Perhaps you’ve been working for 10-15 years preparing taxes and you’ve finally had it with your current station in life. Or, maybe you’re just trying to avoid reaching that point, and as a young professional in the accounting industry, you want to be catapulted up the corporate ladder. There are many reasons why people take the EA exam, but there are just a few ways to study for the test in a way that will…
It can get a little confusing with all the accounting acronyms out there. Similarities among various accounting jobs makes distinguishing accounting job titles even more difficult. The following article explains the differences between two of the most commonly confused job titles; Enrolled Agent and CPA. Enrolled Agent vs CPA: What’s The Right Choice? Majority of people turn to the two well-known groups of licensed tax professionals: certified public accountants (CPA) and enrolled agents (EA). No matter…
An Enrolled Agent is a tax specialist who has been federally authorized to represent taxpayers before all levels of the IRS. Unlike CPAs, enrolled agents are eligible to practice in all states without additional licensing requirements. The job of an enrolled agent is to advise, represent and prepare tax returns for individuals, corporations and trusts. Adding this useful certification to your resume could be a great accounting career move. If you are ready to take…
The pass rate on the SEE varies for each of the three parts of the exam. The most difficult test for most candidates is Part 2 (Businesses). Only about 60% of exam takers have passed this part in the past three years. Part 1 of the exam (Individuals) is also challenging; approximately 75-80% of exam-takers have passed this part of the exam in the past three years. Most students do better on Part 3 of…
If you enjoy crunching numbers or preparing your own income taxes, then you should consider a career as an enrolled agent (EA). When it comes to jobs in accounting and finance, many people consider becoming CPAs, while few think about the option of becoming enrolled agents. With an increasing need for EAs across the nation, choosing to follow this career path can be both satisfying and lucrative. Enrolled Agent vs CPA First, it is important…
An essential part of becoming an Enrolled Agent is passing the IRS Special Enrollment Exam, otherwise known as the SEE. The following steps will help you prepare to register, study and pass your EA exam. Obtain a PTIN Before you are eligible to apply for the Special Enrollment Examination, you must obtain a Preparer Tax Identification Number (PTIN), which is issued by the IRS. This is probably the easiest step of the process. Simply or…
Part 1 of the enrolled agent exam, also known as the IRS Special Enrollment Exam (SEE), covers tax topics related to individuals. The exam contains 100 questions, including 85 questions that are scored and 15 questions that are experimental and therefore not scored. The exam consists of 5 separate sections and candidates have 3.5 hours to complete it. The EA exam is a multiple choice exam with four possible answers for each question. All questions…
Did you know that throughout your career as an EA you will have to fulfill Enrolled Agent continuing education requirements? Continuing professional education is required by the IRS in order to maintain your EA certification. Not sure what you need to do to fulfill these obligations? We’ve outlined the requirements for you in this article. Enrolled Agent CPE Requirements Being an enrolled agent means staying up-to-date on any changes in the tax-laws and remain familiar…