Switched Keys

Reading an article on the tax implications of Obamacare I found it interesting the people that the article quoted, and in particular, the titles of the individuals quoted. In the article, Tax Pros Face Obamacare Questions by Jeff Stimpson, of the seven professionals quoted, only one was a CPA. The rest were Enrolled Agents. The article quoted Steven Hanson, CPA, Kristin Roberts, [EA] of The Roberts Tax Group, Enrolled Agent Susan Floyd, Sherry Whah EA, Frank St. Onge, an EA, EA Stephen DeFilippis, and EA Cynthia Jeanguenat.

Considering that the article appeared in one of the key trade publications of the accounting industry, Accounting Today, recognition of the Enrolled Agent status was refreshing. At least according to this author, an Enrolled Agent is as much of a tax accounting professional as a CPA.

The unfortunate thing about the Enrolled Agent designation is that I don't think most people in the general population know what an EA is, or what they do (and can do). When they need their tax returns completed they often go to one of the big box tax return places, like H & R Block, or to a CPA.

In short, an Enrolled Agent is a tax expert, or as the IRS puts it, they have demonstrated "special competence" in tax matters. Also, Enrolled Agents are on par with CPAs and tax attorneys in being authorized to represent taxpayers before the IRS.