Tax Preparation in the US? How an Enrolled Agent Helps With This & Role of an EA in Filing Taxes?

Most of us, at some point, need some kind of professional during tax filing. The IRS reports that the paid tax preparer reviewed more than half of the 150 million individual tax returns approximately filed every year. Many of these tax returns were filed with the help of a registered enrolled agent. 

If you are looking for tax preparation services or need an expert help, iLead Tax Academy –the No #1 enrolled agent training institute in Hyderabad offers reliable US tax consultancy services at very cost-effective prices.

We offer tax e-filing and annual returns filing services for all clients in varied sectors. Our expert CPAs and enrolled agents help you get your biggest refunds on time. In addition, if you want to pursue an accounting career, iLead offers the best enrolled agent training course in Hyderabad where you can embrace a recession-proof career.

In this article, we’ll take a look at what absolutely a registered enrolled agent is, what they can do for you, and why you should hire one to help you deal with your tax matters.

What is an Enrolled Agent and Why Should You Hire One?

An accredited enrolled Agent is a tax adviser who will represent you before the IRS-Internal Revenue Service, when you file your tax return, conduct an audit, resolve payment and recovery issues, or appeal a fine (for example). 

 Enrolled agents can get certified in 2 different ways:

  1. SEE Exam 

They can take a Special Entrance Exam (SEE), which covers all aspects of individual and corporate tax law, as well as issues related to tax representation, practice and procedures. Registered agents must also complete 72 hours of continuing education every three years to maintain their registered agent status. 

  1. IRS Working Experience     

If they have worked in the IRS for five years or more, they can obtain registered agent status without passing the SEE exam. Many registered enrolled agents are former IRS agents, so this option seems very popular. However, current IRS employees cannot be certified as registered agents. 

All registered agents also successfully passed the background check. It is safe to say that when you contact a registered agent, you are talking to someone who has a thorough knowledge of tax laws. 

What can a registered enrolled agent do? 

Registered agents have so-called unlimited exercise rights (sometimes called unrestricted representation rights). This means that they can help anyone, individual, business, and any other organization in any aspect of taxation. 

Enrolled agents can:

  • Help you with tax planning
  • Provide tax advice and also help you navigate through complicated tax rules
  • Prepare & file your tax returns
  • Deal with audits, payments, or collection issues
  • Assist you to deal with any other tax concerns

The iLead team can help you with tax filing and any other tax matters. This means you will quickly receive complete and accurate books to use for any need. Accounting aspirants also get the best training with the comprehensive US taxation course in Hyderabad 

What is the difference between CPA, Registered agent & an attorney

Registered enrolled agents are not the only professional tax preparers with unlimited practice rights – they also have Certified Public Accountants (CPAs), attorneys, and accountants. So what’s the difference? The first significant difference is that registered agents are pure tax professionals focused solely on tax compliance issues, while most accountants and lawyers are not. So, if you think your taxes are too complicated to file using online software and you need professional help, consider hiring a registered agent. 

CPAs do not necessarily specialize in taxes. They provide a range of services covering the entire accounting profession, including corporate finance, wealth planning, financial planning and reporting. If you need an expert to teach you how to position your business to minimize taxes, talk to a CPA who has tax filing and compliance experience. 

Even lawyers do not necessarily specialize in tax compliance. If you are merging or closing a business, considering a deal, getting a lawsuit, or looking for help with anything else that goes beyond pure tax or accounting advice, seek attorney’s help. 

How can I be sure that my tax advisor is legal?

 If you are not sure about the legality of a particular tax advisor or tax preparer, the IRS recommends that you find one at the Better Business Bureau. You can also personally request the IRS to verify the identity of the registered agent by sending an email to [email protected] with the agent’s name, address (if applicable) and agent number. 

Avoid hiring someone who bases their commission on a percentage of your income tax refund – most licensed professional tax preparers will never charge you such a fee. Also make sure they issue an electronic file as the IRS requires tax preparers to electronically file more than 10 clients. 

Never submit a tax document to the IRS without first verifying it, and make sure the originator signs the documents and includes a Taxpayer Identification Number (PTIN). Licensed Registered Agents, CPAs, and Attorneys have PTINs and are required by law to include them on all returns they are paid to complete. Also, never sign a blank statement.    

