The Tax Industry is Changing…How Will You Survive?

Most simple returns will be self-prepared or handled by volunteer preparers and, probably also by the IRS. Anticipating this trend, over the past 7 years we have phased out virtually all of our “Fast Refund” offices and we will be going into the 2014 tax season with only our five remaining Full Service offices. (Ten years ago we operated 26 locations including temporary offices in malls and leased departments in department stores, etc.). Our focus in recent years has been on preparing the more complex individual and small business tax returns, as well as providing bookkeeping & payroll services and taxpayer representation. Block is already starting to be impacted by this trend as evidenced by their decrease in returns of nearly 1% this year despite their acquisition of many independent tax preparers. There will still be plenty of business for independent tax preparers who serve individual and small business taxpayers with more complex returns