white paper
Tax season success: 7 steps for a smoother workflow
During tax season, your firm must have the right technology and resources to ensure a smooth and successful period. However, is your team ready to handle the unexpected challenges that may arise? Are there hidden technology gaps, or are workflow inefficiencies starting to emerge? There's always room for improvement; now is the perfect time to refine your processes.
This white paper provides actionable steps to enhance your firm's workflows and efficiency while preparing you for the future. Even during peak times, small adjustments can deliver immediate benefits to both your firm and your clients. By embracing a mindset of continuous improvement and agility, you can drive your firm toward greater success. Here's how.
Chapter One
Increase your visibility
Tax season is an ideal time to increase your firm’s visibility to help further strengthen client relationships and attract new clients. Why now? Because this is the time of year when taxes and finances are front and center for taxpayers. Take advantage of their captured attention.
To help keep your firm top of mind, consider the following:
- Social media. Clients value and expect instant updates on tax news that affects them. Position your firm as a trusted source for these updates and leverage social media to keep your contacts informed with timely and relevant federal, state, and local tax posts that matter to them.
- Webinars and white papers. Enhance your online marketing strategy with webinars or white papers. Is there a topic of particular interest to your audience? If so, that’s a great opportunity to position your firm as a thought leader.
- Engaging imagery. For maximum impact, add images designed to render optimally with Facebook, LinkedIn, and Twitter/X posts.
- Articles. Save time and position your firm as an authority by leveraging pre-written, full-length articles to keep your audience current with the latest tax and regulatory changes, which can be challenging and time-consuming. Be sure they are available in the right format for quick and easy publishing on social media or your blog.
- Visuals. Eye-catching images that incorporate tips, trivia, and recommendations your followers want to share can make an impression in just a few seconds.
- Newsletters. Deliver topics of interest to your contacts and provide them with relevant, thought-provoking articles via newsletters.
Ramping up your firm’s marketing during tax season may seem like a tall order. If that’s the case, consider adding an all-in-one marketing solution to your workflow. Doing so can be an easy and effective way to increase your firm’s visibility and thought leadership.
Chapter Two
Encourage early e-filing
Each year, to combat tax-related identity theft, the IRS either rejects or holds the processing of tax returns they deem suspicious. This situation frequently results in tax preparers handling e-file rejections for clients because someone else has already filed a return using their Social Security number. Additionally, preparers may need to help clients who get IRS letters asking about returns they never filed. Therefore, it's crucial to file tax returns early.
In recent years, the IRS has stepped up its fight against identity theft, and today, many new safeguards are in place. That said, the threat is still very real as identity thieves continue to create new ways of stealing personal information.
In addition to beating identity thieves, encouraging your clients to file early can help eliminate the need for an extension. It can also help you avoid a traffic jam of incoming returns as the April filing deadline draws near.
Amidst these challenges, UltraTax CS emerges as a powerful ally for tax professionals. With secure e-filing capabilities, it provides real-time status updates that help firms monitor progress and keep clients informed. This efficiency is invaluable for early e-filing, as it ensures that all necessary data is in place, returns are complete, and any issues are resolved well before deadlines.
Early filing can also help ensure you and your team have more time to advise clients proactively. Doing so is important to help your staff strengthen client loyalty and meet evolving client demands in today’s competitive environment.
Chapter Three
Proactively identify and document pain points
Ideally, your firm has the technology and resources in place for a successful season, but the reality is that there’s always room for improvement.
As you wade into tax season, are unforeseen technology gaps or inefficiencies rising to the surface? This is the perfect time to take note of pain points and areas of inefficiencies so you can resolve them well ahead of next tax season.
