The EA exam is an in-depth exam that will require you to diligently study for ahead of time. There are three parts of the exam going over representation practices and procedures. While the level of difficulty varies between individuals, the more time you spend preparing yourself, the easier the process will be.
4 Tips To Pass The EA Exam
- Take A Exam Prep Course Specifically for the Enrolled Agent Exam
The Special Enrollment Exam is a 3 part tax-specific exam created by the IRS. Many individuals with a background in accounting may make the mistake of not properly preparing for the exam. It is important to take note that tax accounting and financial accounting are two different fields. You will want to take an in-depth approach to preparing for this exam and become familiar with the types of exam questions that will be covered.
An EA review course can help you dive deep into tax topics and become more familiar with the tax code, preparing you to pass your exam. There are many different review courses offered online for prospective EAs. Do your research to ensure you are working with a company that offers a quality exam course.
- Stay Up To Date
The tax law and IRS publications are constantly evolving. Some changes are small adjustments, while other may have a massive impact on even the most basic of tax matters. These changes will be reflected on the Enrolled Agent Exam, making it critical that you are familiar with the newest updates. Make sure you go with a review course that updates with the Enrolled Agent Exam and stay on top of any changes mentioned at www.irs.gov
- Remember Basic Tax Formulas
Much like the importance of knowing the fundamentals of tax law, you will want to memorize the basic and most frequently used tax formulas. When you are an Enrolled Agent, you will have to calculate a variety of basic tax numbers, from Adjusted Gross Income for individuals to deductions for corporations. Memorizing these formats of basic tax calculations for individuals and business entities will be important for your exam and also for your career.
- Familiarize Yourself With Testing Format
Exam day can be very stressful, even for the most prepared individuals. If you have never taken an exam at a Prometric site, you may add additional anxiety to your big day. These testing centers take security measures to ensure there is no cheating during the exam. Some of these security measure include fingerprinting, ID scans, and personal scans.
These formalities can lead to additional pressure when you are not expecting it. To minimize the stress you are going to feel on the day of the exam, invest some time in the “What To Expect” section of Prometric’s site before test day. This page will provide an in-depth view of the testing experience and will help you feel more prepared going into the test center for your exam.
Why Join TxSEA?
TxSEA makes it easy for enrolled agents in Texas to stay on top of the credits they need to maintain their licensing, as well as provides an opportunity for networking with other EAs in their local area. This can provide helpful information and leads to tax professionals working as enrolled agents today.