Rising Need for Enrolled Agents in US Taxation in Indian Market: Career Trends in Recent Years

Currently, Enrolled Agents holds the highest credential in the field of US taxation and plays a major role in its flourishment. There has been a continuous growth in recruiting the EAs over the last 4–5 years with an average of 30–40%. According to the statistics, the number of Enrolled Agents employed in the US is nearly 64,490 and the employment growth within 2019–29 is 0.4% annually. It won’t be wrong to say that considering the past few years, the EAs getting employed in the firms located in India is higher than that of the US.

Do you know who the Enrolled Agents (EAs) are? What do they do? Get to know about the experts and the job opportunities they’re offered with. Read the article below.

Who are the Enrolled Agents?

Empowered by the U.S. Department of the Treasury to represent the taxpayers before the Internal Revenue Service (IRS) in tax related matters like planning, preparation, collections and appeals, Enrolled Agents (EAs) are the federally authorized tax practitioners having expertise in taxation.

• Eligibility: The minimum eligibility one candidate needs to earn the EA license is that he/she must be of 18 years of age.
• PTIN: Obtain a Preparer Tax Identification Number (PTIN) for registration.
• Requirements: Prospective students must qualify a 3-part EA exam which is officially known as the Special Enrollment Examination (SEE). Some former IRS employees with 5 years of taxation experience may apply to become an Enrolled Agent without taking the exam. CPAs and attorneys may serve as enrolled agents without taking the exam.
• Benefits: EAs are globally acclaimed tax experts. They gain extreme knowledge about regulatory measures regarding taxes, preparing and filing taxes, dealing with tax related issues. They’re the only authorized professionals to represent taxpayers before the IRS. Not only do they deal with individual clients, but they also work with different corporations or startups, in managing and filing their taxes.

Outlook for EAs in Recent & Upcoming Years:

As we know, the global accounting firms like Big4 (Deloitte, KPMG, EY, and PwC) and other notable MNCs are gradually setting up their offices or branches in India as well, the career scope of Indian EAs has heightened. The expansion of the Enrolled Agent industry depends on regulatory modifications and the demand for tax services. Regardless of how the yearly Budget is planned and the economy performs, there will always be a huge demand for assistance with tax preparation and IRS matters.

• Digitization: Taxation is a dynamic field, and staying updated with the latest trends is crucial for EAs. As the IRS adopts more digital tools, it’s essential for Enrolled Agents (EAs) to be technologically adept. This means they must be proficient in using digital platforms and software to effectively navigate and address tax-related issues in an increasingly digital environment.
• Job Prospects: The EA certification offers diverse job prospects, spanning roles in accounting firms, tax offices, law firms, corporations, local and state government agencies, and banks. The Big4 often recruit EAs for their ability to practice nationwide and handle taxes for international clients. Experienced EAs frequently venture into launching their own tax practices, enhancing career flexibility.
• Career Flexibility: In our increasingly virtual world, the rise of remote work has led many professionals to seek flexible career options. Although it’s specifically for U.S. tax, as mentioned earlier, the EAs are highly employed in the Indian branches of the global accounting firms. This makes the EA credential an excellent choice for tax advisors wanting to transition to remote work.

Related Blog: https://www.simandhareducation.com/blogs/enrolled-agent-ea-certification-salary-job-roles-and-industry-demand

Salary Package:

In India, the average salary of an Enrolled Agent is approximately 6–7 LPA as a fresher. In the USA, it’s around $71K and $133K. With years of practice, experience, and expertise in the field of taxation, they can gradually earn more.

Job Roles of an EA:

Enrolled Agents can work in different roles like:

• Tax Advisor
• Tax Analyst
• Tax Preparer
• Tax Manager/International Tax Manager
• Senior Associate
• Tax Specialist
• IRS Enrolled Agent

https://www.youtube.com/embed/sypNWFxGK6o?si=6QD6VqACjco87JGE

Conclusion:

The demand for Enrolled Agents is increasing day by day in the US taxation. Grab the opportunity to get paid high by earning the EA license. Enrol in Simandhar Education’s review course and follow the right direction in your journey to become an Enrolled Agent. In our extensive curriculum, you’ll get access to the live interactive classes, pre-recorded videos, top-notch study resources, mock tests, one-to-one mentorship from the lead instructor, Mr. Sripal Jain and all the highly qualified expert faculty. We even offer visa assistance and guide our enrolled students in getting placed in the top accounting firms. By registering to our job portal, Talent Placement by Simandhar, you can get ample career opportunities in accounting and taxation, according to your sole preferences. For further information and enquiries, contact us on 7780273388 or visit our official website.