The tax season began, the community started to comply, with tough preventive guidelines to fight Covid-19 and one of the toughest winters this generation has witnessed in the country.
WASHINGTON, DC / ACCESSWIRE / March 20, 2021 / Vaccines started to spread, but we are still a long way from saying goodbye to the pandemic. The IRS began receiving tax returns on February 12 and taxpayers, as well as tax preparers, began this annual process across the country. “Well, the saying goes, only two things are inevitable in this life, death and taxes,” said Nick Maldonado, CEO of Toro Taxes, a Las Vegas-Nevada-based tax preparation company.
In the early 2020s, Oscar Toro, Nick Maldonado, and Javier Solis merged their companies to build the largest Latino franchise in the U.S. with more than 200 locations in more than 25 states of the American Union, without expecting an unprecedented pandemic to bring them the challenge of their lives. The year 2020 was a year of lessons that allowed them to adapt appropriately to the guidelines, with certain cultural barriers that they had to learn to overcome.
While it is well known that technology and digitization have allowed us to overcome many of the challenges that emerged, there were still many in the Hispanic community who did not have basic access to digital tools and smartphones. Multiple community clinics serving the Hispanic immigrant community across the country reported that their beneficiaries were unable to register for vaccination due to lack of personal emails. Many of these centers chose to assist their beneficiaries with obtaining an email and then proceeded to register them for a vaccination appointment.
During the 2020 tax season, multiple tax preparation centers reported that many Hispanic taxpayers preferred to wait until the last moment of the extension to begin the process, as they did not feel comfortable doing their taxes through electronic means. Nick Maldonado said that, while they prepared to comply with preventive measures including masks and protectors, they also implemented the use of digital alternatives, like video calls. “It’s been a transition, Latinos are more about direct contact, so we didn’t replace in-person service, but we opened up additional options. We give them alternatives, it’s not a replacement,” Nick said. “Fortunately, Toro Taxes’ growth projections were not affected, because the tax business does not stop, it is considered essential,” he added.
While tax businesses didn’t stop, Toro Taxes did report that nine new projects in the franchise suffered minor delays, but managed to close them positively, and mentioned that it will be necessary to be proactive and support their teams from start to finish in this process, while still integrating franchisees across the country.
Recently, the Internal Revenue Service (IRS) announced granting an extension until May 17, after a year of difficulties and challenges, giving taxpayers an additional month to process their tax return. It will certainly be a well-received decision from both taxpayers and preparers.
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