American CPA qualification

[ernieB]

Thats the reason my lawyer is also a cpa

[ragman]

My CPA is also an attorney.  Because he is, the IRS can not show up at his office and demand my tax folder or any other information about me. This has happened to friends of mine and if you are not an attorney you hand over all that you have. It goes for granted that of course he can not testify because he is my attorney.  Now I try very hard to obey the law and pay all the taxes that I owe but to be honest the tax code is so dam complicated that in years when I had certain types of activity, Christ I just don't know and I have to depend on some one who does.  So did Willie Nelson and others, who ended up in deep shit.....    I've been simplifying my life financially for several  years and there may come a day when I would need less expensive tax help but that will take a few more years.  Until then I will pay up and sleep at night.  To be honest it is more to ward off the IRS agent who wakes up one morning with a hair across his ass.  He looks at my file and if there isn't really something whacking him along side the head, which there won't, he stamps it or what ever he does and goes on to the next.  He knows that he will not be talking to a dumb shit like me if there is a problem.

[martinbsmithjr]

Well said, brother and Amen! I myself am in the same situation and have had my share of run ins with the IRS in spite of having my returns prepared each year by a big 6 (or 8 or 4 or however many there were that year) accounting firm. I have never taken any deduction to which I was not clearly entitled but it did not stop them garnishing my school teacher wife's pay from a small Catholic school and it didn't stop them coming to my office and showing me their badges.

I only wish for the day when everybody can pay simple percentage of their income on a post card size form and we can get completely away from these complicated arrangements which are no more than vote buying or campaign contribution seeking actions from our elected representative. Better from my perspective would be a national sales tax of a fixed percentage and eliminate all income and other taxes. This would reward savers and also have the beneficial impact of everyone having some skin in the game. That way they won't always vote for the democrats and RINOS who legally steal from the productive sector and use the proceeds to grow government and the number of slaves on the Federal plantation that will always vote for them.

I would however point out as to the use of lawyers. Lawyers still have to comply with subpoenas duces tecum for documents in their possession with the exception that they don't have to turn over their work papers. In other words there is protection by using a lawyer but it is not absolute even though he can't testify against you or use any information you have given him to your detriment unless you are involved in committing an ongoing crime in which case he must comply with any and all warrants and subpoenas.

Let's work toward eliminating the insane system we have and see if we can't get productive jobs for all those that are part of this corrupt system. I understand the central valley in California still has a lot of fruit and vegetables that need to be picked.

[2Aggies]

In the USA, the AICPA administers the uniform test twice a year on the exact same two days in all 50 states and US territories. The test is the same except for states that have additional requirements due to state income taxes or other factors. Those states administer a supplemental test.

Effective January 1, 2011 not just anyone can sign a return as a preparer. You have to file an on-line form to obtain a Preparer ID #. In many cases, persons already holding the # receive the exact same number. You pay, what I refer to as a bullshit tax, fee of $64. There are new requirements for continuing education credits going into effect in 2012 for even the registered preparer. Enrolled Agents are allowed to represent taxpayers in front of the IRS, registered preparers are not. Enrolled agents will begin submitting to testing in 2013, but not the same test administered to gain recognition as a CPA. Preparers must have a US address, easy to get around that.

It is a violation of AICPA regulations to hold yourself out as a: CPA, partner in a business or firm implying you are a CPA, Accountant, Accounting Officer or any other title implying your have met the standards of a public accountant. Basically, using the word or a variaton of the word accountant is a no-no. If you think the AICPA has no enforcement power just try one of the above and get caught. They'll issue you what is basically a cease and desist order and tie you up in legal crap forever.

What is important here is that the general public have trust and faith in anyone representing themselves as qualified CPA's or accountants. The test is a bitch and you must pass all 4 parts. I would hope other countries would not simply allow a US CPA to begin working there without proving qualifications and a thorough knowledge of the tax laws.

[peterbj7]

A useful post, as have been the other ones here.  I can of course hold myself out as a "qualified accountant" because I am, albeit not in the USA.  I would not call myself a CPA nor claim to know much about US legal/tax issues.  Since there are so many people in Belize requiring assistance from someone with that precise knowledge and experience I am trying to remedy that.  I am currently in Dallas, Texas and would like to progress this whilst here, but I believe I would have to be in Austin (where the Texas office of the AICPA is) to achieve much.  Possibly not even from there.  My colleague in my Belize business is what I believe is termed a "registered preparer" so currently I have to leave all that sort of work to him.  I don't know if he might be an "enrolled agent".  I know he is not a CPA.  In Britain we don't have these differing levels of accreditation;  any "Chartered Accountant" and some other lower level qualifications can prepare tax returns, represent clients in Court, etc.  And of course we have a single qualification route (one for England & Wales, one for Scotland, one for Ireland, but all almost identical), not one that is broken down by geographical area.

[2Aggies]

I am certain you can and will gain the knowledge you need to fairly assist folks in Belize with US tax issues. I have followed your posts long enough to see you are an intelligent individual. The US tax code is a rambling and confusing piece of legislation, however, it can be understood and interpreted with the assistance of the internet. Keeping current is key in maintaining a strong working knowledge of the laws. The bastards in office must think we are idiots and they knee-jerk new rules often which is why continuing education requirements are a must. Some of these cookie cutter preparer firms (H&R, Jackson-Hewitt, etc) start running ads in Nov. claiming to "train you to be a tax preparer" which your qualifications are basically a pulse. If you have a high school diploma (or the equivalent) they train you to fill in the blanks on their software and punch the complete button. Slightly above the working monkey level.
I wish I was in a position to pack it up and move to SP, hang out a shingle and do some tax work (enough to pay for beer and diving), just not in the cards for now. I am envious of Deadserious. He is living the dream. I still have the time and am working towards it. I am happy for him.
Good luck learning "The Code". Just remember to keep up with all the damn changes they make.

[peterbj7]

Thanks 2Ag, I've been pursuing it here in Dallas and think I have made real progress.  I see tax books here are no cheaper than they are in Britain.