ANALYSIS: Global Tax Talent Shortage Mounting into ‘Perfect Storm’

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Good for talent; tough for employers: Retirements, turnover, and outsourcing.

By Rick Telberg
CPA Trendlines

“Change is coming to the tax profession potentially as a ‘perfect storm’ in 2017,” according to some leading executive recruiters, explaining the upcoming tax reform is still unknown but will likely result in tax professionals needing to quickly change and adapt to new rules and regulations.

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“Additionally,” they say, “U.S. corporate tax departments will potentially explore outsourcing arrangements. Citing the arrangement between PwC and GE, they ask, “Is this a one-off situation or a transformational trend?” In the PwC/GE deal, GE hived off its tax department to PwC, which then assumed the GE tax department’s activities as an outsourcing engagement.