2022 PCPS CPA Firm Top Issues commentary: Holding firm in taxing times
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2022 PCPS CPA Firm Top Issues commentary: Holding firm in taxing times

Aug 17, 2022 · 16.8 MB Download

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If the results of the 2022 CPA Firm Top Issues Survey have a clear theme, it’s this: Busy season this year taxed accounting firms to the max.

The well-documented backlog and service problems at the IRS. The ever changing and increasingly complex set of tax laws. The pressure of layered and tight deadlines for the filing of tax returns.

Accounting firms rose to meet those challenges and many others as well, chief among them finding qualified staff and helping clients navigate the many twists and turns of COVID-19 business relief programs.

The interplay of the issues listed above and how they affected firms of different sizes is among the insights offered in the 2022 CPA Firm Top Issues Survey Commentary. The survey, which began in 1997, is conducted by the AICPA’s Private Companies Practice Section (PCPS) and is designed to identify the most pressing challenges firms are facing. PCPS then uses the results to align its resources and training to those areas where firms can most benefit from additional support.

The commentary, written by the PCPS team, provides the following:

  • A table listing the top 25 issues in order based on the voting of all the 752 firms that completed the survey. The table further shows how each issue ranked in each of the five primary firm size categories analyzed in the report.

  • The top 10 issues and analysis for each of the following size categories:

    • Sole practitioners (including those with staff)2 to 5 professionals

    • 6 to 10 professionals

    • 11 to 20 professionals

    • 21+ professionals

  • The top 10 issues for the five size categories. In addition, the commentary for the first time provides additional analysis of the 21+ professionals' category. Because the challenges of a firm with 21 professionals may differ significantly from those of a firm with 100 or more professionals, the commentary includes top 10 lists for three subdivisions of large firms:

    • 21-50 professionals

    • 51-100 professionals

    • More than 100 professionals.

The commentary also provides historical perspective with top five lists for each size cohort dating back to 2017, and it looks to the future with a ranking of which issues the firms expect to impact them most over the next five years.

Download the 2022 PCPS CPA Firm Top Issues commentary

File name: 2022-pcps-cpa-firm-top-issues-commentary.pdf

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