How many more tax preparers will retire?

[PATAX]

• 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?

[Just-Lisa-Now-]

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.

[PATAX]

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

[rbynaker]

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

[PATAX]

Hahaha👍

[dkh]

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

[IRonMaN · Accepted solution]

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. 😬

[dkh]

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]

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

[Camp1040]

I had one call today concerning where is my stimulus, I hung up on them! Only because it was a relative!!😂

You would think if the newbies are mostly EA's they should have a clue, and I sure hope it is not new EA's that are posting some of the most weird questions  this year.

I'm not ready to retire, I'm getting my second shot next week, I'm good until the next Pandora's box!

[PATAX]

Some people just do not have any common sense and it would be better for them to leave... Just my opinion🌳👍🤓

[PATAX]

Iron Man I heard on the news today that people are already going on to their online banking accounts to check to see if they got their $1,400 check ... This is just simply unbelievable... These people act like they are starving. Pretty soon they'll be calling us about this nonsense too... They make me sick...🤮🌳🌳🌳

[JRC]

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)..

[PATAX]

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]

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...

[pamdory]

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.  

[PATAX]

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

[JRC]

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

[JRC]

I Confess and checked my online account!!!!  LOL... 

[dkh]

I'm tired of all the long hours.  Each year I feel the clients are more demanding and less appreciative.  More and more they just want to know the refund amount - could care less to have the return reviewed with them.     And due to the pandemic, I've learned things about my clients that I don't like.

[PATAX]

Oh no...🧟‍♀️🧟‍♂️🧟‍♀️ it looks like the zombies got you...

[PATAX]

I don't know how those gender markers got next to the zombies.. ..Must be part of the zombie identification code or something.

[PATAX]

Dkh you hit the nail on the head... When times get a little tough that is when the true character of an individual comes out... Many people are as phony as a $3 bill and eventually the true character of these Hypocrites comes out...

[The-Tax-Lady]

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. 😏

[PATAX]

.... It is good that client left... unfortunately individuals like him are becoming more and more numerous, which only add to the issues that we have to face. It appears that tax prepares have been put into a crushing meat grinder... Just my opinion... good luck on your retirement

[The-Tax-Lady]

Thanks. Fortunately I excel at doing absolutely nothing. 😊

[rbynaker]

---

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.

Funny story.  I had a client leave last year because I wasn't fast enough and didn't have his return done in March.  No problem, here are your docs back.  I got an email on (no joke, I just looked it up) October 9th!! asking for the prior year depreciation schedule (which was already included in his prior-year tax folder).  If he'd stayed he would have been filed in April.  Glad he was able to find someone who could do a rush job for him and get it done in only six months.

[PATAX]

How much do you want to bet that he paid a lot more tax prep fee since the new accountant had to set up everything, including the depreciation. He got what he deserved...

[BobKamman]

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

[PATAX]

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...

[DA_Truth]

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.

[Accountant-Man]

I can only dream...

:sigh:

[ljr]

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]

@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.  

[PATAX]

Looks like IronMan may have been correct when he asked "how many are going to drop dead at their desks?"....

[DA_Truth]

Never thought I would be happy to decline work and sarcastically say "Good Luck". But I also thought the market for a $10/hr preparer and Liberty Tax was not sustainable. I saw the ball, but whiffed twice.

[IRonMaN]

"Looks like IronMan may have been correct when he asked "how many are going to drop dead at their desks?"...."

I've revised my thought process since that post.  My new question is - how many preparers are going to be in prison for finally snapping and strangling clients that asked the wrong question on the wrong day?

[PATAX]

The less that you have to talk with them then the better.... As I think sjr said thank God for answering machines... If you don't have one get caller ID and let the phone ring.... Most of the phone calls are PIA  bunch of crap anyways... Just my opinion...

[The_AntiTax_Man]

This is a good discussion. Many good points. I enjoy the humor of many of the replies.

[PATAX]

@The_AntiTax_Man sorry about that , the wack phone posted by itself. See below.

[PATAX]

@The_AntiTax_Man this is the best entertainment anywhere. I actually cut the cable cord and just come here for entertainment and I saved about $1,400 a year or so. Not bad.

[IRonMaN]

"this is the best entertainment anywhere"

Shush.  If Intuit finds out that people get entertained here, they will start charging a fast path entertainment fee to use this place.

[The_AntiTax_Man]

@The-Tax-Lady   Nothing to do.  All day to do it.  And some days, I only get it half-done.