The average person has never heard of an Enrolled Agent, and for good reason: there are less than 65,000 practicing agents worldwide. However, when it comes to tax expertise, an enrolled agent is second to none. Here are some facts about the designation:
- To become an Enrolled Agent, a person must either have certain prior experience as an IRS employee or must pass a three-part exam (a total of 10½ hours) on all areas of the tax code, including individuals, partnerships, corporations, and practice/procedures.
- Enrolled Agents are the only tax professionals who are tested and licensed by the U.S. government.
- Enrolled Agents can represent taxpayers at any level in dealing with the IRS, including preparing tax returns, responding to notices, and representing taxpayers during an audit.
- Enrolled Agents must complete 72 hours of continuing education in taxation every three years.
- Enrolled Agents are bound by a code of ethics, which can be found in the Department of the Treasury’s Circular 230.
- Check out this official IRS video on how to choose a tax preparer:
