Anyone have insight on what changed in the tax industry that guarantees lay-offs are coming? Just curious bc the entire 2020 tax year will be busy season for me. Is it just me that feels like tax cpas are underpaid to begin with?! Always understaffed and overworked? Who would agree to a 20% pay cut in a senior or staff position?! Id take the opportunity to make career changes but unfortunately work for myself.

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At my firm, it’s not that we’re not busy but cash collections are taking longer and more clients requesting payment plans. Extended tax deadline meant less work during March and April. Less consulting work outside of tax compliance. Our auditors are not out in the field due to shut downs so no work, no money. I think most people feel they are underpaid across all fields. As for pay reduction, I got one and took it since it’s too tough to find a job right now so a job is better than no job.

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