Quote:
Originally Posted by Babubhat
Find a CPA with a masters in tax. Once passing the exam you specialize. It’s overkill for routine returns. Every preparer will use software. Remember YOU are responsible for the information on the return.
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Why would the taxpayer need a CPA with a masters??
Maybe Trump or Musk would but not the basic taxpayer.
An EA passes an exam to be registered with the IRS.
I'm not sure what continuing ed is for an EA.
A CPA passes a 2 1/2 day exam to get their CPA certificate. A CPA must complete 80 hours of continuing ed every 2 years (including an Ethics course)
It's the continuing education that matters - once you pass any exam you need to keep up with current tax law. And constant reading - the Journal of Accountancy, CPA Today, the National Association of Tax Preparers, the IRS news, the Wall St Journal (the quickest summary of tax laws just passed).
Don't go with an unlicensed tax prepayer. In the IRS e-news received last night a couple preparing tax returns in Rocky Mount, NC was convicted of prepraring over 1000 returns for over a loss to the IRS of over $5,000,000. They're going to prison with the requirement they make restitution to the IRS for $5,200,00!