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Tax Preparation Services in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Tax Preparation Services Market Research Report | NAICS 54121d | Mar 2014

Paying off: New regulations and expanded tax services will lead to modest revenue growth

IBISWorld’s Tax Preparation Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$10bn
Annual Growth 09-14
1.3%
Annual Growth 14-19
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Profit
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Employment
318,926
Businesses
111,568
Industry Analysis & Industry Trends

Demand for tax preparation services has been restrained over the five years to 2014 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, an expansion of industry services will lead to modest revenue growth... purchase to read more

Industry Report - Industry Products Chapter

Operators in this industry provide tax return preparation services without also providing accounting, bookkeeping, billing or payroll processing. Consequently, tax preparers in this industry primarily provide consumer tax services, including tax preparation and electronic filing. In addition to tax preparation, the industry's largest firms generate revenue through other avenues, including franchise fees and financial service products. Franchise fees are obtained directly from franchise operators for royalties and advertising.

Consumers use tax preparers because they make a necessary task simple. By using a tax preparation service provider, an individual can reduce their taxes and increase their tax refund... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Tax Preparation Services Industry?

Firms in this industry provide tax return preparation services to individuals without also providing accounting, bookkeeping, billing or payroll process services. Although the offices of CPAs are excluded from this industry, basic knowledge of tax law and filing requirements is required.

Industry Products
Basic tax preparation servicesStandard tax preparation servicesFull-service tax preparation servicesTax-related financial products
 
Industry Activities
Income tax compilation servicesIncome tax return preparation servicesTax return preparation services


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