Are You Already Feeling The Pain Of Tax Season?

At the end of the 2017 Tax season I compiled a list of the biggest pain points that Accountants and CPAs tend to feel during the busy season. I am not sharing this information to pour salt on an already open wound. My intent is to see if you are already feeling the same pains that you did last year.

Bottlenecks: Bottlenecks occur when multiple people are involved in the tax prep process. The process halts when something is sitting in someone’s queue awaiting input or review. This is often exacerbated when the individual isn’t even aware people are waiting on him / her.

Redundant Paperwork: Interrelated forms often require the same or similar information. Nobody likes to fill out the client’s name and address on 12 different forms.

Missed Deadlines: Missed deadlines are more concerning because they can have a real impact on the firm and the relationship with the client. Missed deadlines due to bottlenecks or inadequate tracking were cited as particularly frustrating.

Compliance Risk: This is also an area that has consequences. The key issue here is compliance problems that are caused by missing, incomplete or inaccurate data.

Time / Task Tracking: What did you do and how much time did you spend on it? Tracking these important questions manually was identified as a pain.

If your answer is yes to any of the pains that were listed above, my question for you is “Isn’t it time to stop feeling this way?”

I completely understand that now is not the right time to change your current process, however I urge you to put in a reminder now to do so in the weeks that follow April 15th.   Once the busy season is over,  you (and your firm) will be best served by re-evaluating your process so you can figure out how to avoid repeating this cycle come the 2019 busy season.