The 2022 tax filing season has proven to be more frustrating, for taxpayers and tax professionals alike, than any previous season. In preparation for the 2022 filing season, the National Association of Tax Professionals (NATP) surveyed its members to gauge tax preparers’ confidence around recent tax law changes and the impact these changes will have on their business.
Overall, survey data indicated NATP members are concerned about the workload and stress for themselves and their employees. Only 13 percent of respondents indicated they think this year will be better than last year.
Members noted they were most concerned about accurate reporting of economic impact payments and advance child tax credit payments, as well as reporting of Paycheck Protection Plan and other COVID-related loans.
Additionally, much of the concern about increased workload came from the assumption that only 4 percent of taxpayers are knowledgeable about tax law changes.
Through conversations with preparers and NATP members, anecdotally, it seems as though tax season is just as frustrating as they predicted, said Jennifer Van Elzen, director of member relations and analytics at NATP.
“Unfortunately, it looks like tax season is going about as well as our members thought it would,” Van Elzen said. “Serving their tax clients has been further complicated by an increase in delays and lack of IRS resources; a persistent effect from the pandemic.”
Van Elzen said the association is working to make members feel confident by offering more resources and education courses to tax pros during tax season than ever before, including blog posts, publication articles and webinars on topics such as preparing the new Form 7203, calculating the earned income credit on a 2021 return, and reporting and reconciling the child tax credit.
For full survey results, or to speak with someone further, please contact Nancy Kasten (nkasten@natptax.com) or Samantha Strong (sstrong@natptax.com).
About National Association of Tax ProfessionalsThe National Association of Tax Professionals (NATP) is the largest association dedicated to equipping tax professionals with the resources, connections and education they need to provide the highest level of service to their clients. NATP is comprised of over 23,000 leading tax professionals who believe in a superior standard of ethics and exemplify professional excellence. Members rely on NATP to deliver professional connections, content expertise and advocacy that provides them with the support they need to best serve their clients. The organization welcomes all tax professionals in their quest to continually meet the needs of the public, no matter where they are in their careers.
The NATP headquarters is located in Appleton, WI. To learn more, visit www.natptax.com.
Information included in this article is accurate as of the publish date. This post is not reflective of tax law changes or IRS guidance that may have occurred after the date of publishing. All taxpayer circumstances are different, and NATP recommends contacting research services if you have specific questions about your clients’ tax situations.