"Thirty percent of tax services will be obsolete in three years."
Robert Hockensmith talks about Tax Season 2019 on local TV news in Phoenix.
By CPA Trendlines Research
This year’s tax season is giving tax preparers a taste of the future—a future where tax returns are both simpler and more complex.
According to data streaming into the CPA Trendlines Busy Season Barometer survey, tax practitioners are just beginning to get a handle on the radical changes wrought by the Tax Cuts and Jobs Act—not just the technical changes to the tax code but the resulting changes to the business of tax preparation.
MORE: The Biggest Reason Fraudsters Run Rings around the IRS | The Big Free-File Flop | The Demise of Schedule A? | Refunds Still Up, but Only by 0.7% | Survey: Busy Season Goes Sour | Tax Refunds Up 1.7% | Lessons Learned: How the Federal Shutdown Hit Busy Season 2019 | Tax Refund Fury Roils Busy Season | Taxpayer Advocate Slams Congress over Funding
Robert F. Hockensmith, CPA, EA, in Phoenix, Ariz., and a website site notably named AZMoneyGuy.com, offers a variety of tax and non-tax services, sums it up thus: “Thirty percent of tax preparation will be obsolete in three years. Clients will want advice and tax resolution more than preparation for 50 percent of taxpayers. And only 50 percent of all tax returns will be prepared by professional tax preparers.”
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