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If you are here, I expect you already have concurred with your Enrolled Agent Certification, and now it is time to renew and maintain your license. So, how are you gonna manage all this?
Don't worry; it's way simple. Just follow the blog instructions to know the professional's secret to completing Continuing education before the deadline.
Here is the checklist you must have.
Here is a Quick tip for you. How to manage the Checklist requirement to stay compliant and never fail to meet the deadline.
Renew your PTIN annually. It is way simple: Based on the last digit of the SSN
Fill out the renewal Form on the IRS website📌 or
Fill out Form W-12📌 and mail it to the IRS PTIN Processing Center.
Pay a nominal PTIN fee of $19.75.
and you are good to go with your PTIN Renewal.
To Keep the license valid, Enrolled Agents (EAs) need to complete 72 hours of Continuing Education every three-year renewal Cycle, including 2 hours of Federal Tax Ethics annually. Additionally, EAs must obtain a minimum of 16 CE credits annually to maintain the license.
But If you are just getting your EA certification, your CE requirement will differ. IRS has classified EA's Continuing Education in a three-year cycle based on the last digit of their SSN to set renewal expiry.
The renewal period is from 1st November to 31st January. So, basically, you have to complete 72 CPE in 36 months (3 years), which stands out as 2 CE credits per month.
If you are a newly Certified EA, SSN ending with 0, 1, 2, or 3 in January, you will need to complete the full 72 hours. However, if you are certified 6 months later in July, you will require 60 hours CE [72 hours- (6 months x 2 CE)] only.
Similarly, make the monthly calculation in case of SSN 4, 5, 6, and 7, 8, 9, or No SSN. Divide your months accordingly, from January to December, and there you go.
Rely on the adequate resource for learning. Instead of jostling over, focus on the courses that can fit your interest in learning, are flexible to your schedule, and are eligible for CE.
Choose the right learning avenue, live webinars, on-demand courses, podcasts, and others that fit into your busy schedule.
Want a flexible learning platform where you can learn on your own time, feasibility, and convenience?
MY-CPE has it all: Live-webinar, self-study, text-based, podcast, and MY-CPE shorts to meet all your varied learning needs.
Avoid taking courses from providers non-authorized by the IRS. Course Format, Topics, and Quality may not meet IRS standards and may not get approved for CE. Actively manage to prevent these discrepancies and ensure IRS-Approved Courses only.
Instead of just taking any CE courses to meet a requirement before the deadline, your primary focus should be on improving your knowledge. Find the gaps in your technical knowledge and fill them with your continuing education to elevate your career.
Focus on the wide picture, and instead of just CE, choose the industry-relevant courses that can contribute towards your career development.
For instance, if you are an EA interested in Federal Tax related matters, you can enroll in a range of courses like:
IRS Status
Estate Planning
ESOP
E-Services
Annual Federal Tax Updates
Focus on earning multi-qualification credit, so when you finish one CE course, it counts for multiple qualifications. Upon compilation of the course, you get a dedicated credit certificate according to the qualification you uphold.
Assume if you are both an EA and a CPA. So, completing an EA CE tax course also satisfies the CPA CPE credit requirements. Following the approach, you streamline your qualification requirements, effectively saving time and money with maximum outcomes.
Keep your credits well-managed.
Organize essential course details in a single place.
Store Certificate or proof of credit evidence.
This way, you can effortlessly monitor your completed CE and track the remaining CE required.
Manually, you can maintain a tracking spreadsheet writing the course you completed, credit, provider, location, course title, field of study, and certificate link.
Forget manual labor, save your time, and focus on your studies only. Choose a MY-CPE that offers a live CE credit tracker to track your achievements.
Set a Milestone and thoroughly monitor the pending, completed credits and subject hours throughout the year instead of a last-minute rush.
Stuck in the middle of a time loop and unable to complete your CE before the deadline? You can choose a Package Course designed to complet your annual CE requirement.
Here MY-CPE has a specially curated Package Course to complete your goal and stay compliant with the deadline.
Now you are ready to go, But wait! Still the most important part is left.
The IRS might ask for proof of your continuing education hours at any time, and to claim, you'll need to gather and submit all your certificates or scanned evidence to them.
So, keep a Credit Vault where you can store all your credit records life long and access them whenever you need.
Well, no one else but MY-CPE has this feature for you to keep all your records safe lifelong that too free of cost.
Make a sticky note of the checklist and follow it strictly to complete your annual CE requirement. Stay updated about any changes and keep your knowledge current regarding changes in regulatory, subject area, and approved courses.
Adhering to the ethics of 6 hours, an Enrolled Agent must complete a total of 72 hours of IRS-Approved continuing education every three years cycle.
EAs must complete at least 16 hours of CE, including 2 hours of Federal Tax Ethics annually. This can be done at any point of time during the year, but before 31st December.
EAs are not allowed to carry forward their excess credit hour to the next enrollment cycle.
Simplifying the Credit Targates, you can break up your credit hours into three years of classes.
Jason Dinesen (LPA, EA) is an entrepreneur, tax expert, and CPE Presenter. Dinesen brings over 15 years of experience helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries. Dinesen is a regular CPE Presenter at myCPE. He has coached more than 200k+ accounting, taxes, and HR professionals on various topics of accounting, individual taxation, corporate taxation, and professional ethics. Jason has developed a strong following within the professional community for tax-related subjects. Dinesen is known for sharp tax interpretations, and he quickly brings his analysis of the latest tax updates and IRS guidance to the professional community.
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