Drake Tax Rated Highest for Handling TCJA Changes, Overall Satisfaction, and More
Many predicted the tax year 2018 filing season would be turbulent due to the changes implemented in the Tax Cuts and Jobs Act. One of the factors contributing to tax professionals’ uncertainty came from worrying whether their tax preparation software would get it right. This week, we learned what CPAs across the country thought when the Journal of Accountancy (JofA) released the results of their “2019 Tax Software Survey.”
Aside from addressing the TCJA-sized elephant in the room, JofA asked respondents to rate their tax software in categories ranging from the quality and availability of technical support to overall performance. In short, they wanted to know about every major aspect of the products CPAs used to prepare tax returns.
As in previous years, Drake Tax performed exceptionally well, receiving the highest marks in 12 categories:
- Overall Rating
- Ease of Updates and Installation
- Ease of Use
- Handling Updates During Tax Season
- Transferring Data Within Returns
- Ease of Electronic Filing
- Handling Multistate Business Returns
- Ease of Receiving Technical Support
- Quality of Technical Support
- Most Recommended for New Practices
- Handling of the TCJA
2019 marks the sixth year in a row that Drake Tax was rated highest in Overall Rating, Ease of Updates and Installation, Ease of Use, Handling Updates During Tax Season, Ease of Electronic Filing, Most Recommended to New Practices, Price, and Support. Speaking of support, not only was Drake Tax rated the highest for Quality of Technical Support (4.5 stars), it was far and away the leader of the pack in Ease of Receiving Technical Support (4.8). In fact, no other tax software even received four stars in either category.
CPAs Report Fewer Clients Affected by Identity Theft
JofA also asked respondents if any of their clients had their identity stolen over the course of the previous year. 2019 had the lowest number of reported ID theft incidents—just 21% of CPAs said a client had been a victim, compared to 26% in 2018, 43% in 2017, and 59% in 2016. While the industry has made significant progress in preventing tax-related identity theft, Security Summit partners continue to stress how important it is to stay up to date on all data security issues.