Paying For The Stimulus – In More Ways Than One

In this article, we discuss the implications of COVID-19 stimulus packages on the tax industry. We identify two major ramifications:

• Increased workload: We predict a significant increase in tax work across compliance, provision, planning, and auditing at all jurisdictional levels due to anticipated tax increases to pay for stimulus measures.
• Diminishing budgets: We note that tax departments are under pressure to do more with fewer resources due to overall budget constraints.

However, we highlight a silver lining: the shift to remote work has opened up opportunities in the "Talent Economy" for tax departments. We explain that:

• The success of remote work during the pandemic has demonstrated the feasibility of using remote consultants.
• This allows tax departments to access a wider pool of talent nationwide at potentially lower costs than traditional consulting firms.

We promote TaxForce as a solution, describing it as a platform that connects tax departments with vetted remote consultants, offering high-quality talent at lower costs than Big4 firms.

Overall, we present the Talent Economy as a way for tax departments to manage increased workloads and budget constraints by leveraging remote consulting talent.