Meet the Enrolled Agent (EA) - your go-to US tax pro approved by the US government! EAs can tackle any tax issue for anyone, anytime in USA. To earn this elite title, you’ve got to ace the Special Enrolment Exam (SEE) and score that EA license. Ready to crush it?
Top 10 Benefits of becoming and Enrolled Agent:
1. EA an Ultimate Power Move: EAs have unlimited practice rights in front of IRS and Tax Courts in US. This means you can represent any taxpayer, in any tax matter, before the IRS. Only Enrolled Agents, attorneys, and CPAs get this level of authority.
2. EA a Street Cred: An EA badge is your ticket to being recognized as a federal tax expert. It boosts your professional credibility and marks you as a go-to US Tax Specialist.
3. Diverse Career Paths: From tax preparation to planning and representation, EAs can work in accounting firms, law firms, tax prep companies, or even run their own show.
4. Cha-Ching Potential: With specialized EA knowledge, you can rake in higher income compared to non-credentialed tax pros. Clients pay a premium for expert advice.
5. Job Security: The tax game is always on. With constant demand for tax pros, EAs enjoy solid job security, especially with their knack for handling complex tax issues.
6. Flex Your Schedule: Whether you want to go full-time, part-time, or seasonal, being an EA offers career flexibility. Work for big corporations or independently—your call!
7. EAs are Stay Ahead of the Curve: EAs must complete 72 hours of continuing education every three years after qualification keeping you updated with the latest tax laws and boosting your expertise.
8. Specialize Your Skillset: Focus on niche areas like estates, gift tax, S corps, C corps, or trusts. Develop specific expertise and attract clients looking for that special knowledge.
9. Ethics on Point: As federally-authorized tax pros, EAs follow a strict code of ethics and professional conduct, earning client trust and reliability.
10. Influence and Advocacy: EAs can shape tax policy and advocate for taxpayer rights through involvement in professional organizations and direct interactions with the IRS.
1. Get Your PTIN from IRS: Go to the IRS website (www.irs.gov) and apply for a Preparer Tax Identification Number (PTIN). It will cost you approx. $19.75 (INR 1,580 approx.).
2. Sign Up on Prometric: Once you have your PTIN, create an account on the Prometric website (www.prometric.com) and Schedule your exam there.
3. Exam Tries: You can take each part of the exam up to three times in each testing cycle (i.e 1 exam you can write 3 times in a year).
4. Exam Fees: Each part of the Special Enrollment Examination (SEE) costs around $259 (INR 20,720 approx.).
5. Rescheduling Fees: No fee if you reschedule at least 30 days before your exam date. However a $35 (INR 2,800 approx.) fee if you reschedule 5-29 days before and full exam fee if you reschedule less than 5 days before.
Course Content for SEE Examination includes three parts:
1. Individuals:
Preliminary work and Taxpayer Data
Income and assets
Deductions and credits
Individual tax returns
Specialized individual returns
2. Businesses:
Business Entities & Consideration
Business Tax Preparations
Specialized returns and Taxpayers
3. Representation, Practices, and Procedures:
Practice & Procedures
Representation before the IRS
Specific Areas of Representation
Filing Process
Multiple-Choice Questions (MCQs): Examination includes two test let of 50 questions each. Each question has four options, and you must select the correct answer.
Scoring: Each part of the SEE is scored independently on a scale of 40 to 130. The passing score for each part is 105 and there is no any negative marking.
Pass/Fail Notification: You will receive immediate pass/fail notifications upon completion of each part of the exam.
Continuing Education: After passing the SEE and becoming an EA, you must complete 72 hours of continuing professional education (CPE) every three years to maintain your status.
Becoming an Enrolled Agent (EA) opens up a world of opportunities for Gen Z. As an EA, you'll be the go-to tax expert, offering top-notch advice and planning services. The flexibility of this career is a major perk—you can work from anywhere, whether you want to be your own boss or join a firm. EAs are always in high demand, especially during tax season, ensuring job security and growth potential. This credential is recognized internationally, paving the way for global career prospects.
Enrol with KC GlobEd for the ultimate guidance. We believe in helping students and securing placements in top companies through our strong placement partners in Big Consulting Firms leading MNCs.
To learn more about us and our US EA Course, visit our website: kcglobed.com
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