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How many more tax preparers will retire?

PATAX
Level 9
  • 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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IRonMaN
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. ๐Ÿ˜ฌ

Barber! Why didn't I think of this before? Getting paid to give out bad tax advice - need I say more? I've run with scissors for years so it is a natural fit.

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30 Replies 30
Just-Lisa-Now-
Level 15
Level 15
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.

โ™ชโ™ซโ€ข*ยจ*โ€ข.ยธยธโ™ฅLisaโ™ฅยธยธ.โ€ข*ยจ*โ€ขโ™ซโ™ช
PATAX
Level 9

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

rbynaker
Level 11

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

PATAX
Level 9

Hahaha๐Ÿ‘

dkh
Level 11

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 5

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

IRonMaN
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. ๐Ÿ˜ฌ

Barber! Why didn't I think of this before? Getting paid to give out bad tax advice - need I say more? I've run with scissors for years so it is a natural fit.

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dkh
Level 11

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.


ex-AllStar
Camp1040
Level 8

I had one call today concerning where is my stimulus, I hung up on them! Only because it was a relative!!๐Ÿ˜‚

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
Level 9

Some people just do not have any common sense and it would be better for them to leave... Just my opinion๐ŸŒณ๐Ÿ‘๐Ÿค“

PATAX
Level 9

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...๐Ÿคฎ๐ŸŒณ๐ŸŒณ๐ŸŒณ

JRC
Level 5

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

PATAX
Level 9

Oh no...๐ŸงŸโ€โ™€๏ธ๐ŸงŸโ€โ™‚๏ธ๐ŸงŸโ€โ™€๏ธ it looks like the zombies got you...

PATAX
Level 9

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

JRC
Level 5

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
Level 9

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 5

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...

dkh
Level 11

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
Level 9

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...

pamdory
Level 7

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
Level 9
Yep a combination of factors has made it more difficult for existing tax preparers...
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. ๐Ÿ˜

PATAX
Level 9

.... 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
Level 8

Thanks. Fortunately I excel at doing absolutely nothing. ๐Ÿ˜Š

rbynaker
Level 11

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
Level 9
 
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PATAX
Level 9

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
Level 13

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

PATAX
Level 9

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...

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