Accounting Today - - Opinion -

Frank Fio­r­ille Vice pres­i­dent of risk, com­pli­ance and data an­a­lyt­ics, Pay­chex

What are the biggest chal­lenges fac­ing tax pre­par­ers next tax sea­son?

For ac­coun­tants ad­vis­ing small busi­nesses, one of the biggest chal­lenges they face is peren­nial ­— mak­ing sure their clients have gath­ered all the nec­es­sary records to pre­pare taxes. If busi­ness own­ers aren’t fully pre­pared or have ac­cess to a cen­tral­ized sys­tem which tracks their em­ployer-re­lated tax re­spon­si­bil­i­ties and ex­penses, fil­ing taxes be­comes an even more time-con­sum­ing process for both the busi­ness owner and their CPA — and there is an in­creased risk of mis­takes.

Tax pre­par­ers should help en­sure that the busi­ness own­ers are com­ply­ing with all fed­eral, state and lo­cal tax re­quire­ments. In re­sponse to tax re­form at a fed­eral level, many states and mu­nic­i­pal­i­ties are mak­ing changes to their tax laws that must be re­flected in the up­com­ing tax sea­son.

How will you help them face those chal­lenges?

In ad­di­tion to hous­ing eas­ily ac­ces­si­ble, com­plete pay­roll records for busi­nesses, with ac­coun­tant ac­cess granted at the client’s re­quest, Pay­chex tracks reg­u­la­tory changes at the fed­eral, state and lo­cal level and quickly in­cor­po­rates rel­e­vant up­dates into our pay­roll sys­tem. Pay­chex clients can be con­fi­dent in the ac­cu­racy of their re­port­ing and that our sys­tems re­flect the most cur­rent and up-to-date em­ployer with­hold­ing guid­ance.

Pay­chex makes it sim­ple for busi­nesses of all sizes to pay and man­age their em­ploy­ees. We re­lieve the com­plex­i­ties of pay­roll, HR, re­tire­ment and in­sur­ance ad­min­is­tra­tion, so our clients can fo­cus on what mat­ters most. Through our unique com­bi­na­tion of in­dus­try-lead­ing tech­nol­ogy and per­sonal ser­vice, we work with clients the way they want — on­line or via their mo­bile de­vice, over the phone or in-per­son — and we ex­tend that same level of ser­vice and flex­i­bil­ity to our ac­count­ing part­ners. With four decades of ex­pe­ri­ence and over 650,000 clients, we’re proud to be the pre­ferred provider of pay­roll, HR and re­tire­ment ser­vices for AICPA mem­bers and their clients.

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