Today marks one year since the coronavirus was declared a global pandemic by the World Health Organization. Travis McMurray reflects on the past year and how grateful BCS is for our wonderful clients.
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As we reflect back on the past year, it is quite extraordinary to digest all the changes that have occurred over the last twelve months. We are now back into full swing of a somewhat “more normal” tax season with normal due dates. With continued uncertainty about the stability of our economy and the future of tax law changes, we are reminded of how very grateful we are for the wonderful clients that BCS has across our four offices. It seems it has been a frustrating season of more questions than answers – particularly with some of the unprecedented government stimulus programs.
We appreciate your patience and grace through this season. With a total workforce of around 140 individuals, we have tried to provide a safe environment for both our team and our clients. We know that the logistics have not been ideal – from leaving information for us in a drop box to exchanging more information electronically. You have also adapted to fewer in-person meetings and more phone calls and zoom meetings. While we have had a few cases of COVID-19 within our BCS family, we have not experienced any serious cases, and for that, we are truly thankful.
[blockquote author=”” link=”” target=”_blank”]The most challenging issue for our profession during this season has been the realization that what might have been good advice last week may now be completely irrelevant this week.[/blockquote]
This past year has also seen a significant number of tax law changes and economic stimulus programs. The pace of new information, and often incomplete information from various institutions, has created an environment of much confusion. Tax credits and federal programs have continued to evolve as time has passed, and we have worked hard to keep up with these changes as they occur. The most challenging issue for our profession during this season has been the realization that what might have been good advice last week may now be completely irrelevant this week due to a new update from the IRS or the SBA. I’m not sure how many times I’ve uttered the words, “the crystal ball is just a lot more murky at this time” when it comes to tax planning. So where do we go from here?
It does appear that we will have our normal tax due dates this year. We will continue to offer alternative options for our clients in both the transferring of information and in interacting with our clients. We can receive records electronically through email or through a more secure portal. We can setup a portal for you or your company or you can send documents directly to our team members by using the link “Click Here to send me documents securely” found at the bottom of any email received from someone in our office. We are also more than happy to schedule meetings through zoom or phone conferences if this better meets your needs. We will continue to provide up-to-date information as it becomes available via our blog. We encourage you to subscribe to our blog here to receive the latest information by email. Furthermore, some tax laws and provisions have changed retroactively and will require us to consider the possibility of filing amended tax returns. We will make every effort to identify those situations which may impact your tax returns and the need to file amended returns.
Again, we thank you for your trust in BCS, and your patience, as we navigate this season together. We will do our best to make sure returns are filed in a timely manner and will work to be proactive in getting pertinent information to you as more guidance becomes available on various tax law changes. The one thing that we are certain of at this point…there will be many more changes to the tax law in the coming years.