Busy Season Barometer

Concerns Take Curious Shifts as Tax Season Closes

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Businessman with laptop and papers

Some worries grew unexpectedly worse.

By CPA Trendlines Research

Back in the couple of months preceding the tax season, preparers were expressing three main concerns:

  • 51 percent were nervous about late or unprepared clients.
  • 45 percent were cringing at the thought of dealing with the IRS.
  • 40 percent felt the pressure of staff shortages.

MORE Barometer: Tax Season Faceplant: Accountants Overrun by Late Chaos | Accountants Turn Negative Amid Tariffs, Trade, Uncertainty | What CPA Firms Could Do Better | SURVEY: Which Client Industries Will Grow This Year | Tax Preparers Share Advice for Your Clients | Staffing, Tech, Prices Top Tax Pros’ Concerns | Tax Pros Gear Up for a Better Busy Season | Tax Season 2025 Begins. Ready or Not.
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The numbers come from the CPA Trendlines Busy Season Barometer, which launched its nationwide survey just after Thanksgiving.

As the season wore on, more respondents contributed their perceptions and opinions, and the Barometer started picking up a curious shift. As the end of the season approached,
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Tax Season Faceplant: Accountants Overrun by Late Chaos

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Businesswoman with headache at laptop

 

Technology and the economy threw some wrenches into the mix.

By CPA Trendlines Research

This year’s tax season seems to have been pretty good, according to the latest from the CPA Trendlines Busy Season Barometer, though not quite as good as expected.

Survey respondents went into the season with cautiously optimistic expectations. The percentage who felt that this year they were better prepared for the three-month grind remains constant at about 46 percent, comparing December/January with early April.

MORE Barometer: Accountants Turn Negative Amid Tariffs, Trade, Uncertainty | What CPA Firms Could Do Better | SURVEY: Which Client Industries Will Grow This Year | Tax Preparers Share Advice for Your Clients | Staffing, Tech, Prices Top Tax Pros’ Concerns | Tax Pros Gear Up for a Better Busy Season | Tax Season 2025 Begins. Ready or Not.
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But many who figured they were as prepared this year as ever were apparently in for a sad surprise. Before the season, 41 percent said they were prepared as well as in 2024, but that number plummeted to 25 percent by April. The shift is toward the “worse” end of the scale, with the “much worse” response doubling from 3 percent to 6 percent, and “somewhat worse” nearly doubling from 11 percent to almost 20 percent.
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Accountants Turn Negative Amid Tariffs, Trade, Uncertainty

By

man holding umbrella while standing in stormy ocean

Survey respondents aren’t shy about placing blame.

Launch survey here

By CPA Trendlines Research

If you’re getting a little nervous about the general business environment, you’re not alone.

The 2025 CPA Trendlines Busy Season Barometer has picked up a serious swing toward pessimism among the professionals who know the numbers.

MORE Barometer: What CPA Firms Could Do Better | SURVEY: Which Client Industries Will Grow This Year | Tax Preparers Share Advice for Your Clients | Staffing, Tech, Prices Top Tax Pros’ Concerns | Tax Pros Gear Up for a Better Busy Season | Tax Season 2025 Begins. Ready or Not. | MORE Surveys & Research
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Before the inauguration, the outlook for the nation’s economy was moderately hunky-dory. Almost 60 percent of respondents predicted the economy would get better over the next 12-18 months. Only 26 percent figured it would get worse.

Pessimism Doubles

That was then. This is now. By the Ides of March, 68 percent saw an economic downturn, and only 21 percent were optimistic. Now, by the second week of April, 74 percent are hunkering in the pessimist camp. In fact, the share of those who fear things will get “much worse” has doubled from 14.5 to 29 percent.

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