The Definitive Guide to Becoming an Enrolled Agent National Association of Enrolled Agents

It’s an advantage for them to have someone on staff to handle accounting throughout the year and taxes during tax season. EAs can provide their clients with more services at lower costs than other tax professionals because they have reduced overhead and greater tax-specific expertise. Enrolled Agents are essential to making sure that individuals and businesses have an advocate in issues with the IRS and can successfully navigate complex federal taxes. Thus, the IRS has strict requirements in place to guarantee that anyone with the credential has the in-depth knowledge to act as a trusted expert to their clients.

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As an enrolled agent, you have several career options ahead of you as qualified tax professionals are in high demand. The most common places of employment for EAs are public accounting firms, both small and large, working as tax staff to prepare enrolled agent salary returns for a wide variety of clients. Banks often rely on EAs to ensure the bank is compliant with tax laws and regulation while law firms specializing in tax will hire EAs to handle IRS-related notices and communications for their clients.

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• EAs can assist you with a collection issue or an IRS audit and provide bookkeeping services that may be helpful to firms filing tax returns.
• An EA can advise investment firm staff on how to handle the purchase and sale of investments.
• By partnering with someone who does advising and accounting work, you can start a well-rounded accounting practice.
• We hold 60+ years of experience as the #1 trusted name in CPA Exam review; now, we’re combining our exam prep experience with our tax instructors’ expertise to support the tax professional’s entire career evolution.
• The fee for each section is $203, and you will be registered to take the test.
• At a public accounting firm, EAs can work as tax staff, helping to prepare returns and representing clients before the IRS.

EAs are among the top tax specialists in the nation, with an in-depth understanding of the tax code, how it applies to the client, and how any changes may modify the customer’s responsibility. Most EAs were once employed by the IRS and had the skills and knowledge necessary to protect you if an audit is initiated. The fact that an EA may work in any state is one of the advantages of employing them to file taxes.

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• Enrolled agents can take on a variety of responsibilities and grow into the role of a tax professional.
• Having an EA in house also means small business owners can actively take advantage of tax minimizing decisions on a regular basis.
• Frequent changes and increasing complexity in tax law mean there is a growing demand for Enrolled Agents (EAs).
• At Becker, we’re committed to championing your career and advancing your success.
• The EA is not required to complete these requirements if appointed as an Internal Revenue Service tax collector.
• Candidates will discover that job avenues open up with the certification and that the opportunities for tax preparers grow more varied with Enrolled Agent status.
• While other tax professionals, including CPAs, obtain their license through a state agency, EAs hold a national credential and can practice anywhere in the United States.

But you will gain experience and knowledge that you can use to help future clients. Most enrolled agents work out of offices in their home states, charging a fee for each return prepared. You can even start your own tax planning and preparation firm and assist individuals and businesses with their tax needs.

The first step in how to become an Enrolled Agent is applying for and receiving your Preparer Tax Identification Number (PTIN). All EAs—in fact, anyone paid to prepare tax returns—need this IRS-issued ID number. The path to an enrolled agent career is often more accessible than becoming a CPA. You don’t need a college degree, and you only need two years of relevant experience, though you will need to pass the three-part EA Exam.

However, CPAs are better equipped to handle your accounting and financial planning needs. EAs are the sole federally licensed tax preparers with limitless rights to represent clients before the IRS and provide a wide range of tax-related services for businesses and individuals. One way an enrolled agent can represent taxpayers before the IRS is by preparing tax returns. They need to be licensed to perform this service https://www.bookstime.com/ and may charge fees up to $100 per return they prepare depending upon experience, expertise, time spent on the return, and other factors. An Enrolled Agent is a tax expert who has earned the right to represent people before the Internal Revenue Service (IRS). To become an EA, they need to pass a three-part comprehensive IRS exam covering individual and company tax returns or have experience working for the IRS.

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Each exam part contains 100 multiple-choice questions, and you have 3.5 hours (and an optional 15-minute break) to complete them. So, while a degree may not be required, most Enrolled Agents do have a formal background in finance or accounting to gain the foundational knowledge to fulfill the role. Having an EA in house also means small business owners can actively take advantage of tax minimizing decisions on a regular basis. It is not only logical but also economical to enlist the aid of an EA.

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• We’re here to walk you step by step through the process of becoming an Enrolled Agent, readying you for career success through EA Exam preparation and continuing education.
• It is not only logical but also economical to enlist the aid of an EA.
• However, which one you should contact mostly depends on the problem you’re trying to address.
• Lastly, taxes must always be paid, and people will always require assistance.
• Investment firms need tax professionals on staff to minimize clients’ tax obligations.