I wonder how many tax preparers will be left working after this tax season. It wasn't too long ago that I believe there were aproximately 1.2 million plus tax preparers. We are now around 700,000 or so , although the exact number is not clear because many individuals with a Ptin have multiple designations. My opinion is the same time next year there will be less than 600,000 tax preparers left working. My question is after there is a tax preparer shortage, who will "administer" all the "social programs" run through the tax returns?

PATAX

Level 12

Solved

How many more tax preparers will retire?

Forum|Forum|5 years ago
March 13, 2021
42 replies
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I wonder how many tax preparers will be left working after this tax season. It wasn't too long ago that I believe there were aproximately 1.2 million plus tax preparers. We are now around 700,000 or so , although the exact number is not clear because many individuals with a Ptin have multiple designations. My opinion is the same time next year there will be less than 600,000 tax preparers left working. My question is after there is a tax preparer shortage, who will "administer" all the "social programs" run through the tax returns?

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Best answer by IRonMaN

How many are going to retire????? How many are going to drop dead at their desks? You might be better being one of those "newbies" because there is no stress because they are clueless as to what is going on around them. I was expecting a tax season similar last tax season. Who would have ever guessed that it would be worse. But the good news is, the new round of stimulus payments are coming out. Now you will be able to fill your dead time taking calls from clients wondering why they haven't received their stimulus payment yet. 😬

Just-Lisa-Now-

Intuit Community Champion

Tons of newbie young preparers out there getting their EAs!

Apparently its a "thing" to get your EA before you've ever completed the preparation of a tax return.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

PATAXAuthor

Level 12

Wait until the greenhorns finally start working, then we will see how enthusiastic they are..just my opinion.

rbynaker

Level 13

It will all be handled by Costco. I saw a documentary a few years ago called "Idiocracy".

PATAXAuthor

Level 12

Hahaha👍

dkh

Level 15

I want to get in the line with those retiring. Or at least change the focus of my business - less tax returns more accounting.

JRC

Level 7

I'm doing the reverse doing more taxes (individual) and less Accounting.

IRonMaNAnswer

Level 15

How many are going to retire????? How many are going to drop dead at their desks? You might be better being one of those "newbies" because there is no stress because they are clueless as to what is going on around them. I was expecting a tax season similar last tax season. Who would have ever guessed that it would be worse. But the good news is, the new round of stimulus payments are coming out. Now you will be able to fill your dead time taking calls from clients wondering why they haven't received their stimulus payment yet. 😬

Slava Ukraini!

dkh

Level 15

I had several of those ridiculous calls yesterday. How much? When? and then of course.. Well I don't really need it? Then why are you bothering me? My favorite calls start with " I know you're busy....." then this 'all about me' client proceeds to take up my valuable time

sjrcpa

Level 15

There's something to be said for letting it go to voicemail.

The more I know the more I don’t know.

JRC

Level 7

The way things are going I probably wont be doing this in a few years. I am having trouble just to keep up with the changing laws and regulations. Last year I must have put in more than 100 hours of education and was still not fully up to date on the new changes. In my area alone 4-6 preparers/businesses closed and or retired. I am picking up 1-2 new clients daily now.

I'm wanting to get me one of those government jobs where I can stay home and collect a paycheck with zero responsibility! (Dream Job)..

PATAXAuthor

Level 12

Used to be a couple of dozen tax preparers in area. Now down to a handful. Free e-file and vita get a lot of business , especially the easier returns and we are left with the more difficult returns...just my opinion..

JRC

Level 7

Agree, many come in with difficult returns to prepare for the year and never see them again. Always wondering if I should charge more or less for these types thinking I scared them off.. Had one couple come back this year after doing last year's taxes with a home sale and purchase. They came back after husband argued to have me do them again!... HAHA...

P

PamC

Level 6

Lots of retired preparers in my area since tax reform. I turn work away every day and have no one to refer them to. And three weeks ago the Oregon Board of Accountancy sent letters to firm owners emphasizing that we are barred from hiring a CPA without a license due to lapsing or retirement for any accounting function. Even if it's for non-accounting work you have to get written permission from the Board of Accountancy.

PATAXAuthor

Level 12

Yep a combination of factors has made it more difficult for existing tax preparers...

T

The-Tax-Lady

Level 8

I'm out. Opened 10 years ago as a retirement gig but 2019 and 2020 have really taken all the fun out of it.

A client that has been with me since day one asked for his documents back because I was not getting his complex return done fast enough. He got them back and a "good bye" from me.

2021 looks like tornado headed straight towards us so I'm taking shelter in actual retirement. 😏

BobKamman

Level 15

There are just as many preparers as ever. Just not as many who sign returns.

PATAXAuthor

Level 12

I have to respectfully disagree with you Bob... There are nowhere near 500,000 non-signing preparers... Most of the non-signing preparers have small-time operations... Most of the legitimate tax preparers who quit or retired or passed away had much larger operations...

D

DA_Truth

Level 2

This is such a good point. The EIC has always been a thorn in my side. I'm a CPA not a social worker. Don't get me started on the fraud and bleeding $$$$ for a program that could/should merit being moved to a social service function. I'M OUT AFTER LAST YEAR. I will not renew my PTIN. I partially blame Congress for not allowing the service to test potential preparers for competency. The trash needs to be taken out. And to the person that said how many new EA's are entering the force. Good luck to you! You have never been trained/worked in a manual environment. You rely, way too much, on the software. Often never understanding the calculations or drilling down to grasp the details. If you folks want to be a quality practitioner, thinking is not optional. If it's just going to be keying data into tax software and assuming everything is correct and more importantly optimized, then your service is clerical. The IRS and the client will suffer when the quality folks are driven out of the field(individual income tax). That's not a if, but when.

ljr

Level 9

I'm also getting a call a day asking if we are taking on new clients as their preparer decided to retire or call it quits. Unfortunately I have to stick this out about another decade or so - I hope I don't lose my mind by then.

And we all know that any call starting with I know you're busy or I have a quick question means you should go get a cup of coffee first - it's going to be a long call. My husband bought me a small crystal ball for my desk as a joke which I used when I got the where is my stimulus payment calls. This Christmas I'm asking Santa for a little red phone I can put on my desk as a hotline to the IRS.

BobKamman

Level 15

@ljr "decided to retire or call it quits."

Is that a euphemism? I got an email last week from a client, asking for a friend who is looking for a preparer because the last one died.

Didn't ask if it was Covid. Just declined, because taking on any more work would be hazardous to my health.

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