Tax Preparers Aired Most Spots on Local Cable
It’s tax season, and with uncertainty high over the new Tax Cuts and Jobs Act of 2017 (TCJA), many taxpayers find they need help to make sense of their tax situation. As they turn to accounting firms, CPAs, tax preparers and tax preparation software, we wondered, which of these companies are advertising – and where?
Signs that professional advice is needed came early this year. In mid-February, news headlines that refunds were down as low as 17% stirred new anxiety among tax filers.
As expected, advertisers jumped in to promote their professional services and software. In the first two months of the year, more than 500 accounting, auditing and tax preparation firms promoted their services on radio, TV and local cable, according to an analysis of Media Monitors data.
Advertisers Promote Live Tax Help
The sheer volume of changes – the new law runs to more than 1,000 pages – means people need help understanding the law’s impact on their situation. In fact, according to a Yahoo Finance survey, 54% of tax filers say they don’t have a clear understanding of the law.
Though known for its tax preparation software, TurboTax tapped into filer anxiety by promoting its Live CPA service via its Super Bowl Robochild commercial. The company aired its spots primarily on cable and TV, where it topped both lists.
Top 10 TV Advertisers
| Advertiser | # of Spots |
|---|---|
| TurboTax | 110,634 |
| H&R Block | 83,617 |
| Jackson Hewitt | 29,340 |
| TaxAct | 19,690 |
| QuickBooks | 12,067 |
| Community Tax | 8,120 |
| TAX10000 | 4,568 |
| The Tax Defense Group | 3,656 |
| IRS Tax Doctors | 2,908 |
| The Tax Doctor | 2,825 |
Top 10 Cable Advertisers
| Advertiser | # of Spots |
|---|---|
| TurboTax | 340,827 |
| H&R Block | 195,293 |
| Jackson Hewitt | 96,284 |
| TaxAct | 93,929 |
| QuickBooks | 74,050 |
| Optima Tax Relief | 40,341 |
| Tax Relief 123 | 11,339 |
| TAX10000 | 8,598 |
| Fidelity Tax Relief | 7,026 |
| TaxSlayer | 6,133 |
| The Tax Defense Group | 5,436 |
Optima Tax Relief and Community Tax focused their advertising on radio, suggesting this audience is a better fit for their services. With more than 130,000 spots, Optima dominated radio time. Meanwhile, Community Tax and TaxSlayer were a distant second and third, with 45,540 and 35,788 spots respectively.
Two of the best-known tax preparation services, TurboTax and H&R Block, didn’t even make an appearance among the top 10 radio advertisers. Both brands targeted their ads mostly to cable viewers. However, QuickBooks – which, like TurboTax, is owned by Intuit, Inc. – did land among the top 10, with 21,399 spots aired.
Top 10 Radio Advertisers
| Advertiser | # of Spots |
|---|---|
| Optima Tax Relief | 130,471 |
| Community Tax | 45,540 |
| TaxSlayer | 35,788 |
| Jackson Hewitt | 27,552 |
| Patriot Software | 24,318 |
| US Tax Shield | 24,089 |
| QuickBooks | 21,399 |
| Republic Tax Relief | 18,691 |
| Coast One Financial Group | 8,666 |
| Paramount Tax Relief | 8,483 |
Intuit, in fact, was one of the few advertisers promoting more than one product or service. Between its TurboTax and QuickBook solutions, it aired a total of 564,292 spots across radio, TV and local cable. The majority of these spots – 414,817 – were on local cable.
Intuit Advertising Spots
| Radio | TV | Cable | Total | |
| TurboTax | 5,315 | 110,634 | 340,827 | 456,776 |
| QuickBooks | 21,399 | 12,067 | 74,050 | 107,516 |
By mid-March, the average tax refund was back to prior year levels, but anxiety remains. As the April 15 deadline approaches, the market for tax preparation remains hot and not just for 2018 taxes. According to the IRS, 1.2 million taxpayers have not filed their 2015 taxes and could be owed a refund. The government is currently sitting on $1.4 billion in unclaimed tax funds.
Beyond April 15, taxpayers who feel blindsided by their returns this season will need help planning for their 2019 taxes. For broadcasters, the data provide clues into which tax preparation services are most receptive to your advertising pitch.
* The Media Monitors spot counts listed in this report represent total ads aired both locally and nationally combined in the markets/cable zones where Media Monitors captures ad content.