Tax Pros Kick into High Gear

Cumulative statistics comparing 2/22/2019 and 2/21/2020, IRS

Profession accelerates e-flings, but struggles for market share.

The CPA Trendlines Busy Season Barometer:
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By Beth Bellor

Tax professionals are increasing their share of the e-filing market as we plow deeper into tax season. After starting at 34.6 percent and nudging up to 38.1, the latest figure is a healthier 44.3 percent of e-filings, although that’s about a point lower than the year-ago date.

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The IRS, which delayed release of the figures, had received 49.9 million individual income tax returns as of the week ending Feb. 21, the latest data available. That’s down from the same period last year, but only by 0.1 percent. Meanwhile, it had processed 48.1 million returns, up 0.7 percent.