Steps to Get an Enrolled Agent Certification

An enrolled agent is a tax professional who has been federally authorised to represent taxpayers before the IRS at all levels. Unlike CPAs, enrolled agents are permitted to practise in all states without the need for additional licencing. An enrolled agent’s job is to advise, represent, and prepare tax returns for individuals, businesses, and trusts.

There are a few steps you must take if you want to become an Enrolled Agent or take the EA course. In this blog post, we’ll walk you through the process of earning your EA certification in six simple steps. So, whether you’re just getting started or you’re well on your way, keep reading for all the information you need to succeed!

The following are the seven steps to earning Enrolled Agent Certification:

1. Research the requirements

The first step in becoming an enrolled agent is to do your homework. The IRS website specifies the qualifications that candidates must have to take the EA exam. Candidates must have at least five years of experience providing clients with tax consulting, compliance, or representation services. They must also pass a three-part exam on individual and business tax law.

2. IRS experience 

Having IRS experience is another way to become an enrolled agent. Previous IRS service or technical service is considered acceptable. If you choose this route, you must meet three requirements.

  • Technical service experience is required, as specified in Circular 230.
  • Form 23 must be used to apply for enrollment.
  • A background check is required to verify your years of experience. Your tax transcript will be examined as well. Any failure to file or pay your taxes on time will result in enrollment denial.

You must have at least 5 years of experience to be considered for EA enrollment.

3. Schedule an appointment for fingerprinting

After submitting Form 23 and the application fee, the candidate must schedule a fingerprinting appointment. The fingerprints will be used to perform a background check as part of the enrollment process.

4. Complete the enrolled agent exam 

The Enrolled Agent course exam consists of three parts that cover individual and business tax law topics. To earn their certification, candidates must pass all three parts of the exam.

  • Individual tax return preparation is covered in Part One of the exam, which is divided into federal tax procedures, ethics, and income tax.
  • Part two is about preparing business tax returns and is divided into two sections: federal tax procedures and ethics and income tax.
  • Part three discusses representation, practises, and procedures when dealing with the IRS.

5. Apply for a PTIN

Candidates must apply for a Preparer Tax Identification Number after passing the Enrolled Agent Exam (PTIN). The PTIN is required when representing clients in front of the IRS.

6. Maintain your certification

To keep their certification, enrolled agents must complete at least 72 hours of continuing education credits every three years. Attending conferences, taking the enrolled agent program, or reading professional publications are all ways to earn these credits.

Enrolled agents are tax professionals who have demonstrated their expertise in tax law by passing the Internal Revenue Service’s three-part examination (IRS). They are authorised to represent taxpayers in all administrative matters before the IRS, including audits, collections, and appeals.

We hope you found this article useful. Becoming an enrolled agent is a process that requires dedication and commitment, but for those who are up for the challenge, it can be a rewarding career. Following these six steps will assist you in obtaining your EA certification and beginning to represent taxpayers. The following are some of the reasons why you should become an enrolled agent.

Exceptional advantages of becoming an Enrolled Agent

If you are an RTP-registered tax preparer or an unenrolled tax preparer, especially if you do not have a law or accounting degree, earning the enrolled agent designation through a reputable US taxation course in Hyderabad is a great way to advance your career. and here are some of the key advantages you can enjoy as an EA:

  • Unlimited representation before the internal revenue service 
  • Argue tax law
  • Can prepare & file tax returns
  • Handles appeals 
  • Has verified tax expertise 
  • Limitless earning potential
  • Job security 
  • No demanding requirements 
  • Relatively low cost to become an EA

iLead is the ultimate platform and the top enrolled agent training institute in Hyderabad for graduates looking to advance their accounting and tax careers!

Why Choose iLead Tax Academy?

Experts recommend iLead’s enrolled agent course training in Hyderabad as the best course prep. We provide a variety of US taxation courses in Hyderabad, both offline and online, as well as training formats for earning the highly regarded EA designation. For example, iLead provides live in-person, online, and self-study formats of EA certification courses in Hyderabad taught by the top EA expert trainers, allowing you to learn in the format that is most convenient for you.

As the best-enrolled agent training institute in Hyderabad, we better understand aspirants’ learning concerns and provide more flexible training options such as mock tests, live projects, and so on, which is why we have a large number of on-demand online US taxation courses in Hyderabad that allow students to learn on their schedule and at their own pace.

iLead in Hyderabad provides review courses with the highest exam pass rate, MCQs, current IRS publications, and detailed and interactive training by experienced CPAs and EA expert trainers.

Is It Easy to Learn Quickbooks?

