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I'm 81 and didn't do tax returns this year. I am still doing some payroll and sales tax and a little bookkeeping. I quit doing income tax because my mind is just not functioning as well as it used to and I was beginning to have trouble keeping up with the changes in the tax law. I just felt that it wasn't fair to my clients to continue doing tax returns. I just gave my tax business to a friend that saved my business for me when I had a massive heart attack nine years ago. Another big factor that caused me to quit taxes was that I am having more and more trouble getting my computers to do what they are supposed to do. I used to be able to work with DOS without any problem, but windows is getting to be more and more of a problem for me now. My mind is slowing down and computers are getting more complex. I believe God intended for us to work for as long as we are able but to be able to recognize when it is time to slow down, but even then we should stay as active as we are able to.

Don't spend the money yet. Be sure to include it in your will. It will be at least that long before a solid final decision is reached. You know how good the IRS is at delaying things.

I like the last three responses as they are an argument and my thought about not retiring. I too enjoy what I do, look forward to the start of tax season, finishing CEs before the start, and catching up with old friends/clients. I've said to myself, be careful what you wish for in retirement, with so much leisure time, would I really make good use of it? Crossword puzzles are not my thing and as much as I love TV I run out of stuff to watch now. When I travel I can't wait to get home and my 4 car garage is meticulously organized, could eat off the epoxied floor. There is nothing left for me to fix other than changing watch batteries and if I work out anymore I will burn out my Fitbit. So staying in the business may be a good fit for good health and mental fitness for me. Really makes you think....65, 70, 75 years of age is not old at all, as long as you think young, keep moving and enjoy work and life. Who has it better than us?

I too plan on working until I don't want to anymore because I love what I do. At some point I may not want the grueling hours of tax season so may go to work for a big practice or tax attorney doing legal research to derive "substantial authority" for positions clients might want to take. And/or do estates and trusts only, especially estates since they have their own fiscal years and don't get bunched up into a few months. I understand everyone's concern with letting go long-term clients and worrying about them getting into good hands. Don't. Long ago when I was with HRB I put off leaving for too long because of concern for loyal clients, many of whom had been with me for years. (I was always booked solid every hour I worked and fortunately didn't have to deal with walk-ins.) After I bit the bullet and left, a couple of dozen found me even though my new position wasn't anywhere near the HRB area. The rest I trust got settled with someone else or somewhere else. I still think about the deaf client whom I always started with a big sheet of paper so we could write each other notes, and the one who couldn't read but wouldn't admit it so I had to read things to him. Now I too have lots of mail-in clients I've worked with for years, and almost all need advice or opinions from me year round. You know what, though? If and when I retire, they might just find someone in their locale and realize it's better for them that way. This year I picked up two new clients (referrals since I don't take new clients) who had been dealing with out-of-state preparers and finally decided to go local. Both were thrilled with the ease of getting their returns done, dropping stuff off, etc. It will happen to your clients too. Maybe the hardest part of letting go is admitting we are not indispensible.

Well the Service has lost another one in federal court. All PTIN fees will have to be refunded. I figure I've paid almost $400 since they were imposed in 2010. Hope I live long enough to get it back !

If other class action suits are an indication, I'd say about enough for a cup of fancy coffee... maybe $7. Twenty years from now.

Even if the ruling stands, I figure my PTIN fees since 2010 have amounted to about $400 (roughly, I did not go back and look.) This was brought as a class action suit. So does the IRS pay the attorneys who brought the suit, they take 1/3 plus costs off the top and then divide the rest between those preparers who elect to be part of the class? So of the $400 I have spent, would I get maybe $200? Or less?

Thanks for the info. This has been one of the things that has pissed me off since they implemented it. Glad they lost. Tom Newark, CA

Please post source.

I am not thinking about retirement this year. Or even next. But I do think about changing the way I work. I would love to not be responsible for everything. And I am sure that if I do decide to change, I could keep a few bookkeeping clients and prepare taxes for another firm. But it is hard to change to doing things the way another person wants when I have been used to doing it my way for so long. Not that my way is perfect; I just like getting to decide what changes to make each year. And I get really tired of the attitude I perceive from the IRS. If anything drives me out of this business, that will be it.

I retired at age 83 since I didn't want to die with lot of unfinished returns. Now I sometimes miss it, but don't have to keep up with all of the changing rules. Besides, my brain might deteriorate.

I turned 70 last fall and plan to keep working as long as my health stays good, since I enjoy what I do. Most of my income comes from 9 monthly writeup/payroll/tax clients. The largest ones I also function as their contract controller/CFO. These are all clients, that I have had for many years, so it would be very difficult for me to sell my practice. Last year I did less than 70 tax returns, so I don't have any walkins. Occasionally I will get a new client due to an unsolicited referral. Financially, I am now in a comfortable place, now that I am on Medicare, plus I started receiving SS last year. It's a wonderful life, now that I am working about 20 hours a week.

I am 75 and hope to keep working far into the future.I have two different sets of clients. My walk in office I would not hesitate to sell to HRB they call every year. My mail in and people that come to my home I feel as FDNY does and have no idea how to handle them when the time comes.

I always knew you were a smart one. Congratulations and good luck.