If your compiler asks, this is one of the most reliable signs that you are dealing with a tax preparation scam. 

So how can I hire a registered agent? 

Enrolled agents are committed  tax professionals who can help you with tax planning, prepare tax returns for you, and represent you in tax court if you run into problems with the IRS. If you have a tax issue that doesn’t require the involvement of a CPA or attorney, your best bet is to hire a certified enrolled agent. But how exactly are you going to hire him?     

In addition to keeping records, Bench can put you in touch with a Certified Registered Agent. Log into our network of accountants, ask to be contacted by a registered agent and we will help you set up correctly. You can also find the National Association of enrolled agents from the IRS directory.

The Takeaway    

Taxation is not always easy, especially if you are a freelancer or small business owner with special tax needs. A CPA or registered EA expert can help you navigate the tax code, make sure you fill out your taxes correctly, and save you a lot of tax season stress. 

Enrolled Agents Salary Packages - How Much Does an Enrolled Agent Can Make

Enrolled Agents Salary Packages – How Much Does an Enrolled Agent Can Make?

If you are considering a career in finance or accounting, then you might be curious to know how much money enrolled agents can make? Enrolled agents are the tax representatives who work in accounting firms for both large and small. They even work for individuals, some of the most well-reputed corporations in the USA. Let’s determine how lucrative the career as an enrolled agent can be? Learn more about the salary packages of enrolled agents. 

Before getting into those details let’s have an idea about who are enrolled agents and what actually they do? Unlike other tax professionals, an enrolled agent has got a special privilege to perform legal accounting services while other non-enrolled tax professionals can not.

Enrolled agents are federally licensed tax practitioners who are specialized in all aspects of US taxation. They are commonly known as America’s tax experts. They are the only category of taxpayer representatives who receive unlimited rights to practice from the federal government. Enrolled agents are also licensed by IRS-Internal Revenue Service and awarded the highest credential by the IRS as well as recognized across fifty U.S. states. To become a certified agent one can opt for an enrolled agent course and that will be a standard option to achieve your accounting career goals. 

There are many enrolled agent programs available in India, but choose wisely and always go for genuine enrolled agent courses that can lead to success in your career. iLead Tax Academy is one such trusted enrolled agent course training institute in Hyderabad that has been offering result-oriented enrolled agent programs. 

Enrolled agents can represent, advise, and prepare tax returns for individuals, corporations, and trusts. Enrolled agents are needed in small and large public accounting firms, corporate accounting departments, law firms, investment, revenue firms, in private practice and banks.

Enrolled agents are needed in various accounting firms, like 

What’s more, enrolled agents very frequently fill their role of both tax attorneys and tax accountants. In most cases, clients call upon experienced enrolled agents in complex tax situations, where audits can be done without any faults and accurately. As a tax preparer, an enrolled agent is the most qualified person to define and explain the choices made during tax preparation. 

An Average Enrolled Agent Salary 

How much do enrolled agents earn? What are the salary packages of enrolled agents? Well, according to the payscale, the national average salary for an EA is just over $50,000, when you include bonuses and commission as well. However, the actual enrolled agent salaries may vary a little bit when you consider all these variables. It depends on your years of experience, the scope of your responsibilities, your previous company’s size, all these factors could affect your earnings. 

When compared to EAs CPAs make more money like closer to $70,000 annually. But in the long run, geographical constraints and corporate salary caps often limit CPAs salaries. 

One major reason EA salaries across the USA are so widespread is that enrolled agents could hold various positions. Your education, type of enrolled agent course that you have taken, EA certification, and experience level also matters in regard of the salary packages of enrolled agents. The more you are specialized, you might make more. Generally, big chains pay their more experienced EAs between $20-$30 per hour on average, which comes around $40,000 to $50,000 annually.

Reasons why one should become an Enrolled Agent 

EAs have got the highest credentials among IRS. Individuals who obtain this status must adhere to some ethical standards and they have unlimited tax practice rights. They are unrestricted to 

Types of tax matters that they can handle

Representing as taxpayers 

They can represent clients before IRS offices.

