they really need to push back the due date of tax returns

Until i think

4/25 or 5/1

it's really too much in too short of a period of time.

I'm putting 50% of my practice on extension....maybe more.

Maybe not as high as 50% but close enough. I think clients would get comfortable with a new deadline and, with a 5/1 deadline clients will just drop off on April 25th.

If we can reform the estimated payments system, a June 30th deadline with no extension might work.

even if the clients did more comfortable and drop off their stuff later, which i'm confident you are right that they would, still would allow the preparers to have a day off per week...would take the onus off of us

It's never going to work out like you think it will.

Brokerages will start releasing 1099s later because they can. Pships will become accustomed to the new deadline and issue K-1s later.

We're always going to have a time crunch no matter what the deadline is set as. What works for me is managing clients and setting firm internal deadlines. Roughly half of my client base is on extension too. It doesn't bother me. A good number of those on extension are ready to start after I take some time to recharge.

The only "solution" to the deadline crunch would be to have staggered monthly due dates for all taxpayers. That would be a huge undertaking involving taxpayers, issuers of 1099 forms, etc, etc.

And for what real purpose? Only so that a procrastinating taxpayer can avoid a late penalty and interest. An extension takes all of 5 minutes to do. The "real" deadline is October 15. And when you think about it that's not a deadline either. Tons of tax returns are filed after October 15, even years later. There is waaay to much angst and hand-wringing over "deadlines".

I am all for moving the deadline, but I am not sure in would help. We would all take on more clients and be in the same position we are already in. This year we were very firm with the late clients. You missed our cut-off date, you got extended.

than we'd make more money?

i'm just looking to be able to take off some Sundays.

I did good with clients i mail paper organizers too about sending returns after 3/15....

but

i didn't do it with my digital clients.

Agree, it needs to be moved. Tax returns are more complicated, requiring more research and more forms, which require more time. Majority of my clients don't receive all of their 1099's until after March 15. Should not have to work every weekend for 3 1/2 months. Have you signed the petition, which was started by one of our own members?
https://www.change.org/p/united-states- ... Ya120mPdec

I agree that things will not change, as far as the work compression, if the deadline changes.
I think this year was worse than most, because of the 2 deadline extensions the last 2 years.

Roughly half of my practice is on extension as well, that's the way it is every year.
Historically 60% of the work is done by April 15th.

I have a stated 4 week turn around, and I made it up to files that arrived in my office by 3/26 and earlier.
I'm going to a 6 week turn around next year, and hopefully not working 7 days a week (but it's unlikely due to my personality traits).

Build the practice you want. Take Sundays off to recharge, disengage, don't take calls or reply to emails, spend the day with your family. You can make it happen. If clients get upset and leave, it makes room for more new clients. It is possible to have a work life balance during tax season, but it will not happen by accident or miracle. You need to make it happen, and be able to deal with the consequences ie: upset clients that might leave.

I try to do a "light workload" on Sundays, devoting most of the time to admin and backups, but I was still logging those billable hours this year. Hopefully next year will be better LOL

100% agree with a May 15 or even June 15 deadline. I knew it was going to be impossible to go back to a 4/18 deadline (after 5/17 last year and 7/15 in 2020) and sure enough we had a record amount of extensions. For us that meant about 250 extensions out of 1,000 returns and I felt bad with that number. But it almost seems below average according to others so I am not so upset

Problem is no relief in sight. Form 8752's are due May 15, some S Corps needs to be done quickly, a few 3/31 C Corps due 7/15 and two of our biggest clients are 6/30 year ends (one S Corp grandfathered and a C Corp)

Human nature. You give an inch they take a ft! The extended deadline last two seasons got Americans in a bad habit. Folks were still under the impression that deadline this year was May 15th.

In all my communications I highlight that deadline was 4/18, but I guess they did not pay any attention to that.

I am making a list of clients who extended this tax season and they will be on my hit list to remind them next tax season not to repeat their mistakes.

It's always the same people who procrastinate. They even defend their lateness by claiming that you know we always wait. If you let them slide and work around the clock to get it done, they will repeat. The stress from the last two years have given me the courage to respond that the IRS and state revenue departments still have staff working from home and there will be delays and they are going on extension. Last year I informed all that I was on vacation starting the 16th. It worked. They didn't want to go on extension.

Until i think
4/25 or 5/1
it's really too much in too short of a period of time.
I'm putting 50% of my practice on extension....maybe more.

Couldn't agree more. After they extended the due date to 5/17 in 2021, I realised how much less stressful tax season had been with an extra month to prepare returns. I vote for 5/15.

Your idea of extending the tax return due date to say May 1 would be fine if they kept all other reporting requirements the same. I mean, W2 keep the same requirement, any 1099 / K-1 need to be filed and provided to the taxpayer not later than March 15 (30) at the latest.

Your idea of extending the tax return due date to say May 1 would be fine if they kept all other reporting requirements the same. I mean, W2 keep the same requirement, any 1099 / K-1 need to be filed and provided to the taxpayer not later than March 15 (30) at the latest.

Agree

For those, like me, in favor of extending the filing date, what are your suggestions on tax payment dates? Without changing that, we end up touching most returns more than necessary. This increases fees more than necessary and gives clients a few years of angst whilst they and we adapt.

I agree with a change to May 15. This tax season was one of the worst for me. Despite contacting clients about the "new" filing date of April 15, a fair number of clients waltzed in later than they normally did in prior years. I'll give them one more chance and personally contact each one of them regarding the 2022 tax year.

More than a handful of clients, who have a fair amount of investment income, refused to have their returns efiled until April 1. They learned from several past years when corrected 1099s were issued requiring amended returns. So those returns sit around and can't be finalized in the normal course of business.

The compression of tax season is becoming unreasonable in my opinion and the May 15 deadline did allow me to handle matters in a more relaxed manner.

I have 700 2021 projects not completed as of the beginning of last week. Not one of those that came in prior to March 20th didn't allow for a thoughtful projection supporting an extension payment. The only issue is those individuals who take greater than 75days to bring in the information.
IMO, it's not a regulatory issue, it's a management issue with us.