Serving Reno Sparks
2135 Green Vista Dr, Ste. #107
Sparks, NV 89431
Also called Enrolled Agents, they have been licensed and certified by the federal government in all tax matters to prepare or represent you, the taxpayer, before the Internal Revenue Service (IRS).
You can turn to Business Financial & Tax Solutions Inc. for Enrolled Agents who can help you with all your tax related matters. Get in touch with us today!
If you're wondering why you should hire our Enrolled Agent instead of going with a regular tax agent, know that they belong to a niche group consisting of only 46,000 practicing agents. Only Enrolled Agents are licensed by the government to represent you at the IRS. They have to undergo special examinations regularly to maintain their license. Contact us to learn more!
Enrolled agents (EAs) are America's Tax Experts. EAs are the only federally licensed tax practitioners who specialize in taxation and also have unlimited rights to represent taxpayers before the IRS.
“Enrolled” means to be licensed to practice by the federal government, and “agent” means authorized to appear in the place of the taxpayer at the IRS. Only enrolled agents, attorneys, and CPAs have unlimited rights to represent taxpayers before the IRS. The enrolled agent profession dates back to 1884 when, after questionable claims had been presented for Civil War losses, Congress acted to regulate persons who represented citizens in their dealings with the U.S. Treasury Department.
The license is earned in one of two ways, by passing a comprehensive examination which coversall aspects of the tax code, or having worked at the IRS for five years in a position which regularlyinterpreted and applied the tax code and its regulations. All candidates are subjected to a rigorous background check conducted by the IRS.
Enrolled agents advise, represent, and prepare tax returns for individuals, partnerships, corporations, estates, trusts, and any entities with tax-reporting requirements. Enrolled agents’ expertise in the continually changing field of taxation enables them to effectively represent taxpayers at all administrative levels within the IRS.
The IRS Restructuring and Reform Act of 1998 allow federally authorized practitioners (those bound by the Department of Treasury’s Circular 230 regulations) a limited client privilege. This privilege allows confidentiality between the taxpayer and the enrolled agent under certain conditions. The privilege applies to situations in which the taxpayer is being represented in cases involving audits and collection matters. It is not applicable to the preparation and filing of a tax return. This privilege does not apply to state tax matters, although a number of states have an accountant-client privilege.
In addition to the stringent testing and application process, the IRS requires enrolled agents to complete 72 hours of continuing education, reported every three years, to maintain their enrolled agent status. NAEA members are held to a higher standard, they are obligated to complete 30 hours per year (for a total of 90 hours per three year period). Because of the expertise necessary to become an enrolled agent and the requirements to maintain the license, there are only about 46,000 practicing enrolled agents.
Only enrolled agents are required to demonstrate to the IRS their competence in all areas of taxation, representation and ethics before they are given unlimited representation rights before IRS. Unlike attorneys and CPAs, who are state licensed and who may or may not choose to specialize in taxes, all enrolled agents specialize in taxation.
Enrolled agents are required to abide by the provisions of the Department of Treasury’s Circular 230, which provides the regulations governing the practice of enrolled agents before the IRS.