Venable Accounting Inc. - What's An EA
Vicki Venable, Enrolled Agent
What's an ea?
An Enrolled Agent is an individual who has demonstrated (by an intensive two day exam) technical competence in the field of taxation and can represent taxpayers before all administrative levels of the Internal Revenue Service.
Unlike attorneys and CPA's, who may or may not choose to specialize in taxes, EA's specialize in matters of taxation and are currently the only taxpayer representatives who receive their right to practice from the United States Government. (CPA's and attorneys are licensed by the states.)
Only EA's, attorneys and CPA's may represent taxpayers before the IRS.
EA's are required to complete a minimum of 30 hours of continuing education each year, with at least 2 of those hours ethics related.
Finally, legislation has been passed requiring all paid tax preparers to be registered, tested for basic competency in taxation, and obtain 15 hours/year of continuing education. This legislation will not take affect until 2011. While there are many competent, experienced preparers who will gladly register, there are also many, many unscrupulous individuals who will be trying to take advantage of this last free year. We urge you to scrutinize your preparer carefully. Does he/she sign your return as preparer? It is illegal for a paid preparer not to sign your return. Did he/she take continuing education courses on the current tax legislation? Will you be able to reach him/her later in the year if you get a nasty missive from the IRS? Does he/she pressure you into taking a refund loan or RAL (predatory 2 week loans with interest rates up to 500%)? You are entrusting this individual with your personal identity and financial information. Do not hesitate to ask questions! If you are not comfortable with the answers, pick up your paperwork and "run, Forrest, run".
