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Could Tax Season Be Extended?


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22 minutes ago, Possi said:

Oh LAWD, let it be!

NOOOOOO!.   I am short on revenue this year and I need my clients to start showing up.    About 25% behind last year at this point, and last year was about 10% behind the prior year at this point.   I will get to the same revenue eventually, but I would appreciate it to start coming in and if they delay the season I am going to be sitting here waiting a few extra months to get the work done and get paid for it.

Tom
Modesto, CA

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48 minutes ago, BulldogTom said:

NOOOOOO!.   I am short on revenue this year and I need my clients to start showing up.    About 25% behind last year at this point, and last year was about 10% behind the prior year at this point.   I will get to the same revenue eventually, but I would appreciate it to start coming in and if they delay the season I am going to be sitting here waiting a few extra months to get the work done and get paid for it.

Tom
Modesto, CA

Plus, I have my full time assistant for the normal season. She spoils me. When I have to do all this on my own, I won't be so happy about the extension. It would ease my stress for the moment, though. We are behind on returns coming in as well. I hope that next year I'm working for somebody else... somebody who buys my business....

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47 minutes ago, ILLMAS said:

Well it seems people are taking it upon themselves to extend the filing season because they are coming in very slowly, and no I don’t want an extension. 

I used to have a long time client with multiple businesses that always brought his tax info late and always expected me to have everything done quickly.

For years I put up with that behavior although I did raise his fees well above my normal fee.

Finally last year now that I am semi retired I told him 3 different times that I would have his return or project done a week later than he wanted.

Thankfully he has moved on to inflict himself on another accountant. It just got to the point where the money didn't matter any more.

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My clients dropped off/uploaded/mailed/FedExed/UPSed/faxed in mass about the MLK weekend/week, so I now have a huge backlog. And, I'll be working on entities through 15 March. So, that gives me only a month to prepare all the personal returns that dropped off last week. I really want an extension, don't want to stop to prepare extensions during my only month to prepare returns. I loved last year where I kept preparing returns until July and then had many fewer extensions to prepare.

Tom: give your clients deadlines to get their info to you. Or, have progressive prices, and let your clients know, to encourage them to come earlier. Or, close/slow down your business when you want, such as 15 April, and not start up again until you want, say 1 September, to prepare those extended or just plain late. Let your clients know how your business runs, so they can schedule accordingly. Don't let your clients run your business.

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36 minutes ago, jklcpa said:

Some of mine are in earlier than usual and more impatient. Of course, I expect that the procrastinators will try to not gather their data until the beginning of July if the deadline is extended.

Exactly. My clients come in when they've been coming in for years, early for the big refund people and late for those who owe, typically. An extended deadline just saves me preparing a bunch of extensions.

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57 minutes ago, Possi said:

I tell my clients that my "on time" deadline is March 15th every year. They ALL know me, and know full well that after June, I'm on a boat fishin' or in TN visiting @RitaB ! 

I am jealous.   Would love to be in TN with the two of you.

Tom
Modesto, CA

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2 minutes ago, BulldogTom said:

I am jealous.   Would love to be in TN with the two of you.

Tom
Modesto, CA

We would love it, too. When the COVID b/s is over, we will gather again, I'm sure. I'll keep you well informed about our antics! LOL 

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July 15th would be welcome because right now I have 4 PPP Loan Forgiveness Apps to deal with plus 2 Second Round PPP Loan Apps to prepare and submit.

I have told my handful of 1040 clients, no appointments until after March 16th.

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And, I have a client who didn't file 2017 due to COD (2) and is now getting threatening letters from the IRS. She called them and negotiated an extended 4 March deadline. I have partnerships and S-corporations to prepare! I'm hoping more than ever for a 15 July deadline. 

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