NAEA National Association of Enrolled Agents An Introduction to the Enrolled Agent Profession .
-
Upload
maximilian-clarke -
Category
Documents
-
view
222 -
download
0
Transcript of NAEA National Association of Enrolled Agents An Introduction to the Enrolled Agent Profession .
NAEANational Association of Enrolled Agents
An Introductionto the
Enrolled AgentProfession
www.naea.org
What is an Enrolled Agent?Enrolled Agents (EAs) are tax
practitioners with technical expertise in taxation and are fully authorized to represent taxpayers before all administrative levels of the Internal Revenue Service (IRS) including audits, collections and appeals.
Enrolled Agents can be self employed or work for small or large firms.
What license allows tax professionals to represent taxpayers before the IRS?Enrolled Agent – Federal –
Licensed by the United States Treasury
Certified Public Accountant –Licensed by a state
Attorney – Licensed by a state
How do Enrolled Agents differ from other licensed taxpayer representatives?
Enrolled Agents are the only taxpayer representatives who receive their license from the United States Treasury.◦CPAs and Attorneys are licensed by
each individual state.
How many Enrolled Agents are there?
There are approximately 40,000 Enrolled Agents in the United States
There are also Enrolled Agents living and working in foreign countries
What % of all jobs in the United States are provided by small businesses?
A. 20%B. 33.3%C. 55%D. 1%
POP QUIZ
What % of all jobs in the United States are provided by small businesses?
A. 20%B. 33.3%C. 55% CorrectD. 1%
POP QUIZ
What are the requirements to obtain an Enrolled Agent license?
Pass the IRS Special Enrollment Exam
-OR- Be an employee of the IRS for 5
years – regularly interpreting the provisions of the IRS Code and Regulations
What is the Enrolled Agent exam?
Comprehensive three-part tax exam which covers taxation issues for:◦Individuals◦Businesses
Corporations, partnerships, estates and trusts
◦Representation, Practices and Procedures (including Ethics)
How comprehensive is the Enrolled Agent exam?
You are allowed 3.5 hours to complete each of the three parts
Each part contains 100 multiple choice questions
Parts can be taken in any orderPassed parts of the exam remain
active for 2 years
What is the historic pass rate for the Enrolled Agent exam?
A. 60%B. 90%C. 42%D. 70% Correct
POP QUIZ
Who is the largest taxpayer in the United States?
A. MicrosoftB. ExxonMobilC. Berkshire HathawayD. AppleE. Chevron
POP QUIZ
Who is the largest taxpayer in the United States?
A. Microsoft B. ExxonMobil Correct $31 Billion (2013)C. Berkshire HathawayD. Apple E. Chevron
POP QUIZ
What employment opportunities are there for an Enrolled Agent?
Enrolled Agents are needed in:◦Small and large public accounting
firms◦Law firms◦State departments of revenue◦Investment firms◦Banks◦Private practice
The IRS Commissioner is the head of the Internal Revenue Service. The Commissioner is appointed by the President with the consent of the Senate. The Commissioner serves a term of
A. 1 yearB. 4 yearsC. 5 yearsD. Indefinite
POP QUIZ
The IRS Commissioner is the head of the Internal Revenue Service. The Commissioner is appointed by the President with the consent of the Senate. The Commissioner serves a term of
A. 1 yearB. 4 yearsC. 5 years CorrectD. Indefinite
POP QUIZ
In 1862 the first personal and corporate income tax was levied to help pay for the Union effort in the Civil War.
This was a graduated tax with 2 tax rates of
A. 1% and 2%B. 10% and 12%C. 15% and 20% D. 3% and 5%
POP QUIZ
In 1862 the first personal and corporate income tax was levied to help pay for the Union effort in the Civil War.
This was a graduated tax with 2 tax rates of
A. 1% and 2%B. 10% and 12%C. 15% and 20% D. 3% and 5% Correct
POP QUIZ