Sometimes, the signs are obvious, but other times, they may be easy to overlook. As outlined in the Thomson Reuters white paper, “Tax software red flags: How to identify them and what to do next,” some warning signs to keep watch for include, but are not limited to:
- Spending a lot of time manually entering information into your current program or multiple programs because they don’t integrate
- Software updates are pushed through at the most inconvenient times, disrupting your workflow and impacting your productivity
- Lack of seamless integration and the realization that your current software doesn’t integrate with your firm’s other internal and third-party programs to enable data sharing throughout your tax preparation workflow
- Noticing a low utilization rate
- Your software doesn’t allow enough users to access it at the same time
When it comes to addressing these pain points, AI-powered tax technology plays a pivotal role. UltraTax CS, a professional tax software, smoothes your entire tax workflow with powerful, time-saving tools. It integrates seamlessly with SurePrep TaxCaddy, SurePrep 1040SCAN, and SPbinder, which utilize AI technology to partially automate tax preparation. With this customized, end-to-end solution based on cloud computing, advanced data sharing, and paperless processing, you won't lose any billable hours to manual tasks.
As you journey through tax season, consider keeping a journal to easily document what is working for your firm — and what is not — helping ensure no pain points are overlooked or unresolved as you gear up for next year.
Chapter Four
Improve the ‘gather + deliver’ phase
By now, it’s clear to most accounting firms that a digital tax workflow is the foundation for a more efficient tax filing process. By replacing manual, paper-based processes with automated workflow solutions, firms can reduce the time spent on administrative tasks like gathering client documents, entering data, and tracking down missing information.
While the gather-and-deliver phase is one of the most time-intensive steps in the tax preparation process, it's also where AI and automation can significantly enhance efficiency. Platforms such as UltraTax CS and SurePrep offer comprehensive digital tax solutions that improve this critical phase.
Specifically, SurePrep TaxCaddy simplifies document collection by allowing clients to upload tax documents directly, streamlining data gathering, and minimizing back-and-forth communication. Together with SurePrep 1040SCAN and SPBinder, your team can also reduce time spent on document review and data entry. These tools use AI to scan, categorize, and import tax data directly into your 1040 workflow. By automating routine tasks, your staff is free to focus on higher-value services — and even begin the lucrative transition into client advisory work.
Chapter Five
Unravel tax law complexity
If you haven’t done so already, consider the benefits of an AI-enabled tax and accounting research solution that enables your firm to stay on top of regulation changes efficiently and confidently while proactively providing clients with relevant and meaningful insight.
By synthesizing expertly written guidance and analysis, AI-powered tax research draws on thousands of primary sources and expert editorial commentary to quickly surface relevant summaries to even your most complex tax questions. Plus, by searching only reliable and vetted sources, even junior staff can confidently find accurate and easy-to-understand answers on their own.
When it comes to a smooth workflow, AI-powered solutions further reduce workload pressure and complexity, especially in areas requiring in-depth research or interpretation of complex tax laws. For instance, Checkpoint Edge with CoCounsel brings advanced AI tax research capabilities, simplifying the understanding of nuanced tax codes and compliance requirements.
These tools expedite workflows and allow your team to provide clients with faster, more accurate answers, reducing stress and enabling a smoother tax season. Simply pose a question, and you’ll quickly receive a relevant answer in everyday language, complete with citations from experts and primary sources. From there, you can seamlessly copy and paste the summarized response into your client or staff communications.
With a structured, technology-driven approach to unraveling tax law complexity, your firm can stay agile, ensure accuracy, and focus on higher-value advisory work to drive growth during tax season and beyond.
Chapter Six
Keep staff happy and motivated
Tax season is stressful. An AI-powered tax workflow plays a significant role in ensuring your staff is happier and more motivated during the busy tax season by reducing workloads, increasing efficiency, and enabling a focus on more value-added tasks. Let’s take a look at how.
- Relieving workload pressures and reducing burnout. Tax season is known for intense deadlines, heavy workloads, and long hours, all of which can lead to staff burnout. By automating repetitive tasks and reducing manual data entry, AI-powered tools help alleviate these pressures, enabling tax professionals to complete more work in less time.
