Eva Rosenberg, also known as The TaxMama, joined the AccountingWEB community today in a workshop in which she explained the ins and outs of the Enrolled Agent status.
This professional status is bestowed by the U.S. Department of Treasury to tax experts who pass a rigorous two-day exam, covering Individuals, Sole Proprietorships and Partnerships, Corporations, Fiduciaries, Estate and Gift Tax and Trust, Ethics, Record keeping, Procedures, Appeal Procedures, and Exempt Organizations. Although no specific formal education is required, specialized training in taxation is necessary for gaining the knowledge necessary to pass the exam.
Once certified, an EA may represent clients before the IRS. The EA may also take an exam which, if passed, entitles him or her to represent clients before the Tax Court. Enrolled Agents can make as much money as CPA tax specialists, without having to contend with the competative rigors of the public accounting profession.
Explaining that there will always be a need for trained tax professionals, Rosenberg states, "The tax system isn't going anywhere. Someone with 'expertise' is a valuable asset to businesses, especially now with the maze of Internet tax issues coming up."