If you are really interested in becoming a tax preparer or already if you are into it then it makes a good sense to work towards becoming an EA. There are several enrolled agent programs for tax preparers. Without completing basic and minimum or even not having basic EA certification you may lose basic tax representation rights for clients whose returns you are preparing.

If you can not talk to the IRS on behalf of your clients, you may also lose them and with the IRS examinations on the rise, this is becoming more important. The iLead’s enrolled agent course program includes online training for the individuals where one can gain knowledge on US tax law and our study material will aid you in cracking the EA agent special exam. One can earn EA certification easily with our dedicated, comprehensive, and industry-specific training programs. 

Ways to Become an Enrolled Agent 

  1. Qualifying a three-part comprehensive IRS test called SEE (Special Enrollment Exam) along with passing a background check.
  2. With experience as a former Internal Revenue Service (IRS) employee, you should work for at least 5 years in a position requiring experience in interpreting the tax code.

Any graduates with any background such as B.Tech, MBA, working professionals not necessarily from the finance domain with dedicated three months of effort to prepare for the enrolled agent course. 

The enrolled agent aspirants need to pass all three parts of SEE that prominently deals with USA taxation.

  1. Individual taxes 
  2. Business taxes
  3. Tax representation

Candidates can schedule their three exams at any time and any order and it is also not mandatory to spear all three exams in a single sitting. Also, note that the exam window of EAs is closed during March and April months because these months are busy tax filing seasons in the USA. 

Taking US taxation course training is proved to be beneficial and has more chances of clearing the exam. iLead is pleased to offer you the opportunity to upgrade your career by obtaining EA certification. Offering real-time US taxation course training from the professional EA experts, involving exam-oriented MCQs, material handouts, model papers, case studies, and much more. 

Individuals looking to become an enrolled agent of IRS, follow these steps for how to take a SEE special enrollment exam. 

1. Check for the candidate information bulletin—this bulletin gives you all the needed information regarding the examination and the whole process for becoming a certified enrolled agent. 

2. Register & Schedule your exam– Before scheduling an exam appointment one must register for every part of the examination.

3. Go through Exam content outlines– Review all the details and full-detailed exam specifications to become familiar with the rules of each part of SEE.

4. Prepare for Exam– Know all the information and needed test content and scoring information, ID policies, test center regulations, registration, and scheduling issues, contact information…

5. Take your SEE exam confidently.

US Taxation Course - Enrolled Agent – Future is Now - EA Training in Hyderabad

“Enrolled Agent – Future is Now!”

Are you willing to become an enrolled agent and looking for the best US Taxation Course? Then, this blog will be worth reading. Nowadays, choosing the right career has become very difficult in this fast flourishing generation and competitive world. We see in every field there are some rules and limitations to every designation. But when it comes to Enrolled Agents, they have complete authority in all the tax-related issues with no boundaries. Enrolled Agents are federally authorized tax practitioners who are empowered by the U.S. Department of the Treasury. The role of enrolled agents is to represent taxpayers before the Internal Revenue Services in tax related issues such as audits, collections, and appeals. iLead Tax Academy is one of the best Enrolled Agent Course in Hyderabad for students and professionals with real-time online and classroom sessions. iLead Tax Academy is the best choice for you to flourish your career growth with the guidance of our EA experts. 

The two ways to become an Enrolled Agent include – 

  • Special Enrollment Examination
  • Experience of Five Years with IRS

“Special Enrollment Examination (SEE)”

For you to achieve an enrolled agent designation, you need to clear all the three parts of SEE. The exam has three major components all of which you must get through to become an enrolled agent.

  • Individual Taxes
  • Business Taxes
  • Representation, Practices, and Procedures related to all tax matters

As this is the highest designation awarded by the Internal Revenue Service, there are fewer chances of accepting applicants who have poor knowledge or experience. The National Association of Enrolled Agents recommends that the applicants who apply for a special enrollment examination must have some tax preparation experience to avoid complex failures or issues. To do so, applicants should start preparing for the exam through any combination like self-study or by enrolling in the best US taxation course. We recommend you to go for the best enrolled agent course to clear all the three computer-based tests in the first attempt followed by the best job opportunities. The three computer-based tests can be scheduled any time between the month of May and February, as March and April will be the complete tax season. Each part of the SEE consists of 100 multiple-choice questions.

