Enrolled Agent: Overview
An Enrolled Agent (EA) is the only federally licensed tax practitioner who is an expert in US taxation. As a result, these Enrolled agents can represent taxpayers before the IRS, Internal Revenue Service, tax issues, including audits (inspections), collections, and tax appeals.
Enrolled Agent is a standard credential by the Internal Revenue Service and is recognized across all 50 US states. They will have unlimited rights to advise and prepare tax returns for individuals, corporate offices, trusts, and organizations with tax-reporting requirements.
Enrolled Agents are also experts with the constantly changing taxations and enabling taxpayers at all administrative levels within the IRS. In addition, clients have a limited privilege under the law with an Enrolled Agent and can have confidentiality related to their non-criminal tax matters or proceedings.
The duties of Enrolled Agents go beyond preparing tax returns, advising on tax-related matters, and representing taxpayers before the IRS. They can work with various organizations and tax areas ranging from calling the IRS on notices to helping clients strategize to maximize tax benefits legally.
Here are some career opportunities you can get with an enrolled agent credential
- Public accounting firm tax staff
At a public accounting organization, EAs can be a tax staff and help prepare returns and provide tax advice. Enrolled Agents assist clients, from individuals to various organizations, to get highly experienced guidance on tax-related matters.
- Small Accounting firm tax staff
There are many smaller CPA firms available, where Enrolled Agents can take a wide variety of responsibilities and grow as tax professionals. These include examining financial statements, preparing tax returns, and ensuring that taxes are paid on time.
- Law firm staff
Tax law firms will benefit from EA who can represent clients before the IRS and deal with any IRS-related notices received for the client. Law firms are also businesses that require staff for taxation to help them handle their business taxes.
- Investment firm staff
Investment firms need tax professionals who can help them minimize the tax issues for their clients. Therefore, EAs can advise on how to handle the sales and purchases of investments to ensure clients’ goals are met in the fiscal year.
- Department of revenue staff
A great benefit of being an Enrolled Agent is working for the IRS or the department of revenue. As EA, you will be handling bookkeeping services and guiding clients through tax obligations.
Who can become Enrolled Agents?
No prior qualification is required to become an Enrolled Agent. A graduate with basic accounting knowledge can apply for the EA Examination and prove their working knowledge for the tax-related issues.
There are two ways to become EAs which include:
- Pass the Special Enrollment Exam
To become an EA, a candidate must achieve PTIN and pass all three parts of the Special Enrollment Examination (Individuals, Businesses and Representation, Practices and Procedures) that covers the aspects of the Internal Revenue Code.
There is no specific order to attempt the Enrollment exam. The candidate can take any section of the EA Exam first, but it is mandatory to clear all three sections to earn Enrolled Agent certification.
- IRS experience
Applicants must have worked at the Internal Revenue Service for five consecutive years in a that regularly applies the provisions of the Internal Revenue Code and the regulations that relate to income, estate, employment, or excise taxes.
Who are eligible for the special enrolment Exam?
Candidates with the below qualifications can be the target audience to enroll for an Enrolled Agent certification.
- Passing 10+2
- Any Graduates, B. Tech/ MBA
- Working professionals, with dedicated 3 Months to prepare for the Enrolled Agent Course.
In recent times, an increase in IRS enforcement has resulted in the need for more taxpayer assistance. As a result, you will have unlimited potential earnings and don’t need to be hired by a firm, and you can assist as many clients as you can handle. Thus, Enrolled Agent is a recession-proof career to choose from because people will always have to pay taxes and will always need help.
Are you looking for an Enrolled Agent Course? Then, Simandhar Education would be the best choice that offers quality training for aspirants who wish to become Enrolled Agents. With Simandhar Enrolled Agent training classes, you can achieve tremendous career growth in US taxation.
Enroll Now. We help you build your career!
Very good article. Thanks for the information