In the last few years, more and more people have been seeking to achieve enrolled agent (EA) designation. This is the highest level of practice that a taxation expert can achieve. An enrolled agent is a tax expert who has earned the privilege to represent taxpayers before the Internal Revenue Authority. If you are interested in achieving an enrolled agent license, you have the option of sitting for an EA (Enrolled Agent) Exam. Consider learning some of these few guidelines about this exam.
Who qualifies to sit for the EA exam? If you are planning to open or start your own office as a tax professional, you can take the exam. Accountants who also wish to work for accounting firms, financial institutions or large organizations can also take the exam. Insurance experts, financial experts and even real estate experts can also take the exam to increase their tax knowledge in their specific industries. Once you have received a license, you can work for individuals or large companies.
Which requirements have to be met before taking the exam? All potential students who are willing to take the exam must first pass a background check. A close look at someone’s records will easily identify any problems that could lead to cancellation of licenses in the future. Certain forms also have to be completed and submitted to an authorized training center. Another requirement is having enough knowledge regarding all tax codes, laws and regulations before sitting for an exam. All students have to complete an enrolled agent coursework before taking any further steps. Read http://www.mahalo.com/how-to-become-a-tax-lawyer for more tips regarding this exam.
How Do I become an enrolled agent after meeting all requirements? There are two main ways to become a licensed EA. IRS experience is the first way you can become an enrolled agent. If you have previous experience with the IRS, then you can qualify for enrollment. If you have no previous experience with tax matters, you have to sit for a computerized exam. This is known as a Special Enrollment Examination (SEE). The exam is divided into three parts with each of them having 100 questions. You don’t need to take the entire exam in one sitting meaning that you can do each part at your own convenient time. However, you have 3.5 hours to finish each part. Click here to find out more about these exams.
What happens when you fail the exam? You have the option at www.theeaguide.com of re-taking each part of the exam up to four times in case you fail the first time. The score for each part is given instantaneously after completion. The scores are graded using a scale of 40-130. To pass each part of the exam, you are required to achieve a score of 105 and above. There are numerous authorized training and examinations centers where you can enroll for EA (Enrolled Agent) Exam.
enrolledagentexams 