Special Enrollment Exam Content:

 Part 1: Individual

  • Preliminary work to prepare tax returns
  • Income and assets
  • Deductions and Credits
  • Taxation and Advice
  • Specialized Returns for Individuals Estate

Part 2: Business

  • Business entities and Considerations
  • Partnerships
  • Corporations
  • Business income, expenses, and assets
  • Specialized Returns and Taxpayers

Part 3: Representation, Practice, and Procedure

  • Practice before the IRS
  • Requirements for Enrolled Agents
  • Representation before the IRS
  • Record Maintenance
  • Electronic Filing

“Experience of Five Years with IRS”

Apart from the special enrollment examination, an individual with five years of experience in the IRS looks forward to an Enrolled Agent designation. With five years of continuous experience, IRS employees are allowed to apply for an enrolled agent designation without appearing the Special Enrollment Examination. The application they submit possesses detailed work experience and knowledge of the tax code to pass the SEE. Other than the work experience in IRS, the application also includes education, training, licenses, and other work experiences. iLead Tax Academy is the best US Taxation Course in Hyderabad that provides students and professionals with proper training and certification. We also provide soft skills training to students that helps to work with Big 4 and other USA MNCs in tax and accounting. 

Continuing Education for EA License Renewal:

To renew the EA license, one must complete 72 hours of continuing professional education during three years of renewal period which also includes six hours of ethics. The IRS provides continuing education through a qualifying program to improve the EA’s professional knowledge of federal tax-related matters. At iLead Tax Academy, Our EA expert will provide you detailed information about the enrolled agent designation through the best interactive sessions. 

Reasons to Choose Enrolled Agent as a Career:

Enrolled Agent has numerous benefits that lead you to pursue the best EA Certification. 

  • Unlimited Representation Rights:

An enrolled agent possesses unlimited representation rights before the IRS on any tax matters like audits, tax collection issues, and appeals. The IRS grants both EAs and CPAs, the abilities to represent taxpayers without any boundaries further. As an EA, your data will be in the IRS National Database as long as you fulfill the requirements of continuing education (CE) and preparer tax identification number (PTIN). Enrolled Agent is the highest position offered by the IRS and is recognized across all 50 U.S. States. Whereas, CPAs and Tax Attorneys are licensed on a state by state basis. As there is a growing need for representation, the IRS has also resulted in the need for more tax practitioners to represent taxpayers. iLead Tax Academy is the Best Enrolled Agent Training Institute in Hyderabad and known for the best EA Expert Nanda Kumar KV. He is the CEO of iLead Tax Academy and also serves as a tax practice leader. He has 19+years of experience in the areas of finance, payroll processing, international taxation and so on. 

  • Limitless Earning Potential

With the complete authority to represent any taxpayers across all 50 states in the U.S., there are very fewer chances of turning down. Instead, to increase your earning potential, you are allowed to complete even more complicated tax returns in any state. Our EA expert at iLead Tax Academy with excellent interactive sessions will show you the right path to achieve an enrolled agent designation in the first attempt. The services you offer after becoming an enrolled agent include helping people with audits, preparing and filing documents on behalf of clients, attending conferences in place of your clients, and providing written tax implications on business transactions. The entities that need the assistance of an enrolled agent are accounting firms, banks, law firms, corporate accounting departments, state departments of revenue and more. With so many work opportunities available, approach our enrolled agent course in Hyderabad and get the best EA Certification with the guidance of our EA professionals. 

  • Job Security:

In the life of every individual, paying taxes is the sure thing. In order to deal with all the tax matters, there will be a need for enrolled agent assistance. This ensures that the demand for enrolled agents is growing rapidly. Whatever the situation is around, the enrolled agent designation is always valued. 

  • No Degree Requirement:

Unlike CPA, CIA and other accounting certifications, EA Certification doesn’t require any educational background or experience. People who have the knowledge of tax preparation and cleared all the three parts of the special enrollment examination are eligible for the designation of EA. 

At iLead Tax Academy, we provide the best interactive classroom training on US Taxation that covers all tax-related matters. In addition, we also provide handwritten notes, tax materials, model papers of past exams, MCQs set that helps to clear all three parts of the special enrollment examination (SEE).