Post Tax Season Clean-Up

Audit yourself-

Audit your professional tax software for any e-files that might have not been accepted. Sometimes state tax returns may fall through the cracks. Ensure all e-files that were sent or previously rejected have been accepted. Be sure that any tax refund checks to be printed from bank funded returns have been printed and given to the taxpayer.  Delayed tax refunds could fund any day.


Check paperwork-

Be sure that you’ve scanned and uploaded all the required information for each taxpayer. Some professional tax programs may have a document storage portal included, while others may give you a separate document management platform. In any case, be sure you’ve got signed e-file signature pages, income statements and copies of current (and valid) forms of identification. Be sure to include your due diligence worksheet for any client with EITC.


Get some overdue rest-

If you’re a tax preparer, chances are that you’ve been killing yourself since January or earlier. Be sure that you’re taking care of yourself in addition to your tax preparation practice. Adequate rest is important for basic daily functioning. Studies show that humans cannot necessarily tell when they are sleep deprived. Catch up on your sleep and get back to optimal functioning.


Get ready for amendments-

After tax season is when most amendment work will flow in. If you made a mistake on the original return, you may want to prepare that amendment early and without charge. Often times new tax clients will come to you asking for an amendment on a return that was prepared by another. This is a great way to form a new business relationship.  You can always offer “second looks” to all your tax clients.


Get studying-

Summer is the best time to get started on and complete any additional tax training that you are seeking. If you have been considering the Annual Filing Season Program, you can get it out of the way early on and avoid the last minute rush at the end of the year. Starting early allows you to take your time getting all your tax training and studying at your own pace will help with retention. If you are planning on setting for your Special Enrollment Exams, get started as soon as you can. If you’re working full time in addition to studying, be sure to set goals for yourself, but don’t forget to reward yourself.  The length of time it takes completing your EA will vary depending on personal study habits, but about 6 months to completion is a reasonable goal.

Posted: May 7, 2018

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