The tax industry isn’t just changing – it’s evolving at an unprecedented pace. Tax professionals must be future-ready to stay competitive with new regulations, advancing technology and shifting client expectations. The question isn’t whether change will happen but how you will thrive.

The most significant tax industry changes expected in 2025

As we move into 2025, several key trends are reshaping the tax landscape:

AI and automation in tax preparation – Artificial intelligence streamlines compliance, tax planning and document management. Understanding how to integrate AI-driven tax tools for tax professionals will be critical for staying ahead.

IRS enforcement and compliance shifts – With ongoing IRS crackdowns on employee retention credit (ERC) claims, cryptocurrency taxation and small business audits, tax professionals must proactively understand IRS compliance changes in 2025.

The rise of advisory services – Clients expect more than just tax preparation – they want strategic financial planning and advisory services for tax professionals. Offering client advisory services (CAS) is becoming a must for firm growth.

Expiring tax provisions (Tax Cuts and Jobs Act (TCJA) sunset) – As the TCJA nears expiration, tax professionals must be prepared to guide clients through expiring tax provisions and 2025 tax law updates that will impact deductions, credits and tax planning.

Remote workforce and multi-state tax challenges – More businesses are operating across state lines, creating complex tax compliance issues for remote workers and tax implications for multi-state businesses.

What this means for tax professionals

With these industry shifts, tax professionals must adapt or risk falling behind. The key to success in 2025 is education, networking and preparation – and that’s exactly what Taxposium 2025 is designed for.

Why Taxposium 2025 is the must-attend tax event of the year

Taxposium 2025 is the premier tax conference for CPAs, enrolled agents (EAs), accountants and tax preparers who want to stay ahead of industry changes. This is not just another tax seminar – it’s a transformative experience designed to help you navigate industry changes, master new skills and grow your tax practice.

What you’ll gain at Taxposium 2025:

• Cutting-edge insights on AI in tax preparation, automation and the future of tax technology
• Exclusive updates on IRS tax law changes, compliance shifts and audit trends
• Strategies for thriving in an evolving industry – whether you’re a solo practitioner, CPA, EA or firm leader
• Networking with tax professionals and industry leaders who are shaping the future of the profession
• Actionable takeaways to implement in your practice immediately

How Taxposium 2025 helps you stay ahead

Attending Taxposium 2025 will give you the tools to navigate IRS compliance changes, 2025 tax law updates and tax practice management strategies. With exclusive access to expert-led discussions and networking opportunities, you’ll leave with practical solutions to implement immediately in your firm.

__Who should attend? __

• CPAs, enrolled agents (EAs), accountants, tax preparers and tax firm owners looking to stay competitive
• Tax professionals looking to expand into advisory services and provide strategic financial planning
• Experts in AI, automation and tax technology seeking insights on emerging tax tools
• Anyone seeking to network with forward-thinking tax professionals and industry leaders

Don’t just keep up – lead the future of tax

Change isn’t something to fear – it’s your greatest opportunity. Tax professionals who embrace innovation and adapt to industry shifts will thrive in the future of the tax profession.

📅 Secure your spot at Taxposium 2025! Early-bird pricing ends June 2. Register now and take the first step toward future-proofing your tax career.

Tax season does not have to be a stressful scramble at the last minute. Filing an extension gives you and your client extra breathing room by shifting some of the workload into a more manageable summer period. With an extension, individual clients have until Oct. 15, 2025, to file their 2024 Form 1040, U.S. Individual Income Tax Return. Any taxes owed still need to be paid by April 15, 2025, as it’s an extension to file, not an extension to pay. Note that some taxpayers may have different deadlines, especially if affected by disaster provisions.

Why consider an extension?

Clients might file an extension because it shifts the deadline to a slower period (for the preparer), allows them more time to gather documents, engage in detailed discussions about their tax situation and prepare thoroughly. This is all available without penalty, provided any taxes owed are paid by the original deadline.

