Tax Preparers Reporting Larger Numbers of Extensions This Year

By:
Chris Gaetano
Published Date:
Jun 11, 2019
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A number of factors in the tax system combined into a perfect storm of tax complexity that has led many preparers to file many more extensions than in previous years, according to Accounting Today. One firm for example, CBIZ MHM, saw a 13 percent increase in extensions from the last tax season, while another firm reported having to file twice as many as before. Much of the blame was laid at the feet of the Tax Cuts and Jobs Act, though not all of it. Beyond the complexities of the new tax law, professionals also cited the outage of CCH's cloud computing services as another factor. This lines up well with what the Trusted Professional ​has learned from New York state preparers for an upcoming story: Many professionals reported an especially difficult tax year, which called for a higher number of extensions than normal. Look for the piece in the July/August issue. 

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