Why Do Public Accountants Put Up With Busy Season?

It's no secret that busy season is one of the top five worst parts of public accounting. The hours are long and stressful, so why do public accountants put up with it? Today, I'm going to tell you some of the reasons why public accountants deal with busy season as a part of their job despite the apparent downsides. 

But Why is There Busy Season in the First Place?

Traditional busy season for tax accountants and auditors is the first four months of every calendar year. These months are the busiest because most companies have a fiscal year end of December 31st, and most financial reporting requirements are based on a company's fiscal year end. Here are some examples: 

  1. The securities and exchange commission requires public companies to file a 10K with their audited financial statements within 60 days following the end of the company's fiscal year

  2. Banks that provide business financing in the way of loans and lines of credit usually require audited or reviewed financial statements within a certain number of days (usually 90 or 120) after the company's fiscal year ends

  3. The IRS requires businesses to file their tax returns or extensions based on their tax year end, which often aligns with their fiscal year end. Partnerships are required to file form 1065 or an extension by the 15th day of the third month following the end of the tax year. C-corporations are required to file form 1120 or an extension by the 15th day of the fourth month after the end of the tax year.

On top of this, individuals need to file their personal tax returns or extend by April 15th. 

If you are or know someone who is a financial statement auditor or a tax accountant, these are the root causes of why they are so freaking busy in the earlier parts of the year. There are just so many companies and individuals that need to meet these deadlines!

But why would someone willingly jump into this? Here are a few reasons:

#1 - The Known Quantity

Pretty much every public accountant knows what they are getting into when they sign up. They know the busy seasons are busy. But at the same time, life outside of busy season usually isn't that bad. Public accounting firms tend to offer more flexible work arrangements on top of generous time off (that can really only be utilized outside of busy season) and a more manageable workload in the less busy times of the year. As long as an accounting firm has enough staff throughout the entire year, every employee will know when they are expected to work long hours and when they have a more relaxed schedule. This certainty of knowing when you're busy is huge for some people. Many people I know would prefer working a total of 2300 hours in a year and knowing all the overtime happens during busy season to working a total of 2200 hours where the overtime could come at any time based on unpredictable factors. 

#2 - The Job Security

In general, accountants have very good job security due to the nature of their work. Public accountants are even more secure because of the nature of the requirements listed above. Every public accountant knows the quote:

In this world nothing can send to be certain, except death and taxes – Benjamin Franklin

And every year they are reminded how true it is. If the banks, regulators, and the IRS got rid of all these deadlines for some reason, we would have a lot more to worry about than job security. So until then, many public accountants will take pride in the fact that they will be needed every single year, even if it means working some extra hours.

#3 - The Training

Not every public accountant wants to deal with busy season forever. The long hours and potentially stressful work environment are not sustainable in the long term for many people. But in the short to medium term of 1-10 years, busy season is like a boot camp for many public accountants. Every year, public accountants are obligated to step up to take on new responsibilities and learn new things in the name of servicing their clients. I have heard some recruiters say that one year of experience in public accounting (which includes busy season) can be worth 1.5-2 years of experience when jumping to corporate accounting in industry due to the sheer amount of knowledge and experience gained during those busier times. There are many people who come into public accounting knowing that the busy seasons will be rough, but plan to leverage that experience to get a better job elsewhere in a relatively short amount of time.


At the end of the day, public accountants know that busy season is here to stay because the driving factors aren't changing anytime soon. However, it's important to understand that busy seasons can be made better or worse due to firm management. Some firms have busy seasons that go relatively smoothly and only require 5 to 10 extra hours per week when needed, whereas other firms will accept new clients during busy season and pile on work to their already overworked employees. If an accounting firm can properly balance the upsides in the downsides of busy season through proper client allocation and personnel management, then it will keep its good staff for longer periods. Alternatively, the improper balance of these busy season factors is what leads to people quitting public accounting.