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Enrolled Agent vs CPA—Which is Better For You?

When it comes to accounting, one may get easily confused with a pool of acronyms. But with a thorough understanding of certain accreditations is key if you are looking for any tax experts to guide you with this particular case, then iLead is here to help in your decision making. Are you in a dilemma to choose between EA and CPA and which one is better and right for you? Read more to clear your doubts:

A lot of tax professionals wish to advance their careers in accounting and taxation but don’t know which to opt for EA or CPA. CPA and EA certification both are great options to choose which will help you in getting promoted, earn a higher salary, and can guide your career well.

Both the CPA and EA are great certifications that most of the tax professionals want to do in order to advance their taxation careers. Though the CPA and EA help you in seeking a fruitful career you should know the differences between them to move forward and make your decision. Let’s get in detail about the most commonly confused job titles EA and CPA, compare each one and see which one is right for you.

What is an Enrolled Agent?

An enrolled agent or EA is a kind of tax preparer who focuses on managing tax arrangements for private entities as well as businesses. Enrolled agents boast a wide range of knowledge in US tax-related subjects as income, payroll, returns, gift, estate, levies, inheritance, non-profit as well as retirement taxes. Once an individual passes an EA qualifying exam and earns EA certification by the federal government who recognizes them as American tax experts or tax specialists.

EAs are federally licensed tax practitioners who have unlimited rights to represent taxpayers before the Internal Revenue Services (IRS). The Enrolled Agent is licensed and regarded with the highest credentials by the IRS. To become an Enrolled Agent, one has to pass a three-phase comprehensive exam called SEE Special Enrolled Examination involves subjects regarding individuals, businesses, representation, practice, and procedure that covers all aspects of the tax code. For this, you can seek help from any reputed enrolled agent course training institute.

The second eligibility criteria to become an enrolled agent is respective candidate must work at IRS for at least 5 years in any position where he/she can interpret and apply the tax code.

If you are thinking to pick the first option and choosing some effective enrolled agent course programs is also plays a crucial role to foster becoming an enrolled agent goal. If so, there is no doubt you can get the best US taxation course from the iLead which is the number one enrolled agent course training institute in Hyderabad.

With our certified Enrolled Agents course training, you can get expertise in real-time tax scenarios and you can also grab various opportunities in big 4 or tax accounting firms. Our USA taxation online classes are designed according to the current trends, dynamic US tax laws, and accounting requirements, and taught by professional CPAs and EA experts.

Enroll iLead for enrolled agent course or USA taxation online classes to learn US tax laws from certified, experienced and practicing CPA and USA taxation course trainer in Hyderabad and build an awesome career in the USA.

What is a CPA?

Both are tax credentials, but CPA is regulated on the state level whereas EA on the federal level. One can become a CPA by completing one hundred and fifty hours and passing a four-tier CPA exam which is held by the AICPA. The CPA competitive exam consists of four main parts that are auditing & attestation, financial accounting, business environment and concepts, and Reporting and regulation.

CPAs have limited scope of practice within their jurisdictions and sometimes it is possible to reciprocity in certain cases. Both EAs and CPAs must uphold stringent ethics and standards.

In the CPA vs EA match-up, CPAs have more flexibility as well as repertoire rather than EAs. CPAs typically do almost all of their work for public accounting firms of varying sizes. They do not specialize in any particular sector of accounting. Rather they could assist as consultants and legal advisors for all tax, accounting, and financial services for entrepreneurs, businesses, and organizations they may represent.

CPAs help their clients in addressing their financial goals through financial planning and money management. These goals can be anything from opening a new branch of business to putting down payment for a home. CPAs are the go-to one if you are looking for a broad scope of expertise.

Difference Between an EA and a CPA

Both CPA and EA are credentials that should uphold stringent ethics and standards, EA is regulated on the federal level and CPA is regulated on the state level.

As CPAs are licensed at the state level means they have limited scope of practice within those jurisdiction. However, CPAs could get reciprocity in certain situations.

