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An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant. Such professionals are granted certain responsibilities by statute, such as the ability to certify an organization's financial statements, and may be held liable for professional misconduct. Non-qualified accountants may be employed by a qualified accountant, or may work independently without statutory privileges and obligations.
Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world. It is generally equivalent to the title of chartered accountant in other English-speaking countries. In the United States, the CPA is a license to provide accounting services to the public. It is awarded by each of the 50 states for practice in that state. Additionally, almost every state has passed mobility laws to allow CPAs from other states to practice in their state. State licensing requirements vary, but the minimum standard requirements include passing the Uniform Certified Public Accountant Examination, 150 semester units of college education, and one year of accounting related experience.
Enrolled Agent is a tax advisor who is a federally authorized tax practitioner empowered by the U.S. Department of the Treasury. Enrolled Agents represent taxpayers before the Internal Revenue Service (IRS) for tax issues including audits, collections and appeals.
Tax preparation is the process of preparing tax returns, often income tax returns, often for a person other than the taxpayer, and generally for compensation. Tax preparation may be done by the taxpayer with or without the help of tax preparation software and online services. Tax preparation may also be done by a licensed professional such as an attorney, certified public accountant or enrolled agent, or by an unlicensed tax preparation business. Because United States income tax laws are considered to be complicated, many taxpayers seek outside assistance with taxes. The remainder of this article describes tax preparation by someone other than the taxpayer.
Internal Revenue Service (IRS) tax forms are forms used for taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service of the United States. They are used to report income, calculate taxes to be paid to the federal government, and disclose other information as required by the Internal Revenue Code (IRC). There are over 800 various forms and schedules. Other tax forms in the United States are filed with state and local governments.
NAEA Propertymark is a membership organisation for estate agents (called real estate brokers in the US). It is based in and covers the UK. It is the UK's leading professional body for estate agents. Its members practice across all aspects of property in the UK, including residential and commercial sales and letting, property management, business transfer, auctioneering and land.
CPA Practice Advisor is a technology and practice management resource for accounting and tax professionals. It is offered in online digital and print versions, with six print issues per year and 11 digital issues per year (Feb-Dec).
Circular 230 refers to Treasury Department Circular No. 230. This publication establishes the rules governing those who practice before the U.S. Internal Revenue Service (IRS), including attorneys, certified public accountants (CPAs) and enrolled agents (EAs).
The American Payroll Association (APA) is a professional association for individuals responsible for processing company payrolls. The Association conducts payroll training courses and seminars on a yearly basis and publishes a library of payroll resource texts and newsletters. The APA has approximately 21,000 members, 121 APA-affiliated local chapters, and registered lobbyists based in Washington, D.C.
The Canadian Bureau for International Education (CBIE) is an education service provider based in Ottawa, Ontario. CBIE's pan-Canadian membership comprises 150 colleges, institutes, universities, school boards and language schools, which enroll over 1.2 million students from coast to coast. Since 1966, CBIE has supported, designed and implemented over 100 projects worldwide, in 60 countries and 17 languages, valued at $2 billion. CBIE is a trusted partner of the Canadian government, playing a consultative role in the development of Canada's International education strategy. CBIE has been responsible for mobilizing over 35,000 students, professional and academic faculty through the management of Canadian and internationally sponsored scholarship programs. Since 2005, CBIE has organized over 80 training courses or study tours across Canada for international delegations of students, faculty, institution administrators, government officials and private investors. As Canada's knowledge hub in Canadian international education, CBIE publishes research and provides insight into the international education sector for thought-leaders, international education practitioners and policy-makers.
The Internal Revenue Service (IRS) is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury, and is under the immediate direction of the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States. The IRS is responsible for collecting taxes and administering the Internal Revenue Code, the main body of federal statutory tax law of the United States. The duties of the IRS include providing tax assistance to taxpayers and pursuing and resolving instances of erroneous or fraudulent tax filings. The IRS has also overseen various benefits programs, and enforces portions of the Affordable Care Act.
The IRS Return Preparer Initiative was an effort by the Internal Revenue Service (IRS) to regulate the tax return preparation industry in the United States. The purpose of the initiative is to improve taxpayer compliance and service by setting professional standards for and providing support to the tax preparation industry. Starting January 1, 2011 and, until the program was suspended in January 2013, the initiative required all paid federal tax return preparers to register with the IRS and to obtain an identification number, called a Preparer Tax Identification Number (PTIN). The multi-year phase-in effort called for certain paid tax return preparers to pass a competency test and to take annual continuing education courses. The ethics provisions found in Treasury Department's Circular 230 were extended to all paid tax return preparers. Preparers who have their PTINs, pass the test and complete education credits were to have a new designation: Registered Tax Return Preparer.
The National Society of Public Accountants (NSPA), later shortened to National Society of Accountants (NSA), is a professional association for tax and accounting professionals; NSA and its state affiliates represent more than 30,000 independent practitioners who provide accounting, tax, auditing, financial and estate planning, and management services to 19 million individuals and businesses. NSA's mission is to provide national leadership in the profession of accountancy and taxation through the advocacy of practice rights, and by the establishment and promotion of high standards in ethics, education, and professional excellence.
In the United States of America, an income tax audit is the examination of a business or individual tax return by the Internal Revenue Service (IRS) or state tax authority. The IRS and various state revenue departments use the terms audit, examination, review, and notice to describe various aspects of enforcement and administration of the tax laws.
Tax audit representation, also called audit defense, is a service in which a tax or legal professional stands in on behalf of a taxpayer during an Internal Revenue Service (IRS) or state income tax audit.
A Registered Tax Return Preparer was formerly a category of federal tax return preparers created by the U.S. Internal Revenue Service (IRS).
The Registered Tax Return Preparer Test was a test produced by the U.S. Internal Revenue Service (IRS). Until the program was suspended in January 2013, the IRS had implemented rules requiring that certain individuals who wanted to work as tax return preparers pass this test to demonstrate their ability to understand U.S. tax law, tax form preparation and ethical requirements. The competency test was part of an agency effort to better regulate the tax return preparation industry, to improve the accuracy of tax return preparation and to improve service to taxpayers. Candidates who passed the test, a tax compliance check, and met certain other requirements had a new designation: Registered Tax Return Preparer.
Shiv R. Jhawar is an Indian-American author, public speaker and entrepreneur. He is the author of the book Building a Noble World and has also published numerous political articles. He is the founder of Noble World Foundation, a non-profit organization whose stated mission is to promote the inner transformation of individuals through meditation. He is also outspoken about political reform and is known for his call to the United Nations to reform the UN Charter to allow for regional membership.
CPA Magazine is a tax and technology resource for accounting and tax professionals delivered in online digital, email and print versions. The headquarters of the magazine is in Southlake, Texas.
Form 1098-T, Tuition Statement, is an American IRS tax form filed by eligible education institutions to report payments received and payments due from the paying student. The institution has to report a form for every student that is currently enrolled and paying qualifying tuition and related expenses.
References
- ↑ ".About NAEA".
- ↑ "National Tax Practice Institute". NAEA. Archived from the original on November 11, 2013. Retrieved November 11, 2013.
- ↑ "Webinars | NAEA". Archived from the original on 2013-06-05.