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Practice Management Feature: Managing Extensions

Practice Management feature for March Tax Section monthly newsletter on Managing Extensions. Compressed tax filing seasons are quickly becoming the “norm” rather than the “exception” as the most recent years indicate. As such, firms should consider establishing procedures that anticipate higher rates of extensions and streamline the tasks involved. This should include work flow strategies specific to the steps involved in the preparation and filing of extensions, and communication strategies to help clients understand the rules regarding extensions and the firm’s expectations in terms of timing and process.