Tax preparation services companies engage in providing tax return preparation services and do not include accounting, bookkeeping, billing or payroll processing services. Basic knowledge of tax law and filing requirements is required.
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The global tax preparation services market was valued at $11 billion in 2017. This is due to economic growth and technology development.
North America was the largest geographic region in the market, accounting for two-fifth of the global market share, due to high demand for services such as accounting, legal, advertising, photographic services and other professional services from companies across all industries.
The market is split into the following segments: tax compilation services, tax return preparation services; and other tax return preparation services.
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The USA was the largest country in the market, accounting for three-tenth of the global market share, due to the presence of a large number of commercial establishments seeking accounting, legal, and management consulting, advertising and other professional services.
The major competitors in the market are H&R Block, PwC, Delloite, Ernst & Young and KPMG. H&R Block is an American tax preparation company in North America, Australia, and India. The Kansas City-based company also offers payroll, and business consulting services.
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