Income Tax Course?

Question

I'd really like to study to become a professional tax preparer. I've already taken the first step and obtained the PTIN. However, in order to stay competent, is there truly any kind of good tax prep course out there? And affordable? I've heard of HR Block's of course, but does the IRS itself offer anything? Or anywhere else? Or for the Enrolled Agents out there, what first steps did you guys take? I've already got a BA, not in accounting though unfortunately. Is Certified Bookkeeper something worth looking into as well? Any help is certainly appreciated!

Answer 1

No, the IRS does not offer any income tax law training to non employees.  H and R Block is a good course.  A little expensive.  You can get the same information from an Income Tax class at your local Community College.   I have not looked but I bet there are online classes as well that are cheaper than H and R.

The IRS is hiring and with you BA you qualify for an auditing position either TCO or RA, Tax Compliance Officer or Revenue Agent.  I do know the TCOs get 17 weeks for 40 hours per week tax law training  for free and you get paid to to go to the class.

Hope this helps.

Answer 2

I never came across the term Certified Bookkeeper except from the outfit that issues the designation. I was never impressed.

Your PTIN is meaningless.  It is just an identifier so you don't have to put your Social Security Number on every return you do.

The H&R Block class qualifies you for a $10 per hour seasonal job if you are at the top of your class.  Better to study had to become an Enrolled Agent and represent people.

Answer 3

H & R Block's basic class is good, but I think they changed it so that if you take the class you sign a contract stating that you will not prepare taxes for anyone but Block.

Working for Block is good experience because it allows you to gain exprience and have a source of people to ask questions if you get stuck with a situation you are not familiar with.

After the basic class is one called Everyone's Return which expands on what was learned in Basic. After that there are individual seminars lasting anywhere from 1 three hour session to one night a week for ten weeks. Topics include: Investment Income, IRA's, Retirement Income, Rental Income, Estate Taxation, Estate & Trust Income Tax, Partnerships, Corporations, Sole Proprietorships, Hobby vs. Business, Depreciation. The list goes on. They even have an enrolled agent preparation course.

The cost of the basic return depends on the district. It can be between $99 (the cost of the books) to $300. If you work for block, the courses after the basic are just $20. If you become an enrolled agent or an instructor, my district doesn't charge you anything.

I have worked for Block for 16 years. I have taken many of the classes and became an enrolled agent. You do start at, I think, minimum wage, but that is a draw against commission. Your compensation can vary from year to year depending on what you made in the prior year.