With the EIC penalty of 500@ return..we will experience a 10-20% loss of those clients.(good riddance)
HRB may also lose a nice percentage. Add to that the delay of big returns. add to that the smaller paychecks of all workers resulting in them being fiscally smarter.
I know they have to go somewhere, but as i travel the 5 miles to work , i see a dozen pop up tax "offices",
for all we know they may have no efins and file thru free software or at low cost ..they will escape the eitc,sch c scrutiny.heck they wont need a ptin even.
The stores in this area are empty. The lack of loans plus extra EIC scrutiny are going to drive away the marginal clients. They will go on-line where they can lie about their qualifiers and get away with it. The days of charging sky-high fees is over. I also predict a 10% to 20% drop.