Industry Analysis & Industry Trends
Demand for tax preparation services has been restrained over the five years to 2013 due to falls in employment and income levels. In addition, consumers have opted to do their own taxes to save money, using a growing number of free options and at-home software products. While employment and income levels are forecast to pick up and stimulate industry demand, tax preparers will still face strong competition. Nonetheless, a new IRS regulation and expansion of industry services will lead to modest revenue growth... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
In the 10 years to 2018, the Tax Preparation Services industry is expected to grow roughly in line with the overall economy. During that time, IBISWorld estimates that the industry's contribution to the economy, measured by industry value-added (IVA), will increase at an average annual rate of 0.9% while GDP will grow about 2.1% annually. IBISWorld projects that the industry is moving into the mature phase of its life cycle. Although the industry has experienced long-term growth, industry growth has slowed in recent years because market saturation has been reached and competition from other industries has risen.
The industry has faced an increasing amount of competition from software publishers that provide consumers with the tools needed to prepare their own taxes... purchase to read more