Time Requirement Differences

To become a CPA it takes 8 to 9 years because you have to fulfill all the requirements. You should have 150 hours of college credit for any bachelor’s or master’s degree before you can go for the CPA exam. Some states also require some number of hours worked under the direct supervision of a CPA before allowing the individual to take the exam. You also have to pass the daunting CPA exam that has an extremely low pass rate.

Compared to CPA, one can become an enrolled agent very easily, it takes far less time. All you have to do is qualify the three-part SEE examination administered by the IRS later apply for the licensure. The exam could be exempted from taking the exam if you have work experience or qualifying employment with the IRS.

Make a Smart Move in Career through Enrolled Agent Course Training Institute in Hyderabad

iLead’s Certified Enrolled Agents Course training ensures EA certification and expertise in US taxation for working professionals and offering various EA internship programs for freshers as well.

With the US Taxation course in India, one can explore a career in Big 4, US MNCs, and CPA tax accounting firms. Our USA Taxation Online Classes simplifying career growth in accounting with specifically designed study material, thousands of MCQs, and real-time US tax preparation, etc.

After doing the US Taxation course in India, you can also get job placement assistance after completion of training and EA certification.

EA vs CPA Career Path Differences

Enrolled agents specialize in tax issues, this includes preparation of taxes for individuals, business entities and also advising clients. You can find job opportunities at the tax preparation franchises or working for a CPA.

CPAs can work for the government, in the private sector, or for individuals. CPAs can become CFOs, tax specialists, controllers, or auditors. They could work for the state government, small and large companies or corporations in not for profit’s sake or to be self-employed.

Salary Differences

On average CPAs and EAs earn almost the same, but the salary packages vary based on where you are practicing accounting career. Usually speaking, even if you are a CPA your income would quickly outpace that of an enrolled agent.

The income potential for enrolled agents tends to topple out over time with the peak earnings to be around 60,000 dollars. On the other hand, CPAs have many opportunities to make money. Especially, if you are a CFO for a conglomerate or a partner in a CPA firm, you can easily earn six figures.

Which is Better?

After weighing all the pros and cons of each job, now it’s your turn to deciding between becoming a CPA or an Enrolled agent.

Enrolled agents are not common in the business sector, that means you could choose to work from home. Being an enrolled agent offers more flexibility in terms of lifestyle, freedom to choose where and how much you want to work.

The overall market has a greater demand for CPAs and EAs. If you want to enjoy working with US taxes and to address challenges involved in keeping up with complicated regulations, then becoming an enrolled agent might be the direction to go.

Before any decision, it is better to consult a professional who has the expertise and a solid handle on taxation laws, EA experts or CPAs. This allows finding the right fit for you.

santosh Enrolled Agent

“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).

Becoming an Enrolled Agent and How to Choose the Best Training Institute

santosh Enrolled Agent

Thinking of Becoming an Enrolled Agent? Then Choose the Best Training Institute

The only choice for students and accountants to become an enrolled agent is choosing the right training institute. The enrolled agent designation flourishes the career of accountants and professionals who are willing to specialize in tax. iLead Tax Academy is the best US Taxation Course in Hyderabad for the professionals who are willing to become a tax practitioner. Before thinking of becoming an enrolled agent, you must first know the significance of an enrolled agent designation.

What is an Enrolled Agent?

An enrolled agent is a role offered by the federal government to represent taxpayers before the internal revenue system (IRS). It is the position that possesses enough rights to deal with all tax issues such as collections, audits, and appeals. Once the individual meets the requirements of EA and passes the exam, the U.S. Department of Treasury offers EA with unlimited representative rights before all administrative levels of the IRS.

EA Certification comes with enough benefits such as identity, enough rights to deal with tax issues, more confidence, and trust of the public. If you simply want to experience the benefits of an enrolled agent, you have to pass the special enrollment examination (SEE). When it comes to tax preparation, an enrolled agent has to deal with the client’s needs such as arguing tax law, discussing audits, dealing with the IRS collection department, make appeals and more. To fulfill the client requirements in the future, one has to go for the right US Taxation Course in Hyderabad.

An enrolled agent can do anything in the world of tax preparation like handling collection issues, file appeals, answering questions on behalf of clients, and making challenges to the IRS. An enrolled agent is allowed to work anywhere in the country without any hassles, which means the designation is more secure with proper EA Certification.

