A Profile in Education

ACCOUNTAX SCHOOL OF BUSINESS dba
 
A.S.B. EDUCATIONAL  INSTITUTE



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IRS Continuing Education (CE) for Enrolled Agents, Enrolled Retirement Agents

Enrolled Retirement Agents

An Enrolled Retirement Plan Agent (ERPA) is a person who has demonstrated competence in qualified retirement plan matters, allowing that individual to represent taxpayers before the Internal Revenue Service

(IRS). An ERPA has earned the privilege of representing clients on issues involving the following programs:

Employee Plans Determination Letters; Employee Plans Compliance Resolution System; and Employee Plans Master and Prototype and Volume Submitter. In addition, ERPAs may represent clients with respect to 5500 and 5300 series forms, but not with respect to actuarial forms or schedules.

ERPA must follow renewal of continuing education requirements. ERPAs are held to professional and ethical standards of conduct. 

Acceptable programs for enrolled retirement plan agents must directly enhance a practitioner’s understanding in qualified retirement plans or relate to ethics for enrolled retirement plan agents. Acceptable fields of study include programs related to plan document requirements, plan operation and administration, filing requirements (Form 5500); and IRS programs (the Determination Letter program and the Employee Plans Compliance Resolution System). Unacceptable fields of study include programs not directly related to qualified retirement plan matters such as personal development, personal investments, office management, general computer software or sales-oriented presentations for office equipment and other system applications.


 
  

Enrolled Agents may receive credit hours for courses in Federal Tax Related Matter, Ethics, and Federal Tax Updates. Below is a list of the courses offered.

According to the Internal Revenue Service Circular 230, 10.6(g) Enrolled Agents and Enrolled Retirement Plan Agents must qualify for the renewal of  enrollment. In order to qualify for renewal of enrollment, an individual enrolled to practice before the Internal Revenue Service must certify on the application for renewal form prescribed by the Director of Practice that he or she has satisfied the requirement for continuing professional education. Requirements for enrollment cycle. A minimum of 72 hours of continuing education credit must be completed during each enrollment cycle. A minimum of 16 hours of continuing education credit, including 2 hours of ethics or professional conduct, must be completed during each enrollment year of an enrollment cycle.  An individual who receives initial enrollment during an enrollment cycle must complete 2 hours of qualifying continuing education credit for each month enrolled during the enrollment cycle. Enrollment for any part of a month is considered enrollment for the entire month.

The IRS will reach out to the various licensing authorities for attorneys, certified public accountants and other tax professionals to encourage them to support annual continuing professional education that includes federal tax law topics and updates and ethics for those individuals who are licensed by them and who prepare federal tax returns;

Tax return preparers will be required to self-certify the completion of continuing professional education at the time of registration renewal. The IRS will perform random checks to verify compliance.

Update Information:

Beginning immediately, the IRS will begin allowing continuing education credit for each of the three parts of the Enrolled Agent Special Enrolled ( SEE) test preparation programs. Students may now earn up to five hours of federal tax continuing education credit for preparation of the EA Test for each Parts 1 and 2, and two credit hours of ethics for Part 3.  The maximum amount for SEE preparation programs is 12 credit hours.

 

Continuing Education for Certified Public Accountants, Enrolled Agents, Enrolled Retirement Plan Agents, and Other Tax Professionals

The cost of each course is $25 per credit or $499 for an unlimited number of courses up to one year from registration.

 

The IRS will assess the quality of return preparation by those exempted from continuing professional education (e.g. attorneys, certified public accountants, enrolled agents and others enrolled to practice before the IRS to determine whether there is a need to expand continuing professional education to include these individuals in the future;

The IRS will reach out to the various licensing authorities for attorneys, certified public accountants and other tax professionals to encourage them to support annual continuing professional education that includes federal tax law topics and updates and ethics for those individuals who are licensed by them and who prepare federal tax returns;

Update Information for Enrolled Agents:

  • Beginning immediately, the IRS will begin allowing continuing education credit for each of the three parts of the Enrolled Agent Special Enrolled ( SEE) test preparation programs. Students may now earn up to five hours of federal tax continuing education credit for preparation of the EA Test for each Parts 1 and 2, and two credit hours of ethics for Part 3.  The maximum amount for SEE preparation programs is 12 credit hours. 

