Is getting an EA worth it?

Individuals who are considering a new career path may find that becoming an enrolled agent is the right choice. Offering excellent job security and the opportunity to have jurisdiction throughout the United States, the position of enrolled agent can provide a good salary along with a rewarding career.

Is the Enrolled Agent certification worth it?

It's definitely recommended! Many CPAs have chosen to obtain sit for the Enrolled Agent Exam and earn the credential because it provides the same IRS representation rights as a CPA. But, unlike the CPA, an EA is recognized in all 50 states.

Is the Enrolled Agent respected?

Every tax professional should seriously consider acquiring the Enrolled Agent credential. It is a prestigious designation that allows the holder to represent taxpayers before the Internal Revenue Service (IRS) and is respected by clients and the IRS alike.

Should you get an EA or CPA?

If you have accounting needs with a micro focus, working with an EA could be the perfect fit for you. On the other hand, if you are interested in accounting practices that have nothing to do with taxes, such as auditing, then the CPA option may be best.

How hard is it to get an EA?

The EA Exam, also known as the Special Enrollment Exam (SEE Exam), is one of the easier tax professional credential exams, with about a 70% national pass rate. Compare that to the CPA and CMA Exams, which are both closer to 50% on average.

Is It Worth Becoming An Enrolled Agent (EA) If I Plan To Become A CPA?

Is EA harder than CPA?

CPA and EA Exams: Which is Harder? Most people who have taken both report that the CPA Exam is more difficult to pass than the EA exam. The reason for this is the amount of information both exams cover. EAs must be tax experts, so the SEE goes into great depth on tax matters.

What if I fail the EA exam?

If you fail part of the EA exam, you have 2 options for your next move. You can either take the failed part again, or you can halt your pursuit of the EA. It really is that simple.

What is the hardest part of the EA exam?

The Business section is considered the hardest among most tax preparers and often gives Enrolled Agent candidates anxiety. Due to its reputation, candidates often take Part 2 after passing at least one of the other two sections, meaning that candidates are more likely to have a study strategy in place before starting.

What are the benefits of being an enrolled agent?

EAs have unlimited representation rights. Without an EA credential, a non-certified tax preparer is only able to represent clients whose tax returns they have prepared and signed. In contrast, EAs can represent their clients before the IRS on any matter, including audits and appeals.

Why EA is better than CPA?

EAs and CPAs are both knowledgeable, experienced professionals who are required to maintain high ethical standards. The primary difference between an EA vs CPA is that EAs specialize in taxation, and CPAs can specialize in taxation and more.

What is the average age of Enrolled Agents?

Enrolled Agent Age Breakdown

Interestingly enough, the average age of enrolled agents is 40+ years old, which represents 66% of the population.

Is there a shortage of Enrolled Agents?

You don't need a college degree to become an Enrolled Agent. You don't need to know accounting or high level math to become an Enrolled Agent. There is a shortage of Enrolled Agents, who can handle more complicated tax returns and represent clients before the IRS.

What is the career outlook for an Enrolled Agent?

Enrolled agents with a Enrolled Agent (EA) certification earn more money. Between 2018 and 2028, the career is expected to grow 10% and produce 48,300 job opportunities across the U.S.

Is Enrolled Agent the highest credential?

Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years. Enrolled agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights.

Is it hard to pass the Enrolled Agent exam?

How hard is the EA exam? The IRS Enrolled Agent exam pass rate fluctuates from 70% to 74%. This is a high pass rate compared to other professional accounting exams, like the CPA, which has an average pass rate of 45-50%. The IRS sets a scaled passing score at 105 out of the available 130 points.

How much does an Enrolled Agent earn in the US?

According to Payscale, enrolled agents earn about $48,000 annually and experienced Enrolled Agents earn $75,000. Tax preparers who do not have a designation earn about $40k per year, on average. There are more options for finding work.

What does an Enrolled Agent do on a resume?

Enrolled Agents represent taxpayers before all of the administrative levels of the IRS. Their resumes highlight such skills as preparing approximately personal income tax returns using UltraTax software, and speaking with clients to determine the best tax outcomes for their individual situations.

Can I pass the EA exam in a month?

You may hear some enrolled agents boast that the EA exam is easy and that they passed it in just a few weeks. Yet, the reality is that most candidates are not able to pass in 1 month. You may need more than 1 month or even more than 1 year to pass.

How many hours to study for EA?

How much time should I expect to review the Enrolled Agent study material? Depending on experience, you should expect to invest up to 40-70 hours of total study time for each exam part.

How many times can you fail the EA exam?

Candidates who fail will be told their score, as well as diagnostic information to help prepare for re-examination. Candidates who do not pass a part of the exam after four attempts during the May 1 through February 28 test window must wait until the next testing period before attempting the part again.

What is a good score on an EA test?

And given that most EMBA / MBA programs are looking for scores around 150, that's a pretty good range to shoot for when you're setting your score goals for the Executive Assessment. Note: Some of the top-tier business schools have told our students that they prefer EA scores closer to 155 or higher.

What to do after passing EA exam?

Once you pass all of the exams, you need to complete an online application to apply for enrollment to practice before the IRS. Just type “form 23” in the search box on pay.gov to find it. You should receive your enrollment card in about 60 days from the date of your application.