Major Group SIC 7291 - Tax Return Preparation Services

SIC 7291 - Tax Return Preparation Services

SIC 72 - Personal Services
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs
- SIC 729 - Miscellaneous Personal Services
  SIC 721 - Laundry, Cleaning, And Garment Services SIC 722 - Photographic Studios, Portrait SIC 723 - Beauty Shops SIC 724 - Barber Shops SIC 725 - Shoe Repair Shops And Shoeshine Parlors SIC 726 - Funeral Service And Crematories SIC 729 - Miscellaneous Personal Services
  - SIC 7291 - Tax Return Preparation Services
    SIC 7291 - Tax Return Preparation Services SIC 7299 - Miscellaneous Personal Services, Not Elsewhere Classified

Establishments primarily engaged in providing tax return preparation services without also providing accounting, auditing, or bookkeeping services. Establishments engaged in providing income tax return preparation services which also provide accounting, auditing, or bookkeeping services are classified in Industry 8721.

Industry trends:

The Tax Return Preparation Services industry (NAICS 7291) is experiencing several qualitative trends driven by technology, changing regulations, and evolving consumer expectations. One significant trend is the increasing adoption of cloud-based tax software and artificial intelligence (AI). These technologies are enhancing the accuracy and efficiency of tax preparation services, enabling firms to serve more clients in less time, and reducing the risk of errors. This shift is especially pertinent as the IRS continues to update and complicate tax codes, demanding more sophisticated tools for compliance.

Another notable trend is the growing demand for personalized tax advisory services. As individual and business tax situations become more complex, clients are seeking tailored advice to optimize their tax outcomes. This demand for customization pushes tax professionals to build deeper, more consultative relationships with their clients.

Furthermore, the remote work environment, exacerbated by the COVID-19 pandemic, has prompted many firms to offer virtual tax preparation services. This allows clients to interact with their tax preparers from anywhere, increasing convenience and broadening the geographic reach of these services.

Looking ahead, the industry is expected to see continued growth due to ongoing tax complexity and heightened demand for expert tax advice. However, firms will need to stay abreast of technological advancements and regulatory changes to maintain a competitive edge. Investing in staff training and cybersecurity measures will also be crucial as the industry becomes more digitized. The trend towards automation and AI is likely to persist, potentially reducing the need for manual data entry and increasing the value of strategic tax planning services.

This industry is comprised of:

Income tax return preparation services without accounting, auditing,

Tax return preparation services without accounting, auditing, or

Explore related industries:

SIC 2732 - Book Printing SIC 4121 - Taxicabs SIC 8721 - Accounting, Auditing, And Bookkeeping Services

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