Should CPAs be afraid of registered tax return preparers overthrowing them as the “United States of the tax world”? I don’t think so, but two of my colleagues do.
Even the AICPA seems to be on-board with this idea that RTRPs will overshadow CPAs.
I guess I’m skeptical (and cynical) by nature.
I’m not buying the argument that RTRPs are going to put pressure on CPAs in public perception.
I do think the previously unlicensed (who will now be RTRPs) will get more respect. But I’m not sure it’s a zero-sum game where RTRPs gain respect while CPAs lose respect.
I still think the CPA designation is golden in the tax world. As an enrolled agent, it pains me to write that. But it’s true.
Maybe I’m naive. Or maybe I just happen to practice in a place where I’m not hearing a lot of buzz about the RTRP designation.