Convenient links, our FAQ, and other useful information.
What’s an Enrolled Agent (EA)?
Simply put, it’s that rare breed of finance geek that loves helping clients with tax issues.
It is a federally-authorized tax practitioner who has technical expertise in the field of taxation and who is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels – examination, collection, and appeals – of the Internal Revenue Service. It is the highest credential the IRS awards.
Difference between EA and CPA?
The difference between a CPA (Certified Public Accountant) and an EA can be prepared to the differences between physicians. A physician may know a bit about each specialty but limit their practice to one area. Just because someone’s a physician doesn’t mean you’d want them operating on your heart. They may be a podiatrist. A CPA is allowed to prepare taxes and represent clients, but may not specialize in it. An EA only deals with taxes. A CPA can be an EA, and an EA can be an accountant and/or a CPA, but they do not necessarily have the same knowledge and expertise.
Another difference is that CPA is licensed at the state level and can only practice in the state they are licensed, whereas an EA is a federally licensed tax specialist. In this role, they have unlimited rights to represent taxpayers before the IRS in any situation.
My business is an LLC, why do I get asked what type of business I am for taxes?
An LLC is a state and legal designation, not an IRS entity. A business that is an LLC may be a sole proprietorship, partnership, or corporation.
“Megan Austin is the person you want with you during any kind of challenging tax situation. She worked through the complexities of a back-tax assessment and instead of me owing the IRS $20,000, it turned out they owed me $1,800. She was so reassuring and light-hearted against a somewhat opaque agency. I highly recommend Megan! ”
“Teren, Inc. reached out for assistance when our books were in total disarray and without structure. Megan, with Treu Accounting accepted the challenge without hesitation and asked the right questions, quickly understanding our company and its needs. Shortly thereafter, our accounting system was trued up and ready to file. Megan continues to provide consistent professional accounting services and advice related to current and ever changing business tax compliance. I could not be more pleased, and I highly recommend Treu Accounting for all business accounting and bookkeeping needs.”
“Megan has provided valuable counsel and advice on several occasions to me as well as to some of my clients regarding complicated tax issues. She is a skillful and effective negotiator with the IRS and state tax authorities. I referred one of my clients to Megan who had received a letter from the IRS demanding over $20,000 in additional taxes, penalties and interest. Megan was able to negotiate a final settlement of just a few hundred dollars. Megan is my go-to resource for all income tax matters.”