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Cynthia Lekey, EA, ABA
After graduating from the University of California with a Bachelor of
Arts in Mathematics and Accounting, Cynthia continued her
education in the MBA program at Notre Dame with extensive study in the
area of Taxation. With over 18 years combined, professional experience
with various smaller-local, mid-sized regional and large-international
public accounting organizations and financial institutions, her
expertise is in the area of taxation as an Enrolled Agent (EA) and
accounting as an Accredited Business Accountant (ABA).
What is an A.B.A.?
An Accredited Business Accountant (A.B.A.) is an individual who
has been tested in all areas of accounting, similar to the CPA exam and
specialize in accounting services for individuals and small to medium
size businesses. The comprehensive examination for accreditation in
accountancy, administrated by the National Society of Accountants,
covers all areas of financial accounting and financial statement
preparation, business consulting services, taxation, business law,
ethics and professional conduct.
OK. So you’ve decided to skip
the sharp pencil routine this year and let someone else prepare your
taxes. Who should it be? Aunt Millie? An EA? A CPA? Or do you need a
lawyer to do it? It depends on the complexity of your situation and on
the qualifications of the individual who will be doing the work.
Who is qualified?
The first thing you should know is that the IRS does not certify tax
preparers. Anyone can do them as far as the U.S. Government is
concerned, although some states impose a licensing requirement. The only
federal regulation of tax preparers is a set of penalties that puts
preparers on the hook if they prepare returns that they know are wrong
or that they should know are wrong. |
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Enrolled Agents-
An Enrolled Agent is an individual who is licensed by the federal
government and specializes in taxation. Unlike attorneys and CPAs, EAs
are required to demonstrate to the IRS their competence in matters of
taxation so that they can represent taxpayers before all administrative
levels of the IRS. To obtain the credentials of an EA, one has to not
only pass an extensive exam covering all levels of income tax including
Individual, Corporate, Partnership, Estate & Gift Tax, but are required
to complete 72 hours of continuing professional education every three
years to maintain their status. Because of the difficulty in becoming an
Enrolled Agent, there are fewer than 35,000 active EAs in the United
States. Certified
Public Accountants- A CPA
is an individual who is certified by the state to act as a public
accountant based on a test and experience as a non-certified accountant.
Many CPAs don’t specialize in taxation and they may represent you before
the IRS. |
