An Enrolled Agent (EA) 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 of the Internal Revenue Service for audits, collections, and appeals.
What does the term “Enrolled Agent” mean?
“Enrolled” means to be licensed to practice by the federal government, and “Agent” means authorized to appear in the place of the taxpayer at the IRS. Only Enrolled Agents, attorneys, and CPAs may represent taxpayers before the IRS. The Enrolled Agent profession dates back to 1884 when, after questionable claims had been presented for Civil War losses, Congress acted to regulate persons who represented citizens in their dealings with the U.S. Treasury Department.
How does one become an Enrolled Agent?
The license is earned in one of two ways, by passing a comprehensive examination that covers all aspects of the tax code or by having worked at the IRS for five years in a position that regularly interpreted and applied the tax code and its regulations. All candidates are subjected to a rigorous background check conducted by the IRS.
How can Enrolled Agent help me?
Enrolled Agents advise, represent, and prepare tax returns for individuals, partnerships, corporations, estates, trusts, and any entities with tax-reporting requirements. Enrolled Agents’ expertise in the continually changing field of taxation enables them to effectively represent taxpayers audited by the IRS.
Loeffler Financial Group has a team of Tax Advisors, CPA’s and EA’s to help assist with your taxes each year. Our team of experts stays up-to-date on all the tax laws and changes for the upcoming tax season.
Schedule your tax return appointment online here, or call our office at 717-393-7366!
To read more about our tax office and tax advisors click here.
The importance of a CPA
Life is often viewed as a series of stages – childhood, graduation, parenthood, and retirement, to name a few. Like the points on a clock, time moves us from one stage to the next. No matter what “time” it is in your life cycle, you probably share a common worry: money. Managing money for today is one thing; making decisions to ensure adequate funds for the next stage is quite another.
The CPA commitment. As trusted advisors, CPAs across the country have made a commitment to increase financial literacy. How? By volunteering to educate the public about financial issues and the decisions that must be made at every stage of life. Americans are faced with significant financial concerns, but often have insufficient financial literacy. Bright and even highly educated people sometimes have trouble speaking the language of money, often to their economic detriment.
To combat this trend, the CPA profession has united around a cause to educate Americans, rich and poor, young and old, on how to better handle their finances. With the life cycle “clock” as a model, CPAs have taken a full, 360-degree view of the challenges Americans face. For each milestone, the profession has solid, practical advice to share. You might say CPAs are once again emphasizing the term “public” in their title.
Call on us. Which brings us to our firm, Loeffler Financial Group. We, too, have accepted the call to educate our community. Our team of experts would be pleased to speak to your organization about life’s financial challenges. We can also speak to students or provide classrooms with timely, interesting material on money and financial issues.
If you would like to find out more about the accounting profession’s drive to improve financial literacy, give us a call. Life’s financial clock is ticking. Let us help you before the alarm goes off. Call Loeffler Financial Group today at 717-393-7366!
It’s that time of year again. TAX SEASON.
Loeffler Financial Group is celebrating their 20th Tax Season this year! That’s right 20 years! What first started out in Craig Loeffler’s living room, has now become a successful full service accounting, wealth management and tax preparation!
TAX PREPARER.
Many individuals and small businesses question if they should do their own taxes or seek a tax accountant. You can certainly do your own taxes, however, 2020 brought a lot of change, and experts said a preparer is the way to go.
If someone, for example, got laid off, and they went and started their own business, there are deductions they may not be aware of. Software is good, but you have to know what to put in and where to put things.
Loeffler Financial has experienced tax preparers that take continual education courses to stay up-to-date with the latest tax laws and changes.
TAXES DURING A PANDEMIC.
2020 was a challenging year with the COVID-19 pandemic. Our firm keeps it easy and simple to file your taxes on time, YOUR way. We offer in person appointments, virtual zoom appointments, and our streamlined drop-off services that we have offered for numerous years! We have proper safety protocol to keep our clients, and staff as healthy and safe as possible. We sanitize and wipe down in between each tax appointment. We also provide glass shields and work at a 50% capacity which includes staff and clients in the building.
TAXPAYER CHECKLISTS AND FORM DOCUMENTS.
To help make things easier for you this tax season we have provided our Taxpayer Checklist, along with our Engagement Letter, so you can easily download these forms and fill them out before your scheduled appointment, and/or before you drop off your tax files. This also helps to make sure you have included all necessary documents to keep your tax return moving without any delays!
RENTAL PROPERTIES AND/OR SMALL BUSINESS TAX DOCUMENTS.
Have rental properties or small businesses? Those forms are included below for you as well!
WORK SMARTER, NOT HARDER.
This tax season we have you ready and prepared to make your tax filing smooth and easy!