Learning to use QuickBooks is simple for those who are familiar with accounting concepts and how accounting software works, but it can be challenging for those who are technologically challenged or do not have any bookkeeping knowledge.

If you want to learn QuickBooks but don’t know where to begin, this is the place for you. iLead Tax Academy is the leading certified enrolled agent academy in Hyderabad with professional trainers

What makes QuickBooks difficult to learn?

Those attempting to learn QuickBooks find the tool difficult to use for the following reasons.

1. QuickBooks requires accounting knowledge

To learn the QuickBooks payroll course quickly, you must have a basic understanding of the chart of accounts, debits & credits, and core accounting concepts. Accounting novices can still use QuickBooks, but the resulting books may be disorganized or inaccurate. Repairing sloppy books will cost you money, time, potential tax liabilities, and a lot of stress.

2. Constant updates

Every year, QuickBooks Online and other versions of the tool receive regular updates. New features may be added, and existing ones may be replaced. Keeping up with these changes can be difficult, but they are only a minor annoyance if QuickBooks meets all of your other business needs.

3. Steep learning curve for some users

After overcoming the learning curve, users can appreciate QuickBooks’s convenience. As with any technology, some users may require more time to become acquainted with how the software operates.

Another issue is the reports that users can access based on their subscriptions. For example, less expensive versions of QBO lack small business features for extracting some reports, which can be frustrating for users.

What does QuickBooks do? 

QuickBooks comes in several flavors, including QuickBooks online and QuickBooks desktop, but most training classes cover these bases.

1. Invoicing and sales management 

By creating invoices and keeping track of sales per client, you can manage sales and income. An accounts receivable aging report lists your clients and the invoices you’ve created for them.

2. Keep track of bills and expenses

Your employer’s business bank and credit card accounts are automatically linked to the QuickBooks system, which keeps track of expenditures. An Accounts Payable Report will show you which bills must be paid and by when.

3. Reporting

You can assess the productivity and stability of your organization using built-in reports that you can generate in minutes. A Profit and Loss Report, for example, provides an overview of the company’s profitability, whereas a Balance Sheet Report compares assets, liabilities, and equity.

4. Payroll management

The system allows you to pay employees by check or direct deposit, handles federal and payroll taxes automatically, and fills out payroll tax forms for you.

5. Inventory management

The system automatically updates inventory information as you enter transactions and provides a variety of reports to keep you informed of the status of your products.

What are the requirements for a QuickBooks Certification?

People can become QuickBooks Online or QuickBooks Desktop certified. For those looking for a new job, becoming certified in both versions can help them qualify for more positions.

There are no prerequisites for obtaining this certification. QuickBooks training can assist learners who are just getting started with the software by teaching them the necessary skills and preparing them for the exam. Professionals who are familiar with QuickBooks can take the test without further instruction.

Professionals with QuickBooks Online certification can advance to the Quickbooks Online advanced certification. This certification is a self-paced eight-hour course that teaches advanced features such as job costing, inventory, and complex problem-solving. Certification holders must pass a brief recertification exam every year.

Choose the right accounting tool for your business

QuickBooks can be simple or complex, depending on your prior knowledge of accounting software and accounting itself. If the accounting packages meet your company’s needs, overcoming the learning curve and investing in QuickBooks training will pay off. Before embracing QuickBooks software, ensure that it meets your company’s needs and promotes innovation.

iLead Tax Academy 

There are numerous ways to find QuickBooks training, with some being more effective than others in assisting you to achieve your objectives. iLead tax academy offers a QuickBooks certification course to help you advance your career if you want to maximize your ability to learn. In addition to QuickBooks training, iLead offers FPC training and IRS-compliant US taxation courses in Hyderabad.

We are the first enrolled agent course training institute in Hyderabad to offer live classes with class notes for enrolled agents or on US taxation courses, as well as real-time US tax return preparation training and soft skills training to assist aspirants and professionals in improving their communication skills and preparing them to deal with the corporate world.

If you are determined to become a QuickBooks expert, you are making a wise career choice that will open new doors and provide you with limitless opportunities.

What You Should Do Before Becoming an Enrolled Agent

Do you want to be an enrolled agent?

Yes, this is the correct guide for you. If you want to work in finance or accounting, you will need to do a lot of prep work to ensure you have the skills and knowledge to succeed. It can take time, and sometimes years of education, to break into the industry, but knowing where to start can help.

Before becoming an enrolled agent, you must complete a series of steps, each of which leads to your ultimate goal in the accounting and tax industry.

