How to Conquer the Last Few Weeks of Tax Season 2021?
8th Jan 2021
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Endless work-hours, last-minute clients and tight time constraints – just a brief summary of what every January looks like.
However, January 2021 is a tad bit different. The usual challenges and struggles of an accountant are amplified this year. Accountants have been filing tax returns from home trying to maintain their work-life balance but now the fatigue of overwork, late nights and being locked up inside for weeks – is finally setting in.
What Are You Struggling with The Most?
The news of HMRC rejecting the calls to extend the tax season deadline amidst national lockdowns might have hit accountants hard. The month of January is infamous for being excruciatingly hectic for accountants and this year, there’s an added backlog coming from 2020. Accountants are sacrificing their weekends and burning the midnight oil making sure that they meet the fast-approaching deadline and their clients don’t end up paying any penalty.
Monotony of Work-from-home
Believe it or not, but work-from-home does get extremely monotonous at times. Especially, at this hour when accountants are racing against the clock and working under great pressure, it’s always good to have support from fellow accountants. Right now, accountants are just stuck in the continuity of tax work and household chores and apparently, there seems no end to it.
While accountants are pushing against the impending deadline for their regular clients, there’s always a set of clients popping-up in the end with a huge pile of tax returns. Some of them with massive complications as well. Accommodating such clients is a massive struggle.
Generally, most firm owners grapple with the problem of resource crunch at this point of time. It’s either because of the staff on leave or too many tax returns coming in. This year, the staff on furlough is another reason for having fewer hands on the deck.
Reaching Out to HMRC Over Calls
With so many tax legislations changing over the last year, accountants have been spending hours calling HMRC enquiring about the new tax laws.
The clients are now working out-of-office. Everyone has their own pattern of working and that makes it really difficult to reach out to them. Chasing clients has always been a task for accountants, and the pandemic made it a tougher drill.
Many Problems, One Solution
Here’s a guide to help you focus more on their clients and team member’s morale in these last few weeks of tax season. It includes:
How to finish the left-over returns by deadline, with less strain
How to increase turnaround time, without hampering the quality
How People, Process & Platform can ease the burden
The chaos in January is inevitable. You faced it last year, you are facing it right now and you will face it in the coming years. The only way you can make the most of the tax season is by keeping your sanity intact and being strategic about it. Right now, you focus on tackling this month, but for the next tax season, plan ahead. Make a sound strategy, partner with an outsourcing firm and send gentle reminders to the potential last-minute clients to avoid last hour hassles.
Just take a deep breath and Get, Set & FOLLOW THE GUIDE.
We help organisations prioritise – by meeting staffing shortages and taking care of non-core functions like payroll, bookkeeping, taxes, and much more– so that businesses can focus on scaling their practice and increasing revenues.