Academics
 

Enrolled Agents

 IRS ENROLLED AGENT
An enrolled agent is a person who has earned the privilege of practicing,  that is, representing taxpayers before any office of the Internal Revenue Service.  An enrolled agent can negotiate with the IRS during examination and appeals, and act in place of a taxpayer signing consents and executing agreements on their behalf.  An enrolled agent is the only professional granted a right to practice directly from the U.S.  government.  An enrolled agent is considered a tax specialist, which sets them apart from attorneys or CPAs who do not always specialize in taxes.

Benefits of Becoming an Enrolled Agent:
• IRS Examinations are up over 100% - According to enforcement results published by the IRS in 2009, examinations of individual returns increased over 100% since year 2000.
• Growing need for representation - With IRS enforcement activities on the rise, there is a growing need for enrolled agents who can assist taxpayers in dealing with IRS collection activities.
• Unlimited Earning Potential, Enrolled Agent Salary - You control your career. Why wait for someone to hire you? You can start your own business with unlimited earning potential.
• Recession proof career - Income taxes are not going away anytime soon. Competent representation is hard to find, and the enrolled agent designation can help you reach the pinnacle of your profession by allowing you to offer a wide range of services beyond just tax preparation.
• Expand your financial practice - If you are a financial planner already in the business of advising clients, an enrolled agent designation can provide you with an opportunity to offer additional services.
• Credibility - The credibility you gain as an enrolled agent can help you command higher fees than others who have not demonstrated their competence.
• Increased Expertise - Becoming an enrolled agent will improve your knowledge about the various rules and regulations and can help make you a better tax practitioner

Requirements for Enrolled Agents: 
• An enrolled agent (EA) does not need a college degree; rather they must demonstrate special competence in tax matters by passing all three parts of the IRS Special Enrollment Examination. An Individual with 5 years of relevant employment with the IRS may apply for enrollment to become a tax agent (EA) without taking the exam. 

• The EA Exam. Officially known as the Special Enrollment Examination (SEE) is a three-part exam administered by Prometric on behalf of the Internal Revenue Service.  Each part is taken as a separate 100 question EA exam and you will have 3.5 hours to answer all questions for that part.  A candidate may re-take each part up to four times each testing period.

Course Description
Park Avenue CPA Review (PACPAR) will teach live classes at the Suffolk Campus of Molloy College.  PACPAR provides students with a high quality alternative to the mass market review programs at an affordable price.  The advantage to this study is outstanding, experienced faculty comprised of top-rated accountants and current IRS agents who can share true situational experiences on how to prepare for presentation before the IRS.  PACPAR  uses the outstanding materials offered by FastForward Academy Exam Study Guide which includes:

- Free Online questions
- Simulated Practice Exams
- Performance Measurements
- The following three areas of study are covered:
    • Part 1 Individuals
    • Part 2 Businesses
    • Part 3 Representation, Practice and Procedures

Part I - INDIVIDUALS
This course covers various topics when filing an individual tax return. Topics include: Filing Information, Gross Income, Depreciation and Basis, Gains and Losses, Items Excluded from Gross Income, Adjustment to Gross Income, Standard and Itemized Deductions, Tax and Credits and Estate Tax and Gift Tax.

Part II - BUSINESSES
This course covers the major topics when filing business returns. Topics include: Business Entities, Business Taxation, Business Property, Corporations, Partnerships. Retirement Plans, Specialized Returns.

Part III - REPRESENTATION, PRACTICES, AND PROCEDURES
This course covers the interactions between the Enrolled Agent, the Client and the IRS Agent.  Topics include: Preparing Returns, Practice Before the IRS, Representation Before the IRS. Tax Law.

Please note that this course is designed for someone who is already preparing tax returns for a fee. It is not a tax preparation course. While it is possible to become an Enrolled Agent without any prior background, it would be very difficult to do so.

Instructors:   
David Spaulding,  EA (first four sections)
Ernest Barone, CPA, IRS Appeals Officer (last four sections)      

Location
The course will be offered at Molloy's Suffolk Center located at Route 110, 7180 Republic Airport, East Farmingdale. Click here for directions.

Schedule
The course will be offered for 4 Tuesdays & 4 Thursdays, October 22- November 19 , 2013 from 6:30 p.m. - 9:30 p.m.     

Registration and Tuition
The course is offered in its entirety for $799. Students and Alumni from Molloy will receive a 10% discount.  Those individuals who have previously passed one or more parts will be eligible to receive a one time 10% discount for the entire program upon presentation of a completed part certification.

Students should register for classes at least one week prior to the start of classes. Online registration is available by clicking here.  Phone in registration is available by calling 516 678 5000 ext. 6206 with your MasterCard or Visa. To register in person, by fax or mail, please follow the directions on our web page: www.molloy.edu/ce/registration under Registration. Course Number: 13UENA1000A

Questions?
For questions regarding the course, course schedules and/or registration, please call 516-678-5000 ext. 6206 or email conted@molloy.edu.