An Enrolled Agent (EA) is an authorized person of the Internal Revenue Service (IRS) who has the privilege of representing taxpayers throughout the entire federal structure of the US government. This is the top certification from the IRS having wide and unlimited practice rights. Generally, there are two routes to enter in the EA path: either by passing a 3-part exam or through experience as a former IRS employee.
Becoming an Enrolled Agent (EA) involves several fees and costs. Here is a breakdown tailored for candidates in India:
1. Preparer Tax Identification Number (PTIN):
- Fee: $19.75
- Purpose: Required by IRS for tax professionals.
2. Special Enrolment Examination (SEE):
Structure: The SEE consists of three parts:
- Part 1: Individuals
- Part 2: Businesses
- Part 3: Representation, Practices, and Procedures
- Fee per Part: $259
- Total Exam Fees: $777 (for all three parts)-non-refundable to be paid prior to exam booking.
3. Enrollment to Practice Before the IRS:
- Fee: $140
- Purpose: After passing all exam parts, this fee is for official enrollment as an EA if you want to practise before the IRS
4. Study Materials and Review Courses:
- Estimated Cost: ₹35,000 to ₹50,000 (approximately $420 to $600)
- Purpose: Investing in quality study materials or review courses can enhance your chances of passing the exams on the first attempt.
5. Continuing Education (CE):
- Annual Cost: Approximately $200 to $300
- Purpose: A minimum of 72 hours of CE every three years is required to maintain the EA portfolio.
6. Miscellaneous Costs:
- Travel and Accommodation: If the nearest Prometric test center is not in your city, consider expenses for travel and lodging.
- Rescheduling Fees: Rescheduling an exam 5 to 29 days before the appointment incurs a $35 fee. Full exam fees to be paid again if rescheduling is done in less than five days.
Total Estimated Cost:
- Initial Costs (PTIN, Exam Fees): $796.50
- Study Cost: $420 to $600 / 35,000 INR to 50,000 INR
Total: Approximately 89,000 INR (If you pursue EA with Uplift Professionals)
Additional Considerations:
- Exchange Rates: Fluctuations can affect the total cost in INR.
- Retake Fees: Failing any exam part requires paying the respective fee again.
- Discounts: Some providers offer bundled courses or early registration discounts.
Uplift Professionals Provides Surgent Premier Pass Proprietary Study Materials with videos and till you pass access at a discounted rate of INR 35000 only. The Actual Price for the same is $699 equivalent to INR 59000/- and this has a pass rate of 96%.
By understanding and planning for these expenses, you can budget effectively for your journey to becoming an Enrolled Agent.
For Further Information/Assistance, Contact Us.