Magazine article The CPA Journal

Letters to the Editor

Magazine article The CPA Journal

Letters to the Editor

Article excerpt

DON'T FORGET ELECTRONIC FILING

James Woehlke in his article "The Future of Tax Practice" in the May 1998 CPA Journal did not mention the electronic filing of tax returns. This is the biggest area of expansion afforded to a tax practitioner.

Many CPAs do not realize that a huge market share is waiting for them to tap. H&R Block and Jackson Hewitt have revenues of over $1 billion from just preparing 1040 EZs to 1040s with schedules A and B. The main reason taxpayers use these firms is to obtain their tax refunds as quickly as possible. Electronically filed returns can produce a refund in less than two weeks.

I just completed my fourth year of offering electronic filing to my clients. My business has grown from 150 returns to over 600 during this period of time. I have been attracting clients away from H&R Block and Jackson Hewitt because I offer tax preparation services at attractive rates. …

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