Executive Summary The study examined the problem of identifying critical success factors in the tax preparation industry. Most firms in the tax preparation industry have one major objective. The objective is to emerge the best in the industry. However, companies operating in this area differ significantly with regards to their level of success. It is important to determine what makes some tax preparation offices highly successful than others. The differing level of success is in spite of the fact that the firms are operating within the same industry. The paper looked at the issue of whether or not becoming the best tax preparation office in Tampa can be explained by the various strategic alternatives adopted by the company. The question of the implementation of the correct strategy was also addressed. A research on Tampa’s tax preparation industry was carried out with the aim of identifying and understanding the various success factors that are essential for the achievement of competitive advantage. The researcher predicts that there are significant differences between the various firms with regards to the perception of critical success factors in the industry. Introduction Explanation of the Project The United States of America’s income tax laws are some of the most complex in the world. Due to this complexity, more than 60% of American taxpayers prefer using a paid tax preparer. In other words, they prefer paying someone to file their income tax returns for them. Through the use of a tax preparation service provider, a consumer can reduce the amount of tax they pay to the government. At the same time, the individual can increase the amount of their tax refund from the government (Edwards, 2013). Tax evasion is a very serious offense in the United States of America. The offense attracts hefty fines from those found guilty, including both individuals and organizations operating in the country. Perhaps this legal strictness is another reason why people seek professional services in filing their tax returns. The increasing demand for professional tax preparation services in the country has a number of impacts on the economy. For example, the increasing demand has resulted to a subsequent increase in the number of professionals offering tax services in the market. A case in point is the number of such professionals in Tampa, Florida. For example, there are over 100 tax preparation firms in the region (Slemrod, 2006, p. 23). The existence of such a large number of tax firms is an indication of the fact that tax services in this region are in high demand. Just like other firms in other sectors of the economy, all these tax firms aim to be successful. However, they differ significantly with regards to the level of their success. The observation raises a number of pertinent questions that any new entrant needs to address. For example, why does the success of firms operating in Tampa varies? Why are some of them successful, while others are not doing very well? Does the adoption of a given strategy determine the success of the company? Can the success be explained by the implementation of the correct strategies? A review of most tax preparation offices in Tampa reveals that they rely on quick turnaround work and high volume to increase their revenue. Due to this factor, there is increased fee-based competition within the industry. The reason for such an increase is because by lowering their prices, t