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.