Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: rosewine Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121455  
Subject: Re: Question for Oregon preparers Date: 8/7/2009 3:59 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
You will find more than you ever wanted to know about Oregon licensing here: http://www.oregon.gov/OTPB/index.shtml

There's nothing specific in the licensing exams that covers corporate/partnership/estate/etc. tax returns.

To sit for the exam to be a licensed tax preparer a candidate has to take a pre-license course and pass a state board exam. The basic course is 80 hours (I think) and starts from the assumption that you don't know anything about taxes and teachs you to pass the test. As a LTP you have to work under the supervision of a Licensed Tax Consultant, Attorney or CPA.

After two tax seasons and some number of hours experience doing taxes you can sit for the exam to become a Licensed Tax Consultant. That exam is more advanced than the LTP exam but still doesn't cover corporate, etc. taxes. It does include a lot about depreciation and disposition of assets. As a LTC you can be self employed.

Oregon also requires all licensed tax preparers or consultants to complete 30 hours of continuing education classes each year to renew their license.

I see there's a report on a GAO study on the web page but haven't read it. I'm making the assumption that I'll be grandfathered into any federal licensing requirement based on my current Oregon license.

That said, at this point, I have passed 2 of the 3 SEE exams to be an EA. I expect to take the 3rd one on business taxation in a couple weeks - for the second time. Didn't pass that one the first time.

Hope this helps.

Rose
Licensed Tax Consultant
Working for a tax prep service with no interest in being self employed.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Saul's Investing Discussions

Why Did I Buy a Bunch of PFIE Today?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement