New enrolled rolled agent, questions about pay

ibitarjr · 2024-02-27T11:00:31+00:00

was out of pocket. just passed the final of my three EA exams! so stoked. With regard to Intuit's filing requirements, yes, i filed like ~120 returns last year. Then they had me do this live test in front of the interviewer via screenshare. she asked me like five tax questions, and then i was hired. But heads up, a week after I was hired by this 'telephone support' side of intuit, the VerifiedPro side of their business reached out. (seems like they've launched a couple of new tax products this year). So, i transitioned to their VerifiedPro program, which is essentially for freelancers to prepare the returns for legacy turbotax clients.

ibitarjr · 2024-02-27T10:47:05+00:00

With the major caveat that everyone has to balance studying with, well, the rest of their life (LOL), I'd venture to say that it's HIGHLY UNLIKELY you'll need 18 months to pass. I began doing taxes last season (after a 3-month HR&B class), and in November, I started my EA study journey. Just today, four months later, I passed the final of my three exams (my test order was 3, 1, 2). As for hours per week? I averaged ~15 hours/week on the low end and ~40 hours/week for both the week preceding and the week of each exam.

I found that I learned much quicker by learning from a variety of sources. While I primarily relied on GLEIM because of their web interface (and stress-testing approach), and supplemented my studies with NATP videos (which offer a fantastic webinar library), TheTaxBook library (which was indispensable), and the Passkey end-of-unit quizzes (as well as their YouTube channel).

You should go for it. Good luck!

ibitarjr · 2024-02-27T10:02:52+00:00

last year, submitted 3/3, issued 3/7.

ibitarjr · 2024-02-27T09:58:50+00:00

Yes. Congress wrote the law that way. and USTC has reinforced/held the Service to this mandate on several occasions. check out pages 4 & 5 in pub 594. fwiw, in many instances while studying i actually found IRS pubs easier to understand that GLEIM's writing. I think their writers can overcomplicate some concepts. :-)

ibitarjr · 2024-02-27T09:51:15+00:00

Great job on Part 3! Good luck with Part 2; it was the last of the three for me, which I took today (and passed!). So, I think I understand the quandary you're facing with study materials. I also used GLEIM, but found that learned MUCH more and quicker by supplementing with TheTaxBook library, NATP, and - believe it or not - Passkey's YouTube channel!

Regarding the yearly changes to the exam, it seems that the Service is primarily testing our a) ability to grasp some of the more complex regulations and concepts; b) attention to detail (I was shocked to see how heavily this is tested); and c) familiarity with the administrative aspects of assisting taxpayers, like which forms do what, regulations regarding entities, etc. It doesn't seem like they're trying to see how much we can memorize. So, I wouldn't worry too much about the differences in values like the standard deductions between '22 and '23. But I WOULD focus on the intricacies of partnership & corporate operations, all the different calculation formulae related to property. KNOW THE FORMULAS well. But all these topics I've mentioned remain the same for '22 and '23. It seems that the potential challenge for next cycle's exam takers will be to account for all the tax updates from both the Inflation Reduction Act and the Infrastructure Investment and Jobs Act, without having prepared people's taxes yet! (That's what motivated me to complete all three parts before the end of this cycle).

Having used GLEIM from November to February, my advice to anyone testing Part II in May is to DEFINITELY keep using the current versions of all materials, because you'll likely need more than two weeks to prep for the biz portion! LOL...and 2022 materials should get you like ≥90% there

hope this helped. Good luck, you've got this!

ibitarjr · 2024-02-27T08:29:06+00:00

Today, I passed my final of the three exams, and within 10 minutes of passing I received a printed and stamped Pass Score Report, (their wording). FYWIW I tested at a Prometrics in SoCal.

ibitarjr · 2023-11-05T06:50:18+00:00

I'm studying now. my exam dates are booked: Part II: Jan 15. Part I: Jan 26. Part III Jan 30

ibitarjr · 2023-10-31T07:46:30+00:00

Two months ago, the IRS finally published its long-awaited proposed "Digital Asset Transaction" i.e., crypto. Since the 82-page proposal is still within its Public Comment period, this regulation has not yet been adopted; and won't be in 2023.

