The Ledger: Tax Season Reflections

Doug Reiling, CPA
Executive Director

The tax and accounting profession is under real pressure right now. We feel it most during tax season, when there are simply not enough hours in the day to serve everyone as quickly as we would like. We read about it in industry publications, and we hear it directly from new clients who are moving to us from other firms. The common thread is simple; there are not enough CPAs. 

As the work piles up, firms are forced to make hard choices. The first thing that seems to give at many firms is communication. We regularly hear from new clients that their previous accountant stopped returning calls or emails, especially during tax season. That’s not a compromise we’re willing to make at Centennial Tax & Accounting. When clients reach out, we respond. Consistent communication isn’t a bonus feature. It’s a basic expectation. 

The next compromise we’re seeing is more troubling. We continue to meet new clients who arrive with returns prepared elsewhere that contain errors. We can’t know exactly what’s happening inside other firms, but it seems some must be loosening quality controls just to keep up with workload and deadlines. That is a trade‑off we refuse to make. We put our names on every return we prepare, right alongside our clients’. Accuracy matters. We will always perform a full quality‑control review, even when that means returns take longer to complete. 

That commitment is one of the reasons we file extensions. We’re not immune to the challenges facing our industry. We’re just intentional about where we’re willing to compromise. Doing the work right matters more to us than doing it fast. Extensions are also driven by factors beyond our control; tax laws continue to change, often late in the process, and tax documents continue to arrive later each year. Even so, we’re proud to share that we filed 27% fewer extensions this year than last. Investments we’ve made in staffing and technology are starting to pay off. 

Those investments do increase costs. With fewer CPAs available, firms are paying more for talent. Secure technology has never been more expensive, and inflation has raised the cost of nearly everything else too. Industry‑wide, fee increases of 5% to 10% year over year have become common. We’re proud that for the overwhelming majority of our clients, our increases landed near the bottom of that range, with far fewer clients seeing major price hikes this year. 

Looking ahead, we’re especially excited about our internship program. Over the past three years, we’ve hired three full‑time tax preparers directly from this program. These bright young professionals, and the rest of our junior staff, are capable and learning quickly. They’re freeing up our CPAs to focus on the work our clients need most. As they gain experience and work toward licensure, we believe our staffing gap will meaningfully narrow in the coming years. 

All this hustle and adaptation is done in service of our clients, who are what matter most to us. We’ve been truly grateful for the positive feedback so many of you shared this tax season. Whether it’s a kind email after picking up returns or a thoughtful review online, that feedback reminds us why we do what we do. Thank you for your patience and trust as we continue working to serve you well in a changing profession.