There are several ways in which Individuals can set a foothold in the finance industry as a career move. Irrespective of whether you are a student or a professional looking for a career move, there are plenty of options available. You can either get into accounting, become an attorney, become an Enrolled Agent or become a financial analyst. Of all the options, an Enrolled Agent is one of the most viable options.
The amount of time needed to become an Enrolled Agent is relatively less and brings a lot to the table. If you are someone who wants to make a career in the field of taxes, you should seriously consider becoming an Enrolled Agent. On becoming an EA, you get a license from the IRS as a tax practitioner and have a lot of other benefits as well.
Represent Clients Before the IRS
An Enrolled Agent has as much capability as a CPA, if not more when it comes to representing an entity before the IRS. The IRS allows EA’s to represent their clients without any restrictions. Once you become an EA, your name becomes a part of the IRS National Database. And maintaining your PTIN (Preparer Tax Identification Number) and CE (Continuing Education) will ensure that you continue being an EA. An EA can handle any type of taxes, be it appeals or collection or audits, for any taxpayer in any state in the USA.
Tax Expert
EAs are authorized by the IRS for unlimited representation. This power of representation is not given to anyone and everyone. During the process of becoming an EA, candidates learn a lot about the taxes and eventually develop to be a tax expert. The EA designation is recognized across all the 50 states and it comes with a lot of respect as well. Being a tax expert brings a lot to the board. Especially during the tax season, when there is an immense demand for tax experts, your EA certification will come into its own.
Better Earning Opportunities
The credential of an EA brings much better earning possibilities. You can offer a lot of tax-related services and make money doing the same. You can help individuals or businesses with preparing or filing their tax-related documents, attend hearings on your client’s behalf, providing guidance to others on tax implications and so on.
As you gain expertise, you can handle more complicated tax returns, where the potential of earning increases drastically. Though it might not sound very lucrative, there is a lot of demand for such services across the board. And having the credential of an EA will help you tap into this segment and make the most of it. And most importantly, you have the freedom to pick as much or as little as you want to work and work at your convenience.
Sturdy Line of Work
Irrespective of how many changes come into the picture, taxes will most certainly stay. And as long as taxes stay, the role of an EA remains relevant and important. To theoretically, as long as taxes are around, EAs will have enough work at their hands. Even though there are economically tough times, an EA will remain in demand. And for instances where there are changes to the tax code, the role of an EA becomes even more important. It is safe to say that the designation of an EA will get you enough credentials to have continuous work.
An Enrolled Agent has a lot of career opportunities. Their versatility lies in the fact that they can represent individual clients or organizations. It eventually boils down to an EA to get involved with taxes that are challenging enough to keep them engaged and motivated.