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Art Werner: Busy Season Predictions for 25-26 | Quick Tax Tip
Manage episode 458971129 series 2907093
Learn why the upcoming busy seasons could be among the most demanding in recent memory.
Quick Tax Tip
With Art Werner
According to seasoned tax educator Art Werner, the next busy season may be the last of what he calls a "lull period." Preparers are currently working under existing laws, dealing with the tax returns for the 2024 calendar year. However, significant changes are expected on the horizon.
Click here for more Art Werner
“The fact is, busy season in 2025—and especially 2026—will require a lot of knowledge of new laws,” Werner explains. He anticipates that navigating these updates will pose a steeper learning curve for tax preparers, resulting in more complicated filing seasons.
One of the primary drivers of this complexity will be legislative changes. With uncertainty around tax reform and the evolving tax landscape, 2025 could see the introduction of new regulations that tax professionals will need to quickly master.
“When you get to busy season, you’re in this historic mode,” Werner said. “You’re preparing tax returns based on the old law. But by 2026, you’ll need to know all the nuances of the new law.”
279 episodios
Manage episode 458971129 series 2907093
Learn why the upcoming busy seasons could be among the most demanding in recent memory.
Quick Tax Tip
With Art Werner
According to seasoned tax educator Art Werner, the next busy season may be the last of what he calls a "lull period." Preparers are currently working under existing laws, dealing with the tax returns for the 2024 calendar year. However, significant changes are expected on the horizon.
Click here for more Art Werner
“The fact is, busy season in 2025—and especially 2026—will require a lot of knowledge of new laws,” Werner explains. He anticipates that navigating these updates will pose a steeper learning curve for tax preparers, resulting in more complicated filing seasons.
One of the primary drivers of this complexity will be legislative changes. With uncertainty around tax reform and the evolving tax landscape, 2025 could see the introduction of new regulations that tax professionals will need to quickly master.
“When you get to busy season, you’re in this historic mode,” Werner said. “You’re preparing tax returns based on the old law. But by 2026, you’ll need to know all the nuances of the new law.”
279 episodios
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