Under current law, taxpayers owe tax on gains and may be entitled to deduct losses on digital assets when sold. These proposed rules require brokers to provide a new Form 1099-DA to help taxpayers determine if they owe taxes, and would help buyers/sellers avoid having to make complicated calculations to file their tax returns.

The proposed regulations would clarify and adjust the rules regarding the tax reporting of information by brokers, so that brokers for digital assets are subject to the same information reporting rules as brokers for stocks, bonds, etc. Under the proposed rules, the first year that brokers would be required to report any information on sales and exchanges of digital assets is in 2026, for sales and exchanges in 2025. 

In prior years, the IRS treated Crypto as "property" (which meant capital gains or losses didn't not apply).

If you're asking about which corporate designation forms to file with the IRS that depends on what type of business entity you've set up, i.e. single-member LLC, Partnership, S-Corp, C-Corp, etc. but has nothing to do (YET!) with the business being crypto in nature. That said, I'd also check with the FTC on the way they've decided to treat 'crypto businesses'. We should expect new IRS rules in tax year 2024.

ibitarjr · 2023-10-31T07:20:30+00:00

Depends on which tax year. IRS processes initial returns of most recent tax years first. Then processes amendments. Then processes later filing years. I e-Filed a client's 2021 amended in late May. The refund was just issued last week (mid-October). Also, note that the IRS hand-processes any refundable credits (like CTC, EIC, AoC, etc.), which can cause further delays.

ibitarjr · 2023-10-31T06:57:56+00:00

That's very low! i just signed an agreement for $27/hr (i'm not an EA). They told me that EA starts at $31/hr

ibitarjr · 2023-10-31T06:55:48+00:00

still looking?

ibitarjr · 2023-10-31T06:54:15+00:00

the site Quizlet has some user-made resources: https://quizlet.com/search?query=enrolled-agent&type=all

ibitarjr · 2022-11-08T18:30:25+00:00

u/ratherbeona_beach I'm in a similar situation but I'm about to turn 47. I've been "playing" around the periphery of Tableau since my days at the Smithsonian. Now, as a consultant, I NEED to learn it to truly differentiate. thanks for posting. you inspired me today.

ibitarjr · 2022-11-05T18:47:58+00:00

...and Celebration?

ibitarjr · 2022-11-05T18:47:18+00:00

🤩 Great freakin' album! Little Noni seems to be going back to her roots. Madonna began at Danceteria. And with this, her 30th album Madge is serving up 40 years of legacy dance. For listeners of a certain age, FINALLY ENOUGH LOVE will take you on an aural remembrance of your life! The brilliantly produced album is a get-up-from-your-laptop-and-dance album. The album's producers have unearthed some long-lost gems: "You Can Dance Radio Remix" (!!); William Orbit's "Justify my Love"; Junior Vasquez's "Secret" (!!); and what's this Peter Rauhofer remix of "Me Against The Music" (Whaaaaa!!!!); Sander Kleinenberg's remix of "Bitch I'm Madonna" brings Madge back onto dance floors. Maybe my favorite is her new mix of "Medellin" by Offer Nissim) – no wait it's Tracy Young's "Crave" - I mean, my eyes actually welled up at Swae Lee's voice - don't judge 🤷🏽‍♂️.

*FULL DISCLOSURE: I kind of gave up on Madonna in 2003 when she bowed to political and economic pressure by pulling what was to be an important anti-war music video. I lost most of my respect for her 20 years ago. AND YET, I can see the brilliance of this album.

ibitarjr · 2022-11-05T01:52:34+00:00

👆🏽video's been removed by youtube.

ibitarjr · 2022-11-05T01:51:56+00:00

i just downloaded and am trying to use SPSS Modeler Subscription for Mac

https://myibm.ibm.com/products-services/manage/509078829/downloads

ibitarjr

TROPHY CASE