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To sum it up simply, “Taxes are laws, and accounting is numbers,” Pinck says. The price for preparing a return may even be comparable between a CPA and a EA. Free filing of simple Form 1040 returns only (no schedules except for Earned Income Tax Credit, Child Tax Credit and student loan interest).

How Do You Qualify for the EA Credential?

The exam is the same from state to state, but every state has its own education and experience requirements. Most states require at least a bachelor’s degree and some previous public accounting experience under the supervision of a licensed CPA. Being either a CPA or an EA will put you in a class of elite professionals and make you stand out from the crowd. It really boils down to how much time you’re willing to commit to a credential and what area of practice you’d like to go into.

However, you still must pass all four parts of the CPA Exam within a rolling 30-month period. This time period begins as soon as you pass your first exam section. At that point, you have 18 months to pass the remaining three sections. If you don’t pass the remaining sections within this time, you will lose credit for the first section you passed.

Period of heavy reliance on credentials is nearing end, Mike Rowe says

CPAs must then gain a certain amount of work experience hours, depending on their state, under direct supervision of a CPA. Between school an work experience requirements, the time commitment to become a CPA is around 6-7 years. CPAs are regulated on the state level, and have to apply for licensure in other states should they change locations or work in multiple states. Both CPAs and EAs have comprehensive knowledge of the United States tax codes and can use their knowledge to represent their clients in audits, appeals and other matters with the IRS. You need to know the answer when you’re contemplating whether to earn the enrolled agent (EA) designation or the Certified Public Accountant (CPA) certification. Tax Preparers looking to further their careers have several options open to them, and these are two of the most popular.

Pass the EA Exam with Becker

Not only do EAs rates tend to be more what does ea stand for in accounting affordable, they can their tax law expertise to represent clients in tax proceedings, audit hearings and appeals. Enrolled agents are the only taxpayer representatives who receive their unlimited right to practice from the federal government (CPAs and attorneys are licensed by the states). That means if you need to file in more than one state and eventually need representation before that state in an audit or resolution case, the same EA can do it, Pinck says. EAs are federally authorized tax practitioners who can represent taxpayers before the IRS on a wide variety of tax matters, including collections, IRS audits, and tax appeals. They generally have no limits on who they can represent, and they can appear before any IRS office.

FSA’s CPAs offer broad knowledge, extensive experience, and strategic insights for business owners

This blog post can help you understand what you need to know between those two titles and how they can help you. Implement our API within your platform to provide your clients with accounting services. You can’t take the exam in March or April every year because the makers of the test are updating it. Otherwise, you can take the exam parts at any other time and in any order you like.

• This combination of skills is attractive to small businesses needing both audit and tax services, preferably coming from the same team.
• Additionally, an EA collects, prepares, and files tax returns for taxpayers.
• Once certified, EAs are federally licensed, allowing them to practice in any state.
• In short, CPAs can do everything an EA can do but an EA can’t do everything a CPA can do.
• For example, there might be separate charges for Form 1040, Schedule C (for business income), Schedule E (for rental income), and other forms included in your return.
• Their primary focus is taxation, enabling them to prepare tax returns, represent clients during audits, and provide expert tax advice.

If you need help with an IRS issue, such as a collection problem or a tax audit, an EA can often meet your needs. They’re typically adept at dealing with the IRS, and some EAs even worked as IRS agents before opening their own practices. Each state’s board of accountancy also has ethical rules and regulations that CPAs must follow. In addition, a certain number of the required continuing education hours typically must cover ethics. The IRS does not require applicants to have an accounting degree, or any degree for that matter, to become an enrolled agent.

Some CPAs don’t specialize in tax and many CPAs don’t even work in public accounting. Many CPAs go on to be CFOs of fortune 500 companies or even start their own business. EAs and CPAs are both knowledgeable, experienced professionals who are required to maintain high ethical standards. Possessing excellent auditing skills will open the doors to many great career options considering that the demand for tax experts is very high. Enrolled agents need to complete at least 72 hours of continuing education every three years, while CPAs need to complete continuing professional education(CPE) hours that vary depending on the state.

• At Taxfyle, we connect individuals like you with a licensed, experienced CPA or EA located within the United States.
• Your timing and location can impact the cost of tax preparation, too.
• Adtalem Global Education is not responsible for the security, contents and accuracy of any information provided on the third-party website.
• To answer this question, it’s essential to understand what EA represents in the field of accounting.

In fact, IRS says they are uncontested experts on such topics since that is their focus. Matching your situation with the right professional is in your best interest. You need to ensure that you receive the most effective support tailored to your financial circumstances. So, it is not a question of choosing an EA or a CPA to represent you. It is a question of identifying what you need for the best financial outcome.

CPAs specialize in general accounting and sometimes tax as well.

To qualify as an enrolled agent or CPA requires you to pass a licensure exam. The educational requirements mean tuition for your bachelor’s or master’s degree will count towards your certification costs. Successfully passing the SEE is the only requirement to earn an EA license.

An EA or CPA who is nearby might also have a network of local professionals, such as lawyers and bankers, that you can tap into if you need additional financial services. Certified public accountants, or CPAs, have a more flexible and expansive repertoire than EAs. They deal in all sorts of realms within the tax world, making them a great choice if your questions involve multiple topics. The IRS may disqualify you if your tax history includes fraud incidents, unpaid liabilities, or unfiled annual returns. Felony convictions related to financial fraud, breaches of trust, or other forms of financial dishonesty may also disqualify you if they are less than 10 years old. When you register for the examination online or by phone, you will receive a list of available testing times, dates, and locations.

To take the enrolled agent exam, you must pay a testing fee for each exam part. The exam has three parts, and the testing fee is $206, which comes to a total of $618. To pass the exam, you’ll also need to purchase an enrolled agent course that provides study materials covering the exam content.

The privilege applies to situations in which the taxpayer is being represented in cases involving audits and collection matters. This privilege does not apply to state tax matters, although a number of states have an accountant-client privilege. Additionally, candidates must fulfill state-specific licensing requirements, often including work experience under a licensed CPA. CPAs offer an extensive range of services beyond tax preparation, such as auditing, financial planning, and consulting, making them versatile advisors in many financial matters. A CPA is a licensed accounting professional recognized for their expertise in various financial areas. A CPA is a Certified Public Accountant, a credential issued by a state board of accountancy.