I am beginning to think is it worth being a tax preparer??? The clients can be funny, but the IRS is hestical. Not that that choice has anything to do with fingerprints. From context, I think you mean this in a pejorative way. But I'm not sure of the precise meaning. Is "hestical" a euphemism for some unspeakable concept, an accidental misspelling of soft c where a hard c is required, a poetic substitution of a rhyming word, a new word for something that exceeds anything ever described before, an ancient word for something that hasn't been seen in ages, an anagram for list ache, simple fantasy, a drug-induced hallucination, or some other verbalism?
Hey, I was fingerprinted and had a background check just to get a license to sell cars. Doncha think? The part that chaps my backside is the fact that I had the same fingerprinting and background check to get my EFIN number. Yet our government run agency cannot share that information between departments within the same organization.
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And this is the same government that wants us to believe they can manage our healthcare and it be done properly?? Yeah, sharing across different parts of the agency would be nice, but that might be a bit much to ask for. Maybe next year they will be set up to cross reference so that you'll only need one set of prints. In fact, that might be a good thing to bring up to your Practitioner's Liasion. Well they do manage our healthcare if you have medicare, and a lot of seniors seem to like it.
If that is the definition of administering something properly, then there is no complaint about how our government is spending our debt? I am certain that "a lot of people like it" would fit the frivilous and reckless spending of trillions of deficit dollars??
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No the admin isn't the best; not enough checks on fraud and the big givaway to Big Pharma when the drug benefit was added the drug benefit BTW was really not out of concern for seniors, but pandering for votes and a way to further bankrupt the program, so that the Neo-cons could tout a reason to gut the social welfare programs. Now if Medicare could bargain for drugs the way private insurers do, how much less would the government pay for drugs? But at least medicare keeps our seniors from going bankrupt becoming indigent for lack of medical care. Look, I am frustrated not with government, which really is a necessity, but with politics and ignorance.
Now I know the registration is a big pain for those of you who haven't had to do anything in the past to declare yourself a tax preparer and some of you do go above and beyond to learn and keep up with changes, etc but there is a vast group out there who don't , but licensing, exams, CPE requirements, and Circular are things that EAs, CPAs, and tax attorneys have had to deal with since we got our licenses.
So I view this as a leveling out. Some of this stuff is why CPAs and EAs really have to charge more; it's just damn more expensive keeping up with education and licensing. IMHO it's been a travesty that for the most part tax preparers have been under less oversight than the barbers we joke about giving tax advice.
Do you have your car s repaired only by a Dealership Certified Master mechanic? Unless you answer yes, you have no basis for making your statements about EA's and CPA's as if they are the only ones who study, learn, train and are knowledgable enough to properly prepare a tax return. It is an effort in futility. The IRS by any business standards is poorly run, administered and operated. Also, if you take your car to an independent shop, it is no different than an unlicensed preparer doing tax returns. Under the new rules, once you pass the test, you do not have to retake it.
I passed the CPA exam 11 years ago; I don't have to retake it. EAs don't have to retake the exam. That's not a relevant arguement. I know there are a whole lot of previously unlicensed preparers that are diligent in their education and take this profession seriously. There are others that are not. I'm tired of the bitching and moaning from y'all that will have to step up; I paid a hell of a lot of fees and a lot for education when I had 50 clients and those same fees and costs when I had 30, and I still pay those fees now that I've broken the client level.
So, since we have already established that I paid more fees than the unlicensed preparers at 50 clients and stayed in business, and had a profit, and enough of a profit that I did not want to leave the profession or stop working my own clients , why do you say that anyone with 50 clients will drop out? Either they raise their prices to cover the fees, or they don't and take less profit. Or they stop preparing taxes.
The main part of the fees are a one time thing, fingerprints, testing, etc. The CPE requirement is something that any professional should have been doing all along. I'm just tired of the bitching about what is not a big deal IMHO. Yes, nothing will stop the person who buys a copy of TurboTax and doesn't sign the returns.
But the laws do put teeth into the prosecution of such people. And data mining will help the IRS find them and shut them down. The annual renewal fees, etc are just additional business expenses. Again, none of these recent actions by the IRS will accomplish their stated goals. I have personal clients even before mandatory testing and before I started the trek to get my EA.
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My business was built on integrity, knowledge I make my share of mistakes too and the willingness to be up to date, continuing to be educated on the latest changes, I have 3 times the number of CPE credits needed for an EA, and I am not even an EA and informed. Most of the general public have no idea of what an EA is, they think that CPA is the holy grail of accounting, yet I could fill a book with all the instances of a "CPA" not knowing tax law correctly that I have corrected.
Do you really think the new title given to those that pass the, as yet to be seen, tests, will mean anything to the public at large? BTW, Pacun was the one that suggested the 50 or less client preparers will be forced out of business. My point is though you may be getting more than the required CPE and going far above and beyond what the average unlicensed preparer does, many do not, and these are the people I am competing with for fees, as well as you. Even if many people do not recognize what an EA is or what the title encompasses, it does give you the ability to represent your clients in audit, to get a POA, and therefore expand your practice into areas you formerly could not.
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And even EA's don't know everything. Can you spot all the mistakes in this article? Now I'm not sure in which forum I read it, but software does code where an efile comes from.
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Now this won't stop unresgistered preparers from doing paper copies on TurboTax, but the efiles can be tracked. They do already. I apologize for appearing to only reply to your post rather than to both yours and Pacun's. I'm not good with quoting posts. I agree Jack that what the IRS is doing will not stop unregistered preparers, but for sure will put an extra economic burden on us. I became EA On June 7th Now I have to pay for another conference to get my CPE credits for this year.
To be honest with you, I learn more here in this forum than on any conference I attend, but that's another subject. Going back that unregistered preparers will not stop They buy Turbo tax and they print the returns and give copy to the client. Then they go to www. They create an account for them and enter all the information.
To eyes of the clients, they are legit because they were able to efile for them, right? This tax season, I had a lady who went to one of these places. They told her that they were having difficulties efiling but they were going to try again. They kept trying and the lady got desperate because she needed the 8K she was expecting from the IRS.
She came to my office and I interviewed her. She doesn't speak any English, she doesn't go to school, her children are 8, 9, 11 and yet she was claiming the American Opportunity credit".
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She was happy that I spotted the mistake and asked me to file for her. I asked her to go to the other place and ask them to stop any attempt to file for her. She did and I efiled. She got her money. I asked her to call the IRS and return it because the second return which was eventually mailed by the other preparer was incorrect. She called the IRS stating that the second return was a mistake and she wanted to return the refund. The IRS told her Everything is OK, cash the check and don't worry because everything is OK.
I couldn't represent her on the second claim because I didn't prepare the return and I was not an EA. I really enjoy putting a smile on someon I have been in the beauty industry for over 7 years. I have experience in the freelance Are you tired of juggling important and simple tasks?
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