The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing number of small and medium-sized businesses is likely to promote innovation in tax preparation service manufacturing, propelling the market during the forecast period.

The global tax preparation services market is expected to grow from $29.62 billion in 2022 to $31.29 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The global tax preparation services market size is expected to reach $38.28 billion in 2027 at a CAGR of 5.2%.

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Global Tax Preparation Services Market Segments Include:

• By Service: Tax Compilation Services, Tax Return Preparation Services, Other Services
• By Deployment Mode: Cloud, On-Premises
• By Application: Enterprise, Family, Personal, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global tax preparation services market in 2021.

Major Market Players in the tax preparation services market include BDO Global, Deloitte Consulting LLP, Ernst & Young Global Limited, H&R Block Inc., KPMG International Limited, RSM US LLP, Ryan LLC, Jackson Hewitt Tax Service Inc.

Technological improvement is a major trend that is gaining traction in the tax preparation services market. Major organisations in the tax preparation services industry are focusing on developing innovative solutions to increase their market position. For example, April Tax Solutions Inc., a Canadian accounting and tax service company, debuted its Tax Platform technology in January 2023, which simplifies the filing process and integrates tax preparation into overall financial wellness, particularly for Americans. Itis uses the most recent developments in natural language processing and human-assisted AI to help Americans regain control of their taxes. April’s customised engine provides taxpayers with a fast, frictionless, and cheap tax experience, with the goal of simplifying the tax procedure. It establishes a new standard for tax relief for low-income families. April works directly with banks and financial institutions to break down the conventional barriers between tax and financial planning, so making tax work easier.

The Tax Preparation Services Global Market Report 2023  provides a tax preparation services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The tax preparation services market forecast analyzes tax preparation services market size, tax preparation services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The process of preparing tax returns by an individual or an organisation is referred to as tax preparation services. A business may be subject to income tax, customs duty, excise duty, and other taxes. It is also a time-consuming and difficult procedure. It demands a detailed analysis of an organization’s financial activity during a certain time period, as well as the compilation of all bills and related tax documents.

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