First Quarter Is Lucrative for Tax Preparers
The 2017 tax season officially began on January 29, 2018, when the IRS announced they would begin accepting and processing 2017 tax returns. Many were happy to see it come to a close on April 18, except maybe for one group: accountants and tax preparers.
In 2003, the U.S. Census Bureau began collecting quarterly revenue data for NAICS 5412: Accounting, Tax Preparation, Bookkeeping, and Payroll Services in the Quarterly Services Survey (QSS). Every year since, the percentage change between the fourth and first quarter is the largest quarter-to-quarter change in revenue, averaging a 36.7 percent increase.
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