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April 2022

10 | 8 insights from top-
performing CAS practices
Leaders from the top-performing
CAS practices in the Client Advi-
sory Services Benchmark Survey
discuss the factors that led to
their success. They offer advice on
streamlining technology, identifying IRS offers further K-2/K-3 relief
ideal clients, adopting the right IRS identifies paused taxpayer notices
billing methods, and more. Tax pros share IRS service challenge
stories, solutions
16 | How CPA financial planning IRS backs away from facial
firms can move forward recognition
post-pandemic ‘Quick’ carryback tax refunds took
The pandemic saw the rise of nearly double the 90-day deadline
remote technology, changing the
way CPA financial planners interact 32 | Technology Q&A
with clients. It also spurred clients This month’s column walks you
and CPAs to rethink their life and through all the special ways you can
career goals. CPA financial planners paste text, data, and even applica-
talk about how their practices are tion capabilities in Excel.
responding to these trends.
38 | The Last Word
22 | Helping retirement plan Elisabeth Sandersfeld, CPA,
participants understand CGMA, the CFO at Continental
their net worth Western Group, Berkley Agribusi-
Two easy mistakes seen in retire- ness, and Berkley North Pacific,
ment planning involve inaccu- talks about risk and planning for
rately valuing future income from the unexpected.
This month’s TOP STORIES pensions and making improper
net-worth comparisons.
4 | How accounting COLUMNS
TOP RIGHT: IMAGE BY YURIY ALTUKHOV/ISTOCK; BOTTOM RIGHT: PHOTO BY DAVID K. PURDY/AP IMAGES
firms deal with hybrid
working 28 | Tax Matters
Mortgage interest credit aids
ON THE COVER: PHOTO BY IDEEONE/ISTOCK; TOP LEFT: PHOTO BY HALFPOINT/ISTOCK;
Five firms show how they are tackling first-time homebuyers
the challenges of going back to the Losses from millionaire’s donkey
office. breeding allowed

AICPA: Where to turn

Member Service Center AICPA Technical Hotline Coronavirus tax resources
1-888-777-7077 1-877-242-7212 Visit aicpa.org/topic/tax/covid-19-tax
Or chat with us at www.aicpa.org 9 a.m.–8 p.m. ET, Monday–Friday to stay current on pandemic-related
Chat and phone service available us.aicpa.org/research/technicalhotline.html tax developments and communicate
9 a.m.–8 p.m. ET, Monday–Thursday The hotline is available for questions about the changes to your clients with
and 9 a.m.–6 p.m. ET, Friday accounting, auditing, and attest, including new specialized resources from the
A&A implications of the pandemic. A live AICPA Tax Section. A chat feature is
chat feature is also available. available.

journalofaccountancy.com April 2022 | 3