Fun with Tax Season!

Tax season is in full swing and CPAs around the country are working longer hours in the hopes that April 15th will roll around any day now (it's actually 36 days away - hang in there!). Even Canadian Chartered Accountants are getting in on the "fun" (though their tax season is slightly different from ours)! We wanted to share with you some exciting ways accountants are spending their tax season, as well as some tips on surviving the unique challenges of the same old tax season during the worst economic crash in a generation (according to CPA Trendlines' Rick Telberg).

Rick shared the results of a recent survey on his site here detailing CPAs biggest concerns for Busy Season '09 - it's no surprise that most surveyed indicated the deepening recession was their largest challenge, "followed distantly by getting up to date with tax code changes and late and disorganized clients and client information."

While CPAs and CAs may be concerned about a worsening economic outlook, they are also diving head first into helping others file their returns - a sign that despite concerns, accountants are happy to answer the call of duty to help lend their expertise in a time of need.

Our friend and Chartered Accountant Krupo of the A Counting School blog is doing his part in Toronto by participating in the ICAO low income tax clinic - similar to the VITA and Tax-Aid low income tax assistance programs here in the states, ICAO seeks to help low income families maximize their return potential while minimizing the costs associated with hiring a professional to do your taxes. As Krupo himself said, "That's where the super-rockstar CAs come in, to help those in need. When your income is already this low, the $20 or $100 that a tax preparation or website will charge can be the difference between eating or going hungry for a week or more, or other hardships that you will hopefully never have to face in your own life."

In Illinois, the Illinois CPA Society "is partnering with the Internal Revenue Service on the Military Tax Preparation Project for the sixth year running to provide free personal income tax return filing assistance to members of the U.S. Armed forces who have recently returned or are still serving in a combat zone or qualified hazardous duty area."

The IRS itself also offers a free file option for those who make less than $56,000 a year according to the Los Angeles Times: If you earn less than $56,000 annually, the Internal Revenue Service offers a free electronic filing service through the Free File Alliance -- a cooperative of roughly two dozen tax software firms including H&R Block, TurboTax maker Intuit Inc. and TaxSlayer.com. To participate, go to the IRS website at www.irs.gov and click on "Free File." The prompt will ask whether you want to pick a provider on your own or have the IRS help you. There are roughly 19 offerings, but not all are available to everyone. Some of the Free File partners also restrict their services by age, state or income. The "Help" prompt takes you to a brief questionnaire that narrows the field to companies that will accept your return.

The Society of Louisiana CPAs recently sponsored its annual Louisiana CPA Tax Hotline, connecting the state's CPAs with residents for free, professional assistance with basic personal or corporate tax questions.

The Virginia Society of CPAs is also offering free tax help to resident members of the armed forces and an "Ask a CPA" e-mail program through April 8th.

If you are an accounting student or CPA looking to lend a hand this tax season or an individual looking for tax help, your best bet is to check with your state's society of CPAs to see what they're doing to meet the need this tax season.

As for surviving tax season? This year's unique challenges should certainly not get in the way of a successful season. Just in case you're feeling overwhelmed, now's the time to make sure you're also taking a little time for yourself. The endless hours can be a drain; make sure you're getting enough sleep, eating well (pizza, donuts, and Red Bull do not a good diet make), and taking your vitamins. Your clients need you to be in fighting shape, and you owe yourself a healthy regimen if you're going to make it to April 15th.

If you are studying for the CPA exam, you may want to take a break from studying until after April 15th. CPA Review course providers (at least this CPA Review course provider!) understand what busy season can do to an exam candidate - if you need a break but don't want to lose access time, go ahead and contact your CPA Review course about putting your course on hold through April 15th.

If you're one of the lucky ones who works outside of tax, now is the time to start pursuing your CPA license while everyone else is running around like chickens with their heads cut off! We here at Roger CPA Review, in honor of tax season, have discounted our Live course to $1695 for all four parts to allow you to get a jump on studying for the exam. If you're in the midst of busy season, don't worry, this special pricing is good until April 30th, allowing you time to wrap up tax season and leap right into the CPA exam.

Last but not least, reward yourself after April 15th for a job well done! Though everyone's pursestrings have tightened these days, that shouldn't deter you from patting yourself on the back through a little gift. At the very least, take a day off!!