To Our Valued Clients & Friends
Tax time is always a crazy and fun time, and this particular tax season was accompanied by some additional opportunities, challenges and uncertainties. This was not only the case for the taxpayer, but also for their CPA’s and the Internal Revenue Service alike.
Some of the fun things we dealt with:
- Many folks got accustomed to the “contactless” tax preparation experience.
- The IRS was struggling with tax changes from COVID related stimulus and law changes, as well as being backed up from COVID shutdowns and other staffing issues.
- There was a 2-week delayed start of filing returns due to challenges the IRS was facing.
- Many taxpayers received unemployment compensation for the first time.
- There were unprecedented IRS and State tax form changes in mid-to-late March.
- Confusion for those working from home during the pandemic but not self-employed.
- Uncertainties and confusion with the Employee Retention Tax Credit, Paycheck Protection Program, and Economic Injury Disaster Loans, plus multiple revisions to these programs over the last 12 months.
- COVID related retirement distributions and the ability to spread the tax impact or repay the distributions over 3 years.
- Refunds were delayed and returns went unprocessed for long periods of time. On top of that, the IRS was working to implement multiple provisions of stimulus legislation.
- The list goes on, and many will exist for some time.
This has been an unprecedent tax season to say the least, and we could not have survived without each other. This is further proof that together we can create the most out of any challenge or opportunity in which we are faced. So, we want to take a moment to extend our sincerest gratitude.
We are incredibly grateful for, and overwhelmed by, the amazing support that we have received from the community, and for everyone who recommended us to their friends, family and colleagues.
We owe everything to our wonderful clients, and we want to THANK YOU for your patience, for your understanding, and for your trust. For your patience as things took a little longer than anticipated. For your understanding when we didn’t have all the answers, simply because the answers did not exist. And, for placing your trust in us as we did our best to navigate through the storm, while keeping your best interest in mind.
From the bottom of our hearts, thank you!
We’re sure the 2021 tax season will have its fair share of challenges, but until then, stay safe and stay happy.
Here’s to a fantastic, stress-free summer. We’ll see you next year!
Sincerely,
Senter, CPA Team
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