The following courses are offered:

  • The Advantages and Disadvantages of Incorporating a Sole Proprietorship

  • Representing Clients Before the IRS

  • Practice and Procedures

  • Data Thefts and Protecting Client Information

  • The Retirement Plan Series

  • How to Apply for Tax Exempt Status

  • Tangible Property Regulations

  •   Health Insurance Premium Tax Credit

  • Tips vs. Service Charges

  • Payment Alternatives When You Owe the IRS

  • Small Business Healthcare Tax Credits

  • Avoiding the Biggest Tax Mistakes

  • Data Thefts and Protecting Client Information

  • Tax Information for International Businesses

  • How to Address Client Issues

  • 2020 Individual Income Tax Refresher Course

  • 2020 Enrolled Agent Review Program

  • Taxation of Trust and Estates- Includes Fiduciary Accounting

  • Uploading Forms 2848/8821 with Electronic Signatures

  • The 2020 Tax Law Updates and Changes

 

The Enrolled Agent Review Program

This course incorporates theory, law, and practice in tax preparation. This is a live course through virtual learning. The cost of this program is $ 1800; $600 per course.  This cost includes live Zoom lectures.

 Enrolled Agents ( EAs) are tax practitioners with technical expertise in taxation and are fully authorized to represent taxpayers before all administrative levels of the Internal revenue Service including audits collections and appeals. Only Enrolled Agents, Attorneys, and CPA's are licensed to practice before the IRS and represent clients.

The Enrolled Agent Review Program is designed to prepare students for a career as a tax professional. Enrolled Agents are in high demand in small and large accounting firms, law firm, corporate accounting departments, state departments of revenue, investment firms, banks, and in private practice. Enrolled agents are Tax Experts and Tax Professionals. The average U.S. Salary for an Enrolled Agent is $45,000.

The Enrolled Review Program study material consists of three areas of taxation and one course in business mathematics.

Individual Taxation- Tax preparation and tax law for individual returns
Business Taxation- Tax preparation and tax law of small to large corporations, and other business entities
Representation, Practice and Procedures- Representing clients before the Internal Revenue Service using ethical practices and procedures per IRS circular 2.30.

After a student completes the Enrolled Agent Review, they take the Special Enrollment Examination ( SEE) at a Prometic local site. Prometric is the only testing site authorized, by the IRS, to give the SEE examination.

Once a student passes all three parts of the SEE examination , a federal license is issued
by the Internal Revenue Service. Students who pass the examination and receive their EA license, from the Department of Treasury/ IRS, may practice in all jurisdictions governed by the Internal Revenue Service.

In addition, According to the Internal Revenue Service Circular 230, 10.6(g) Enrolled Agents must qualify for the renewal of enrollment. In order to qualify for renewal of enrollment, an individual enrolled to practice before the Internal Revenue Service must certify on the application for renewal form prescribed by the Director of Practice that he or she has satisfied the requirement for continuing professional education. Requirements for enrollment cycle. A minimum of 72 hours of continuing education credit must be completed during each enrollment cycle. A minimum of 16 hours of continuing education credit, including 2 hours of ethics or professional conduct, must be completed during each enrollment year of an enrollment cycle.

We also provide the 72 hours of continuing education material, as an IRS Continuing Education Provider, to qualify for the Enrolled Agent Renewal. 72 Hours of continuing education must be completed within three of of becoming an Enrolled Agent in order to renew the license. The cost of the continuing education over a three year period is included in the cost of the Enrolled Agent Review Program.

 

 

 Individual Taxation Updates

Students are required to attend Zoom lectures four days a week for two hours. The cost of this program is  $ 600 per course.         This cost includes live Zoom lectures.

This course is designed to provide basic theory and practice in taxation. The course prepares students for occupations or careers in taxation.

 

  • Preliminary Work to File Tax Returns

  • Income and Assets

  • Retirement Income

  • Real and Personal Property

  • Adjustment to Income

  • Itemized Deductions

  • Credits

  • Taxation

  • Advising the Taxpayer

Estate Tax

Gift

FBAR