Tax Pros Losing Market Share to Self-Filers

Do the math: Pro market shrinks by 2 points.

The nation’s tax professionals have e-filed fewer than 44 million returns through March 21, off 1.3% or 571,000 returns, from the same point past year, while self-filers are running 5.9% ahead of last year, having transmitted 31.7 million returns.

Do the math and you’ll find professionals’ 60% share of the e-filing market last year has slipped to about 58% – a seemingly small amount that, nevertheless, translates into hundreds of thousands of returns and millions in lost revenues. It’s a trend that shows no sign of slowing or reversing, according to CPA Trendlines analysis.