Consistent with our experience, we have received notification from other CPA firms as well as from the flow-through entities themselves, including some of the largest in the country (i.e. Boston Capital), that there is an increased likelihood that 2018 returns, both individual and businesses, will need to be extended for the current year. This is an industry-wide trend due to several factors.
Because of the changes to the Code and to the forms, much of the information we are receiving is subject to more scrutiny than in recent years. In many cases, we are finding that needed follow up conversations, edits, and corrections may be required which further slows down our process.