For example, SurePrep 1040SCAN automates the scanning and importing of tax data directly into the system, freeing time for tax preparers to focus on complex problem-solving rather than clerical work. UltraTax CS similarly streamlines tax preparation and e-filing so staff can handle a higher volume of clients without feeling overwhelmed.
By lightening the workload and minimizing repetitive tasks, these tools help to create a healthier, more manageable work environment — especially during peak seasons. - Empowering staff to work smarter. AI-enabled tax research solutions like Checkpoint Edge with CoCounsel empower staff by enabling faster, more accurate tax research. With the complex and ever-changing nature of tax law, having an AI assistant that quickly surfaces relevant answers and insights from a vast database is invaluable. This capability not only reduces the time staff spend researching but also increases their confidence in providing clients with accurate, well-informed advice.
When staff can make meaningful contributions without the stress of sifting through large volumes of information, they feel more engaged and motivated. In turn, by enabling your staff to focus on more strategic aspects of their roles, their work becomes more fulfilling, and they feel more competent and valued. - Supporting well-being and work-life balance. By automating the most time-consuming parts of tax preparation, AI-powered tools give staff more time to manage their workload effectively, allowing for a healthier work-life balance.
Solutions like SurePrep TaxCaddy improve collaboration by making it easier for clients to submit documents electronically, minimizing back-and-forth communications and manual data collection. These tools allow firms to meet deadlines efficiently without requiring staff to sacrifice personal time and well-being. When employees feel that their time is respected and they have the right tools to optimize their workflow, they are more likely to approach tax season with a positive outlook, thus boosting morale and job satisfaction.
Overall, AI-powered tax technology helps create a workplace environment that values efficiency, accuracy, and staff well-being, leading to a more motivated, engaged, and productive team.
Chapter Seven
Optimize your workflow
As your firm embarks on another tax season, taking proactive steps to ensure a smoother workflow will be essential to ensuring success.
Encouraging clients to file early, identifying and documenting workflow inefficiencies, and staying adaptable throughout the season can empower your firm to meet both expected and unforeseen demands with confidence. By acting now, your firm can achieve a successful tax season and also lay the groundwork for continued growth and profitability in the years to come.
Leveraging the right technology stack is critical for obtaining a smooth workflow and ensuring a successful tax season. Here are some key tax and accounting software and research solutions that can help streamline your firm's operations:
- UltraTax CS. This comprehensive tax compliance software enables efficient, accurate tax preparation and e-filing. Thomson Reuters designed it to integrate seamlessly with other products to streamline your entire tax process.
- Checkpoint Edge with CoCounsel. This AI-powered tax research tool simplifies complex tax law interpretation and provides quick, reliable answers. With CoCounsel’s advanced capabilities, your firm can save time, reduce research errors, and stay on top of changing tax regulations.
- SurePrep 1040SCAN. This tool automates the scanning and importing of tax documents, reducing manual data entry and minimizing the risk of errors. It accelerates the 1040 preparation process, freeing up your team for client interactions and advisory work.
- SurePrep SPBinder. This digital binder solution organizes and standardizes your workpapers, improving accuracy and collaboration among team members. It integrates with UltraTax CS to ensure a seamless data flow from tax documents to final reports.
- SurePrep TaxCaddy. This client collaboration tool simplifies document collection by allowing clients to upload their tax documents directly. It improves client satisfaction by offering a more convenient experience while reducing the administrative burden on your team.
These resources, combined with strategic planning and a focus on automation, can help your firm maximize its workflow efficiency, prioritize well-being, and position itself for sustained success each tax season.
Checklist for a successful tax season
- Increase your visibility
- Encourage early e-filing
- Proactively identify and document pain points
- Improve the gather-and-deliver phase
- Unravel tax law complexity
- Keep staff happy and motivated
- Optimize your workflow
For more guidance and resources to keep you on track during this busy tax season, visit our tax and accounting resource hub.
Tax Season Resource Center