Oct 20, 2021
The 2021 PCPS CPA Firm Top Issues Survey polled firms of all
sizes to get a pulse on the top pressing issues impacting them.
In this Tax Section Odyssey episode, April Walker, CPA, CGMA,
from the AICPA Tax Section and Brad Barbour, CPA, from the AICPA
Private Companies Practice Section, and host of the Small Firm
Philosophy podcast discuss tax-related challenges that emerged in
the 2021 CPA Firm Top Issues Survey.
What you’ll learn in this episode
- Overview of the survey and highlights of results (1.18)
- What’s happening with tax law that is keeping practitioners up
at night (2.07)
- Advice from the AICPA Tax Section to help tax practitioners
remain up to date and communicate tax changes with clients
- Challenges when working with the IRS (5.01)
- Relevant AICPA Tax Section resources (8.00)
- Resources available to help practitioners deal with workload
and deadlines (10.24)
- Staffing issues (13.20)
- A page from Brad’s travel journal (15.41)
Resources to address CPA firm top issues — The PCPS and the
AICPA provide a variety of resources that can help address the
issues identified in the 2021 PCPS CPA Firm Top Issues Survey. Also
included in this toolkit is the
Client Evaluation Tool.
PCPS CPA Firm Top Issues Survey — Professional insights
highlighting the results of the biannual firm top issues survey
conducted in May and June of 2021.
- Small Firm
Philosophy podcast — This podcast shares big ideas about small
firms. You'll hear from leaders of small accounting firms about
their philosophies on running a successful practice in today's
rapidly changing environment.
- AICPA tax hub —
Compendium of tax guidance and resources.
IRS Hotlines Quick Reference Chart — Summary of contact
telephone numbers for various IRS departments to help practitioners
resolve IRS tax matters for their clients.
the IRS FAQs — Answers to frequently asked questions help you
navigate your correspondence and activities with the IRS.
Client Termination Practitioner Checklist and Notification
Letter — This checklist will guide you through some important
items to keep in mind when terminating a client relationship. The
notification letter is used to notify a client about the
termination of your professional relationship with them and remind
them of other unsettled matters.
Extension Reminder Letter for Client Tax Return — Customizable
letter to send to your clients to help them understand the tax
return extension process and inform them of what financial
information you need from them and when.
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access show notes with direct links.
This episode is brought to you by the AICPA’s Tax Section,
your home base to maintain your professional edge. To learn more
about the Tax Section, check out aicpa.org/tax or sign
up for a free web