Tax & Accounting News

How Independent Tax and Accounting Pros Can Help After Bench’s Shutdown

by
Lee Reams II
on
12/30/2024
How Independent Tax and Accounting Pros Can Help After Bench’s Shutdown

Heads up, business owners! The accounting world is in meltdown mode right now, thanks to the sudden shutdown of Bench. According to TechCrunch’s recent report, thousands upon thousands of entrepreneurs are losing access to their financial records and tax documents—at the worst possible time.

So what does this mean for you? In short: everything. If you’re a Bench user, you’re probably scrambling to download your data, figure out your next steps, and ensure you’re not behind on any filing deadlines. If you’re not a Bench user, this is a big flashing sign that relying solely on software without humans in the loop can leave you high and dry. Let’s talk about why—and what you can do.

The Dangers of the “Black Box” Approach

1. No Human to Call -- Sometimes you just need a person. Software is great… until it fails. Then you’re stuck dealing with a faceless “support” system. With Bench gone, thousands of business owners have no direct line to an actual person to help them recover lost data or handle complicated tax questions.

2. Data Prison -- Your financial data is everything. It’s your history, your present, and your future. How do you prove your expenses if you’re locked out of the platform that holds that data? How do you handle an audit? How do you file an extension? A black-box platform that suddenly goes dark can leave you in serious compliance trouble if you don’t have a backup plan.

3. Lack of Accountability -- When you rely on a non-personal software platform, you risk missing out on the accountability that comes with working with a real pro. An independent tax or accounting professional has a reputation to uphold, is often registered with regulatory bodies, and can’t just disappear into the night.

The Hero: Independent Tax and Accounting Professionals

Cue the real pros—the CPAs, enrolled agents, and independent bookkeepers who know the ins and outs of the tax code, accounting standards, and critical compliance deadlines. Here’s how they can help you survive this nightmare scenario:

Data Retrieval: Professionals can offer expert guidance on where to locate missing records (e.g., bank statements, credit card transactions, payroll logs). If your software is AWOL, you still have paper trails and digital breadcrumbs elsewhere—your accountant can help piece it all together.

Filing Extensions and Meeting Deadlines: Many business owners are left in a panic as tax deadlines approach. A local independent accounting expert can help you file the necessary extensions and ensure you stay on top of ongoing reporting requirements.

Future-Proofing Your Finances: Want to avoid reliving this fiasco? A pro can steer you toward solutions that combine the best of both technology and personal support, so you never again have to worry about being locked out of your own data.

GettyImages-1263581796_resized_accounting
Boonchai Wedmakagong/Getty Images

Where to Find Help Right Now

Check Out TaxBuzz.com

TaxBuzz.com is a directory of 5-star accounting and tax professionals who can jump in and save the day. Filter by location, specialty, or rating to find a rockstar who’s ready to help.

Contact Your State Board of Accountancy

If Bench’s shutdown left you in the dark, your state’s accountancy board might be able to point you toward certified professionals ready to help you get back on track.

Lean on Your Network

Ask around. Referrals from fellow business owners often lead to trustworthy accountants who’ve already proven their value (and who pick up the phone when you call).

Next Steps If You’re Affected

Download Whatever You Can

If you still have a window of access, grab those records. Statements, receipts, invoices—everything.

Secure Your Banking Records

At a minimum, make sure you have your bank and credit card statements. An accounting pro can reconstruct a lot from these.

Book a Consultation

Connect with a reputable accountant who serves your area ASAP. They can help you file an extension, estimate tax payments, and steer you away from compliance landmines.

Lesson Learned: Technology + Humans = Peace of Mind

If there’s one takeaway from this fiasco, it’s that no software or AI can replace the value of real human expertise. An algorithm won’t hold your hand during an audit or reassure you when tax season panic sets in. You need a pro who can strategize, explain, and ultimately take responsibility for guiding you in the right direction.

Bench’s downfall is a wake-up call. Don’t let this happen to you. Stay compliant, stay informed, and stay in control of your financial future by partnering with a trusted independent tax or accounting professional. With humans in your corner, you’ll be ready for any challenge—software failure included.

Need help now? Head to TaxBuzz.com to connect with a 5-star professional who can pick up the pieces and get your books back on track. You’ll thank yourself come tax time.

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Lee Reams II

Lee Reams II

CEO

I am a tax and business news junkie who has spent the last 20 years developing and executing "best in class" word-of-mouth marketing campaigns for tax and accounting professionals. With TaxBuzz and CountingWorks we have taken that same commitment to quality content directly to the consumer. Keeping you up-to-date with the latest tax law changes, business growth tips and planning strategies to help you reach your best financial outcome.

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