For the preparer, an extension generally means an unhurried pace during the slower summer months, which translates into several benefits:

• Lower last-minute pressure: Both the preparer and their client’s experience are less stressful by avoiding a potentially rushed, last-minute filing
• Enhanced thoroughness: Extra time allows for a more careful review of the return, reducing the likelihood of oversights
• Improved client communication: With proactive planning and more opportunities for client interaction and discussion, practitioners can address questions and complex issues more effectively

A practical example

Consider the Meyer family, who experienced several financial changes during 2024. They:

• Purchased a new home
• Started a small home-based business
• Incurred unexpected medical expenses
• Purchased an electric vehicle
• Are planning on purchasing a used, clean vehicle in 2025 for their business

This hypothetical family illustrates why having extra time in the summer can be advantageous – it allows you to work with your clients through each change methodically.

Effective client engagement strategies

Getting clients to submit their tax documents during the summer can be challenging, but you can make it happen with a structured approach and consistent communication.

1. Emphasize the benefits of an extension

   a. Inform clients that summer is an ideal period for completing their return due to the slower pace during this season. Let them know there is no penalty for filing an extension, which gives them extra time to gather and review their documents and engage in discussions that might be difficult during the hectic tax season.

2. Use a timeline with due dates

   a. Provide a clear, step-by-step summer timeline. Break the process into manageable tasks with specific deadlines (e.g., submit all income documents by June 30). If necessary, provide reminders ahead of each deadline.

3. Leverage automation and technology

   a. Use secure online portals for document uploads. These portals are common with most tax preparation software. Automate client reminders, which may also be part of the tax preparation software package.

   b. Review Publication 4557, Safeguarding Taxpayer Data.

4. Offer incentives

   a. Consider implementing measures such as increasing fees for late documents to motivate timely compliance.

5. Make it easy for clients

   a. Provide a detailed checklist of required documents. Offer phone or video consultations and allow clients to submit documents in batches.

6. Follow up

   a. If deadlines are missed, send personalized reminders via email, text or phone call. Emphasize the benefits of providing documents and offer support to overcome any hurdles.

7. Create a sense of urgency

   a. Inform clients that your capacity is limited. To guarantee timely completion, documents must be submitted by a specific deadline (e.g., all documents due Aug. 1).

8. Address procrastination and anxiety

   a. Reassure clients who feel overwhelmed by the process. Offer quick introductory calls to help them start gathering their paperwork.

While an extension provides a welcome break, it’s important to remember that, as a tax practitioner, you can do only so much. Your ability to review and prepare returns effectively hinges on receiving complete and timely information from your clients. If documents are submitted late or incomplete, even the best-laid plans can fail, potentially leading to a late-filed return and additional complications.

So, while you’re prepared to offer support throughout the summer, the responsibility to provide necessary documentation in a timely manner ultimately lies with the client. Encourage clients to take advantage of this extended timeline to work frequently – keeping in mind that delays on their part can result in unintended consequences, such as a late-filed return.

By setting clear expectations, leveraging technology and maintaining proactive communication, you can create a relaxed yet efficient tax season that benefits you and your clients. Stay proactive, stay realistic and work together to make tax season as stress-free as possible.

Question: Victoria and Francisco have one son, Carlos, who is 18 and started his first year in college last fall. They provide over 50% of his support and will claim him as a dependent on their 2024 income tax return. They have never claimed education credits before and meet all the requirements to claim the American opportunity tax credit (AOTC) (e.g., have not been convicted of any felony drug offense, income requirements, etc.). [AOTC | Internal Revenue Service] Although Carlos received a partial scholarship to pursue an undergraduate degree in medicine, he still had eligible tuition expenses that his parents paid. Carlos does attend school full-time and does not work. Can Victoria and Francisco claim the AOTC?

Answer: Yes, Victoria and Francisco can claim the AOTC. Carlos is in his first year of college, they have never claimed the AOTC for him before and they meet all the other requirements. The maximum credit is up to $2,500.