Be aware of your expectations as well as the level of education required to remain competitive in the field. Take the time needed to complete each exam and program to demonstrate to future employers that you have what it takes to achieve your career goals.

iLead, the top enrolled agent course training institute in Hyderabad, offers the best EA training to help you become a future-ready finance and accounting professional who is also technologically savvy.

Prepare for the EA exam

An enrolled agent test is required to fully enter the industry, allowing you to advance your career and demonstrate your knowledge and competence. However, you must properly prepare for the test before taking it. Enrolling in the best EA course training institute was the best way to prepare. This allows you to put your knowledge to the test and identify areas where you excel and areas where you struggle.

It offers a safe environment for learning and prepares you for the real test when the time comes. Aside from critical knowledge, it also prepares you for the enrolled agent exam, giving you the opportunity to learn how institutions administer the exam.

Know what the enrolled agent exam covers

The exam will cover several areas that accountants must be familiar with and will test their knowledge of each. All we know is that the test is divided into three sections: individual taxes, business taxes, and tax representation.

Individual tax is concerned with taxpayers on an individual basis. It will put your knowledge of assisting clients in identifying assets, income, and tax filing status to the test. You must understand how to obtain preliminary client information and apply it to financial documentation.

Business tax is concerned with advising corporations. Identifying corporate status and partnerships, as well as analyzing financial records, will require you to be an expert with corporations in addition to individual clients.

The final one is tax representation, which tests your knowledge of best practices and proper procedures for carrying out your daily duties. This ensures that you maintain a professional demeanor and can successfully assist any client you may encounter without inadvertently engaging in illegal practices.

Basic information about the exam

A few other aspects of the enrolled agent exam must be understood. There are 100 questions in each section. You also don’t have to finish all three sections in one sitting; you can take breaks throughout the exam period to refocus your mind and relieve stress as needed. In general, you have 15 minutes between sections, but this may vary depending on who administers the tests.

Clear your enrolled agent exam

After you have thoroughly prepared for your exam, the only thing left for you to do is pass it. You can register with the IRS once you have received your exam results and proper documentation proving that you passed your exam.

Enroll as an Enrolled Agent with the IRS

As previously stated, you must register with the IRS. You will need to do several things to accomplish this, the first of which is to obtain a preparer tax identification number. Online forms are available on the IRS website, so you can download them, fill them out, and submit them quickly. After you have completed these forms, you must apply for enrollment using form 23 enrolled agent application. After you complete these steps, your final hurdle is to complete a suitability check, which determines whether you filed all required taxes on your tax returns and have no outstanding tax liabilities. After all of this, the process should take approximately 90 days to complete. The IRS spends the majority of that time processing your forms and information.

Never neglect your education.

Even after you enter the industry and begin your professional career, you must maintain your skills and knowledge. This entails continuing your education, whether by taking a refresher class or returning to complete online preparatory examinations. It is common for people to forget much of what they learned in school, even though that knowledge is still valuable. You never know when you’ll encounter a tax issue with a client, a situation covered in class, or something you forgot about because you didn’t see it firsthand.

Knowing what steps to take before becoming an enrolled agent expert also applies after you become one. You will need to renew your certification on a regular basis, as this constant review will make things easier for you in the future.

iLead’s EA online prep course is truly adaptive and fully customised for each candidate, addressing various areas of comprehension of US tax codes and new federal laws, reducing their study time. Furthermore, our enrolled agent program in Hyderabad is optimised in real-time to keep candidates on the quickest track to enrolled agent exam readiness.

I wish you the best of luck with your enrolled agent certification!

It’s time to learn and improve your skills with our online training course!

CPA vs. Enrolled Agent: Which Certification is Better For You?

If you want to advance your career as a tax professional, you may have probably faced a difficult decision: CPA vs. EA. Both are valid points of view, but each has advantages and disadvantages that will affect your career in the long run.

iLead Tax Academy is a leading financial service provider and the enrolled agent course training institute in Hyderabad, offering a variety of accounting, QuickBooks, and payroll courses as well as recognized certification and placement assistance.

In this post, you will learn the key distinctions between CPAs and enrolled agents. Continue reading to learn more:

CPA vs. EA: What are they?

Certified Public Accountants are licensed accountants who have the legal authority to sign audit reports. They can prepare financial statements, perform audits, and provide tax advice to clients. CPAs’ typical clients are businesses that require both accounting and tax services.

Enrolled agents are IRS representatives of taxpayers. Individuals, corporations, partnerships, trusts, estates, and any other entity with tax reporting requirements are enrolled, agent clients.

CPA vs. EA: What are exam and license requirements?

