What is an ENROLLED AGENT?

What does EA stand for? It might stand for Excellent Accountant, or Exceptional Ability. While these terms accurately describe our tax preparation staff, neither is the correct answer. The owner of Paramount Tax and Accounting, LLC is an EA, or Enrolled Agent. Every year the IRS administers an extensive examination about income tax law concerning individuals, and business entities (corporations, partnerships and limited liability companies, estates and trusts). There are three exams that are 3.5 hours each to complete. Those who pass all parts of this test are given the designation Enrolled Agent. Because Enrolled Agents demonstrate substantial knowledge of the Internal Revenue Code, they are granted the same powers, in administrative matters before the IRS, as an attorney or a Certified Public Accountant.

This means that Paramount Tax and Accounting, LLC can represent clients before the IRS (for instance in matters of tax issue disputes, at tax return audits, or in collection negotiations), execute certain tax-related documents for taxpayers, and pursue representation of taxpayers to the Appeals division of the IRS. Enrolled Agents are controlled and guided by IRS Circular 230 that concerns the same standards of practice and ethical considerations as attorneys and CPAs.

Enrolled Agents are required to reenroll every three years. To qualify for reenrollment the EA must have completed 24 hours of continuing professional education each year, two of the annual hours must be on the subject of ethics.

An EA is a person with demonstrated ability in the field of income tax law knowledge and interpretation. The IRS recognizes their abilities, and they can work with and for taxpayers in all matters of administration before the IRS. In addition they are known for their understanding of IRS tax return and collection processes.

For more information, visit the Internal Revenue Office's website.

Paramount Tax and Accounting LLC offers expert advice and guidance for tax preparation, tax planning, IRS representation and accounting services. We are currently serving the Suwanee, Buford, Sugar Hill, Flowery Branch, Oakwood, Gainesville, Duluth, Johns Creek, Cumming, Alpharetta, Roswell, and surround cities in North Atlanta out of our Suwanee and Oakwood offices. We also work with clients virtually by using technology to our advantage.