Tax Season 2020 has come & gone & like last year, it was full of moving pieces. Between new stimulus payments, crippling winter storms in the south & more filing extensions, tax professionals have been through the ringer keeping up with it all.  Joining us on the blog today is Brett Rosser, the President of the National Association of Tax Professionals Board of Directors.  Brett shares his thoughts & take-a-ways from the past two tax seasons & what lies ahead.

TaxAct Professional

Can you share your top three takeaways from the past two tax seasons given the changes tax preparers have encountered?

Brett

  1. Having the support & backing of a tax professional association gave me the confidence that I always had access to the latest guidance & tax law changes. NATP kept me & our members up to date with the latest on the American Rescue Plan with weekly news updates & a last-minute update webinar.
  2. Tax pros & clients can be adaptable to new technology. Many of our members have turned to online client meetings & will not turn back. Online meetings allow for screen sharing, efficient meetings, expanded time offerings to clients & the ability to keep meetings to the planned time frame.
  3. Tax professionals continue to offer clients more than just tax return prep. Many of our members helped their clients tax plan through tough life situations – divorce, death, business closures. Also, many helped businesses complete PPP & EIDL paperwork & continue to help with payroll tax credits. The profession is evolving, allowing for the tax professional to offer many more services to clients.

TaxAct Professional

How have the past two tax seasons changed the industry forever? In turn, what do you believe will go back to the way it was pre COVID; if anything?

Brett

As I mentioned before, meetings with clients will never be the same. When clients are open to online meetings, tax pros can easily hold meetings throughout the year to touch base, do additional tax planning and offer more services, which means they can earn more revenue throughout the entire year. That is not to say that in-person meetings will go away completely, but the virtual options will definitely remain. One thing that does not change is the trust that our clients put in us to help them through the challenges & confusion that sometimes comes with meeting their tax obligations. We continue to be their trusted partner.

TaxAct Professional

What have you learned about the tax industry that you might not have if COVID-19 did not happen?

Brett

I have always known that we tax professionals must be adaptable to change to support our clients, but this past year proved how exceptionally resilient tax pros truly are. Our members supported each other during the initial shutdown & the many changes that followed. In addition, our chapters hosted online meetings to brainstorm ways to adapt their firms & update each other on state changes & requirements.

TaxAct Professional

What is one piece of advice you would pass along to fellow tax professionals as extension season wraps up in the fall & we look ahead to Tax Year 2021?

Brett

There is a lot going on in the profession right now:

  • IRS notices regarding changes on returns (unemployment adjustments, incorrect EIP reported).
  • Delay in return processing & incorrect notices.
  • Opportunities for amended returns to claim credits.
  • CTC payments starting in July & tax planning opportunities.
  • Future increased IRS enforcement.
  • Resurgence of support for tax preparer regulation.

Now is a great time to join NATP & receive the unmatched support from the nation’s largest tax association for tax professionals.

Meet Brett Rosser…

Brett Rosser, EA, is the current president of the NATP National Board of Directors. Rosser has been an active member since joining the organization in 2001. Among his many positions of leadership are Texas chapter treasurer and president. In 2014, Rosser was elected to the National Board and has since held positions including Finance Committee member, vice president and in 2020 was elected to lead the organization as its president. 

Members of the NATP Board of Directors help set the standard for excellence and integrity in the tax industry. Our board members build relationships, identify challenges, and develop solutions.

Rosser owns Rosser Financial Services, LLC, a full-service bookkeeping and tax service in Canyon, Texas. He is also employed by TaxAudit, the largest tax representation provider in the country, where he assists audit clients. 

Rosser, a former law enforcement officer, has a police science degree from Sam Houston State University and holds the designation of enrolled agent.