Enrolled agents don’t work for the IRS, they only work for taxpayers. Their enough rights separate them from the other standard tax preparers. EAs are known as top-notch tax preparers across America. For this reason, they can also represent taxpayers from multiple states.

To achieve an EA designation, there are two options available –

Go for the Special Enrollment Exam (SEE)
Must hold the working experience with the IRS for at least five years.

Making any of these choices won’t be much difficult. If you don’t possess any experience with the IRS, then there is only one option left for you to take more advantage of, for the position of EA. To do so, you must first go for the best Enrolled agent course. iLead Tax Academy is best known for the US Taxation Course in Hyderabad.

To achieve an enrolled agent designation, you have to pass all three parts of the Special Enrollment Examination (SEE).

Individual
Business
Representation, Practices, and Procedures.

Nanda Kumar KV is an EA expert and CEO of iLead Tax Academy. His aim is to enrich India with education, employment, and entrepreneurship. He holds immense experience in finance, taxation in the USA, UK, and India, accounting, payroll processing and more. Every individual whose dream is the position of an enrolled agent should approach an EA expert who holds immense experience in US taxation.

To pass all three parts of the special enrollment examination, one must enroll for the best US taxation training. Most of the students and professionals choose self-preparation but to get a clear idea of the examination, it is very important to go for the best US Taxation Course in Hyderabad. iLead Tax Academy provides online and classroom training to professionals who are dreaming of a better career. Also, the best study materials required to prepare for all three parts of the special enrollment examination (SEE), being the best Enrolled agent course.

iLead tax academy possesses high profile experts who guide students and professionals throughout and after the training process. They give training on individual taxes, business taxes and tax representation with more interactive sessions that helps to clear all three sections of SEE. The reasons for being the best Enrolled agent course are interactive classroom training for US Taxation, Tax study material and handwritten notes, MCQ sets for all three parts of SEE, real-time case studies, and model question papers of previous examinations. Each part of the Special Enrollment Examination requires special attention and preparation.

Individuals:

The individual section covers some important topics of tax preparations such as income and assets, biographical information, specialized returns, international tax information, deductions, and credits. This section also includes the aspects of tax law and principles of representing taxpayers.

Businesses:

This section is all about preparing taxes for businesses and corporations where the deep knowledge of business entities, partnerships, business income, expenses, trusts, estates, credits, and retirement plans is much required to qualify for the third part of SEE. This test also includes farmers and organizations. To get a deep knowledge of all these areas, you need to attend the training sessions in the Best Enrolled Agent Training Institute.

Representation, Practices, and Procedures:

This is the final stage to achieve an enrolled agent position. This section covers the following –

Practices and Procedures such as requirements for enrolled agents, sanction-able acts, rules, and penalties.
Representation before the IRS like Power of attorney, building the taxpayer’s case, taxpayer financial situation, supporting documentation, legal authority and references, and related issues.
Specific Types of Representation such as representing a taxpayer in the collection process, penalties & interest abatement, representing a taxpayer in audits, and representing a taxpayer before appeals.
Completion of the Filing Process like the accuracy of results, information shared with a taxpayer, record maintenance, and electronic filing.

It is very important to go for the Best Enrolled Agent Training Institute to gain deep knowledge of all three parts of the special enrollment examination and for clearing EA exam. Moreover, it is also necessary to complete 72 hours of continuing education every 3 years. At least 16 hours per year that includes 2 hours for ethics to maintain your EA Certification.

iLead Tax Academy also provides soft skills training to the students and professionals to face the corporate world. Communication skills are much necessary to get placed in Big 4 and other USA MNCs.

santosh Audits, Enrolled Agent, USA Taxation

What happens if you fail in the EA exam?

Appearing for an exam and failing at it can be frustrating, to say the least even more, when you have spent a considerable amount of time preparing for the same. The reason for failure is something that puzzles most candidates. If you have failed the EA exam, there is nothing to worry about. You had a strong reason to attempt the exam in the first place, the same will help you get through it again. Here is all that you need to know if you have failed your Enrolled Agent exam.

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