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Sunday, December 03, 2006

Tax help - looking beyond CPAs

With January around the corner, many non-do-it-yourself taxpayers will soon be looking for assistance from their CPAs in filling out their taxes. CPAs have built such a name for their profession that they are usually first to be associated with taxes in most people's mind. However, a less expensive option may be to use the services of Enrolled Agents instead of CPAs.

Although generally less expensive than the CPAs, Enrolled Agents are not necessarily less competent than the CPAs when it comes to taxes. This is because many Enrolled Agents may actually have worked directly for the IRS. In addition, just like CPAs, Enrolled Agents have to pass a written exam in order to practice as an Enrolled Agent. They must also meet certain experience requirements, and pass a background check to ensure that they are qualified to practice before the IRS. In addition, both the IRS and National Association of Enrolled Agents specify continuing education requirements for them. Another good point is that just like CPAs and tax attorneys, Enrolled Agents are also allowed to represent taxpayers before the IRS, for example, in the event of an audit.

For any one interested in doing taxes for other people, Enrolled Agent program may be a good option to consider, although I believe that if some one meets the education and experience requirements, it is better to become a CPA because of wider and better professional opportunities.

To get more info, see:

Enrolled Agent Overview

and

National Association of Enrolled Agents

posted by Ruby @ 12:01 PM

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