Frequently Asked Questions
When should I contact an accountant?
As soon as you start to think about your business, an accountant can help you take the next steps. We can discuss your business's organization, tax purposes and operations, along with target pricing and profit margins.
What is IRS e-file?
E-file is a system for submitting tax documents to the US Internal Revenue Service through the Internet or direct connection, usually without the need to submit any paper documents. Tax preparation software with e-filing capabilities includes stand-alone programs or websites. Tax professionals use tax preparation software from major software vendors for commercial use. Of the 139.3 million US returns filed in 2007, 79.98 million (or about 57.4 percent) were filed electronically. In 2010, a total of 129.3 million US returns were filed, and 93.4 million were filed electronically: in three years the percentage of returns filed electronically increased to 72.3 percent of total returns. In 2018, 89% of tax returns were filed electronically. Learn more at https://en.wikipedia.org/wiki/IRS_e-file.
What is an Enrolled Agent?
In the United States of America, an Enrolled Agent (or EA) is
a tax advisor who is a federally authorized tax practitioner
empowered by the U.S. Department of the Treasury. Enrolled
Agents represent taxpayers before the Internal Revenue Service
(IRS) for tax issues that include audits, collections, and appeals.
Enrolled Agent status is the highest credential awarded by the
IRS.
The EA credential is recognized across all 50 U.S.
states. Attorneys and certified public accountants (CPAs) are
licensed on a state by state basis and are also empowered by
the Department of the Treasury to represent taxpayers before
the IRS. According to the National Association of Enrolled
Agents, there are approximately 53,000 practicing EAs in the
United States.
Learn more at https://en.wikipedia.org/wiki/Enrolled_agent