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Tax preparation fees will rise 10 percent year-over-year for the 2023 filing season. Those were the findings of a survey of 3,620 tax professionals conducted by Drake Softwaare
Leading the way was a 13-percent rise for Forms 1065 and 1041, followed by a 12-percent hike for 1040s. That was followed by an 11 percent rise for a 1040 plus Schedule C and 10 percent each for a 1040 plus Schedule A and Forms 1120 and 1120S.
Also moving up is seven percent rise a 706 and four-percent rise for a 990.
The survey found 61 percent plan to increase fees by one percent to 10 percent; 25 percent keeping fees the same; and 13 percent by 10 percent or more. Only 1 percent intended to increase fees
Thirty-eight percent of the respondents were CPAs, 27 percent were Enrolled Agents and 2 percent were attorneys. The remaining 27 percent had no designation.
Forty-eight percent of those prepared 101 to 500 returns during a season; followed by 24 percent, 21 to 100 returns; 15 percent to 501 to 1,000; 10 percent more than 1,000 and 3 percent 0 to 20 percent.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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