TaxMama’s® EA Exam Newsletter – Issue 17, 2009

News from TaxMama’s® EA Exam Course

This morning, TaxMama’s® mailbox contained a request from a seasoned tax professional whose client is facing an audit. He asked me to help him find an Enrolled Agent in a town about 20 miles away from him. My first reaction was to ask him why he doesn’t just handle the audit himself? He can certainly interview the client by phone and have her send the signed documents and files to him.

Aaaahhh….He’s not an enrolled agent! So handling this audit will cost the client double – for his time to work with the EA who actually does the audit – and the EA’s fees. Or he will not get paid for his time, just to accommodate the client. What a lose-lose situation! If this fellow were an EA, he could handle the audit himself. In fact, with his years of experience, and all the work he’s done with the client’s business, HE is the person best qualified to handle this audit. Unfortunately, he can’t represent his own client, without her coming to the audit with him – and she can’t afford to pay him AND take time off from work. .

Don’t you think it’s time you became and EA?

The Exam may be tough. But, it’s not terrifying. Do you want to pass quickly? Join us.

Have you passed Part I? Only need Part II and Part III? Here is a special link that will allow you to register only for Parts II and III for only $675 (savings of $160 off the regular price of $835 for the two parts.)

IRS or other Important News

Remember, the fee per exam will rise to $101.00 as of January 4, 2010.

Congress will be passing the Health Care Act before year-end. That will be on next year’s exam.

Latest news from IRS’s Statistics of Information Bulletin:

  • Partnership returns: The number of partnerships increased 5 percent between tax years 2006 and 2007, from more than 2.9 million to more than 3.0 million.The number of partners increased 11 percent, from 16.7 million for 2006 to 18.5 million for 2007. Total partnership net income (loss) increased by 3 percent, from $666.7 billion for 2006 to $683.4 billion for 2007.
  • Partnership and sole proprietorship information by state: California, Florida, New York and Texas, with a combined 33 percent of the nation’s population, together filed 32 percent of all partnership returns for tax year 2007. While Texas and New York together account for 14 percent of the nation’s population, the two states – Texas with gross receipts of $783.8 billion and New York with gross receipts of $700.1 billion – accounted for 35 percent of partnership gross receipts in the United States. California, Florida, New York and Texas also accounted for 35 percent of all sole proprietorship returns filed for 2007.

You should be handling these returns.

Self-Study Course – Any Time

Remember, this year’s exam window is open until February 28, 2010. You still have time to pass at least two parts of the exam. Perhaps all three! But, time is getting short. If you want to pass the EA Exam, start now!

The Self Study course is a great way to learn at your own pace, on your schedule. You are welcome to study alone or to find a Study Buddy in TaxMama’s® classes. You have access to all AUDIO and VISUAL materials online from your office, your home, the beach or the International space station – anywhere your laptop, mp3 player, iPhone or Blackberry will take you. 

In fact, who knows, you may even be able to upload your class materials to your Amazon Kindle.

You can register at any time but why not do it now and get started on your way to a new, recession proof career – Register here.

Until next time,



Eva Rosenberg – Your TaxMama®

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