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Feature Article July 28, 2010

Update On The New Tax Preparer Regulations

- July 28, 2010, 5:24 am


According to the IRS, there are roughly 1.2 million paid tax preparers in the United States. Approximately 46,000 of these individuals are enrolled agents. In addition to preparing returns, the EA designation can allow a practitioner to represent and act on behalf of any taxpayer before any office of the IRS. When practicing before the IRS an enrolled agent has the same privileges as a CPA or Attorney, who are also considered Circular 230 professionals. Unenrolled preparers (unlike enrolled agents, attorneys or CPA's) do not have the full privileges of practice before the IRS. They may only represent taxpayers in a limited capacity for returns that they prepared.
Why have only a select few tax professionals chosen to earn the EA credential? After all, most have no credentials

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