtue, and we will need it in abundance from and for all parties involved this year — clients, CPAs, government folk. But there were also some other interesting answers shared from MNCPA members. Here’s what they had to say.
The Legislature and tax laws
- Retroactive law changes due to the election.
- Keeping up with likely tax changes coming.
- Increased compliance that does not result in tax planning or a value-add for clients.
- Complexity around existing and potential new laws.
- New tax laws coming late in session and delaying the filing season.
Staffing and time challenges
- Staffing and trusting they will stay if you put time, effort and money to keep them onboard.
- Lack of staff to get the work done.
- Working with new clients and being able to provide them quality service.
- Transitioning clients from retiring partners to new relationship managers.
The best of the rest
- Clients not providing all of their IRS letters. IRS letters have been increasing and process is growing longer.
- Lack of suntanning.
- Timing of program release and efficiency of e-file.
- Struggles with the IRS.
- Cryptocurrency challenges.
A positive note to end on
- I’m actually looking forward to it. I hope it goes smoothly.
Topics: Clients, Legislative & Government Affairs, Accounting & Auditing, Staffing, Work-Life Balance, Succession
Corey Butler is the MNCPA communications manager, working to enhance members’ professional reputations through content, media relations and public affairs. He's been with the MNCPA since 2013. Corey keeps busy outside of the MNCPA spending time with his wife and children, serving on his local school board, volunteering in his community and catching up on long-lost hobbies. Corey enjoys the works of John Steinbeck, and Paul Bunyan, Robin Hood and Santa Claus lore. You may reach him at 952-885-5530 or email@example.com.
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