An Enrolled Agent is a tax professional who has demonstrated competence in tax preparation and representation matters. Enrolled Agents generally have unlimited practice rights, meaning they can represent any taxpayer regarding any tax matter before any IRS office.
If you are a tax specialist looking to add a credential, you might want to consider becoming an EA - Enrolled Agent. EA is the highest credential awarded by the IRS acknowledging your skills and knowledge as a tax expert.
Unlike the CPA exam, one can become an Enrolled Agent with comparatively relaxed educational requirements. This does not make the EA exam any easy. One must be competent enough in tax matters in addition to passing three exam parts to ensure that the Special Enrollment Examination (SEE) accurately reflects the skills and knowledge necessary to become an IRS Enrolled Agent.
We have got the right training tools to focus on the right content to prepare you for the 3-part IRS Special Enrollment Examination, which includes: 1) Part 1 - Individuals, 2) Part 2 - Businesses, and 3) Part 3 - Representation, Practices, and Procedures. Here are a few of the many EA exam preparation benefits at Phoenix:
Certain former IRS employees, by virtue of past technical experience, may be exempt from the exam requirement.
Circular 230 specifies that such applicants “must have been regularly engaged in applying and interpreting the provisions of the Internal Revenue Code and the regulations relating to income, estate, gift, employment, or excise taxes.”
In general, the experience must include at least five years in one of these taxpayer-facing field positions: appeals officer, special agent, revenue officer, revenue agent, tax specialist, tax law specialist, or settlement officer. Three of the five qualifying years must have occurred within the last five years prior to separation from the IRS.
When you become an enrolled agent, you can determine how you want to define your practice. You might focus on certain industries or demographics, for instance. Some have a policy to only work on specific sorts of audits, or tax returns that involve certain amounts. Since EAs specialize in taxation - their assistance is sought by CPAs or attorneys whose clients need EAs specialized skills.
Some possible work environments include:
One can also choose private practice and help individuals with their filings, structure trusts and estates alongside an attorney, or work with a variety of small corporations and LLCs.