The path to becoming an EA expert or a CPA is very similar. The main distinction between these two processes is how the basic requirements are met.

  1. Be eligible for the exam

You must either take the Special Enrollment Exam (SEE), also known as the enrolled agent (EA) exam or have prior work experience at the IRS to become an enrolled agent. While having several years of tax experience makes passing the exam much easier, there is no prerequisite for taking the EA exam. As a result, you could take it during your college years if you wanted. To schedule the exam, all you need is a Personal Tax Identification Number (PTIN).

In contrast to taking the CPA Exam, you must meet certain educational requirements. The CPA Exam application and licensure requirements are set by the various state boards of accountancy, and almost everyone expects you to have 120 credit hours of education to sit for the exam. Yes, this is the equivalent of a bachelor’s degree, and many state boards prefer that you have a degree in accounting.

  1. Prepare for the exam 

The EA exam has three sections, and most people consider the first and third sections to be the easiest because some experienced tax professionals can pass these sections with little preparation. In contrast, almost everyone must work hard to pass the second part, Business, so it is naturally regarded as the most difficult. iLead provides the best-enrolled agent training online, with a staff of professionals and experts to assist you in your preparation.

The CPA Exam is divided into four sections and covers a much broader range of topics. Regulation (REG) is the section equivalent to the EA exam, and only about 70% of the REG content directly relates to the EA exam. The remainder covers various topics such as business law.

Still, when we compare the taxation section of the REG exam to the taxation section of the EA exam, we find a lot of overlap. Because of the amount of shared content, candidates may be able to earn both certifications at the same time. Candidates who struggle to pass REG can focus their efforts on passing the EA exam and earning the EA designation. After that, they can use their expanded tax knowledge to retake the CPA Exam, pass it, and obtain their CPA license.

  1. Kick the exam

As previously stated, the EA exam has three parts. The only time you cannot take the EA exam is between March and April. Otherwise, the testing window is open from May 1 to February 28, and you can take the exam at any time during that period. You can take the exam sections hours, days, or months apart, and in any order you want. If you fail an EA exam section, you can retake it three times more (for a total of four times) during the testing window. Using an EA review course and sticking to a study schedule is the best way to pass the EA exam on time. This study plan should include completing all three parts in two years.

The CPA Exam has been tested all year, but there is a shorter time frame to pass all four exams. You must pass all four sections of the CPA Exam within a rolling 18-month period beginning with your first exam section. After passing the first section, you have 18 months to complete the remaining three sections. If you do not complete the remaining sections within this time frame, you will lose credit for the first one you completed. You must then pass that section as well as any other unpassed sections within 18 months of passing your second section. With such strict deadlines, relying on a CPA review course and consistently studying is critical for CPA Exam success.

CPA vs. EA: What do compensation and career look like?

Enrolled agents are not typically employed by a company. They have clients and thus can work from home with flexible hours. Many CPAs begin their careers in audit firms, but as they gain experience, they can open their CPA firms and gain clients. CPAs are paid more than enrolled agents, according to the study.

Choose the top enrolled agent training institute or CPA training institute to build up your career in a better manner.

CPA vs. Enrolled Agent: Advantages of it?

Superior service can be provided by both enrolled agents and CPAs. To demonstrate this, consider how enrolled agents add value first, followed by the assistance CPAs can provide.

The EA Advantage

Enrolled agents are tax specialists: Because EAs only work with taxes, they can specialize in areas such as tax preparation or tax resolution. As a result, CPAs who specialize in tax should consider obtaining the EA to demonstrate their tax expertise.

The EA title is a federal credential: Because the enrolled agent credential is issued by the IRS and includes the unlimited right to practice on a federal level, EAs can work with other clients also from all over the country.

Enrolled agents are a less expensive option than tax attorneys: Enrolled agents can typically provide the same services as tax attorneys at a much lower cost. Enrolled agents, for example, can represent their clients in civil resolution cases.

The CPA Advantage

Tax and accounting issues can be handled by CPAs: A CPA’s expertise is primarily in accounting and auditing, but most can also provide tax filing services. This combination is appealing to small businesses that require audit and tax services from the same team.

CPAs can help with tax planning by taking a holistic approach: Hiring a CPA is the better option for businesses because someone who “knows the numbers” can make better tax plans.

Do you want to become a professional enrolled agent training or CPA training? If this is the case, iLead Tax Academy would be the best choice for candidates looking to become enrolled agents because it offers high-quality training. Enrolled Agent program training from iLead Tax Academy can help you advance your career in US taxation significantly. We have qualified enrolled agent trainers on hand to help candidates pass the exam. Choose the best one for you. All the best!

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