Assign clients/tax returns to preparers and reviewers based upon their experience and training.
Arrow.svgReview the prior year workpaper file and permanent file.
Arrow.svgSet up the current year file, update client profiles, and check data transferred from last year's data files.
Arrow.svgOrganize workpaper files with an index, checklists, and applicable notes from last year's files, including, among others, net operating loss information, credits, and carryovers.
Arrow.svgCheck tax form instructions for changes in tax laws or regulations, changes to tax forms, and additional forms to file.
Arrow.svg Check descriptions, formats, and formulas in document templates created from support schedules for the prior year and update them for necessary changes. Notably, professional liability claims may arise from mathematical errors due to incorrectly updated spreadsheets.
Arrow.svgIdentify clients that have undergone significant change (e.g., client’s altering terms of debt may result in cancellation of debt income) or that will be significantly affected by Tax Reform and other tax law changes implemented or expiring in 2019. Schedule a meeting with the assigned partner/manager to discuss the impact of the change (e.g., application of Internal Revenue Code §199A, changed filing status, preparation of returns declaring foreign or out-of-state income).
Arrow.svgReview client data promptly when received, making inquiries if any information appears to be incorrect, incomplete, or inconsistent, and document discussions with clients. Awkward situations may arise when information that the CPA has had for months is not reviewed until close to the deadline, and either required information is missing or additional information is requested.
Arrow.svgUse IRS e-services to verify estimated tax payments made by clients in past and current years by submitting transcript requests via the IRS e-Services Transcript Delivery System. Remember that the IRS no longer faxes tax transcripts. Many states provide firms with a similar ability to verify state payments.
What to do during busy tax season
9 things that should be done for each client
5 steps to review e-file requirements
and processes
4 ways to update engagement
letter processes
3 must-do’s to review client acceptance
and continuance procedures
8 steps to prepare the firm for tax season
5 ways to help staff prepare for tax season
What to do now … before the big rush
11 items to cover in a pre-tax season staff meeting
15 things to include in a control log
4 things to remember when testing tax software
8 things every tax preparer should do for each client
4 ways to better plan for deadlines
2 keys to survival
What to do during busy tax season
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