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Drake: Tax Fees to Rise 10-Percent

Arrow blue 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.

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