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Yeah the CPA takes forever to get your scores back. That said, I think for most people the hardest part is simply the time involved with studying while working full time.
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Oct 30, 2010 05:53
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The end result of the PTIN program is that the preparers who suck will take peoples' money and have them sign the return as self-prepared. Realistically, any liability is on the taxpayer as it is so this won't even be a huge step for them. Reputable firms will just increase their fees to account for their increased costs.
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Dec 3, 2010 03:06
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If you look at that press release and scroll down to 'capital and liquidity management' they have some more relevant information. The net loss was created by a 2.0 billion goodwill write-off (not a cash expense). They have almost 69 billion in retained earnings on their balance sheet according to Google. So to answer your question, they have plenty of cash and retained earnings to issue the dividend (depending on whether or not you ask the bank or the Feds, obviously.)
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Mar 24, 2011 00:10
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Absentlife posted:Anyone here studied for and passed the CPA exam while not working? I don't have much experience in the field out of school and it's been terribly difficult even landing an interview. Passing the exam is a big deal to many potential employers. Get it done as soon as possible. You should consider yourself lucky that you don't have to work full-time while studying.
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Oct 20, 2011 23:11
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Mush Mushi posted:I've been curious about how easy it would be to move from big 4 tax with CPA/MST to the IRS. I really don't hear about people taking this path very often. Does it ever happen? Yes, it happens. When I came on board at the IRS there were quite a few people from Big 4 or similar backgrounds. Most of them got tired of the hours. This is anecdotal, but I know a guy at my office who received a job offer from a Big 4 as a senior associate for 52K. He was already making 57K at the IRS working 40 hours a week so needless to say he didn't take the job. With a CPA, MST and experience you may be able to come in as a grade 11. I know some CPAs with non-big 4 experience who were hired as grade 12/13s off the bat but that's pretty rare and it would be in an area like Large Business and International versus Small Business/Self-Employed where most new hires seem to start.
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Apr 18, 2012 23:15
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hellboundburrito posted:It obviously depends on your location, but $52k as an experienced hire at a Big 4 (especially at the senior level) seems extremely low, so I don't blame him for passing. But I'm curious about your thoughts on advancement and the salaries that advancement at a Big 4 would have. If you stay in the IRS for 7-8 years, what's the expected compensation? My general thought, and I may be wrong, is that while you're averaging 40-50 hours/week, there isn't a lot whole of room for advancement or compensation increases. Is the draw to an agency like the IRS more a function of decent pay with less hours and decent benefits than it is the potential for advancement? Yes, as mentioned the CID carries guns and works lots of narcotics/money laundering etc cases. They get first pick of the choice cases involving high dollar amounts. It is difficult to get into the program, partly because of the health requirements (although seeing some of the people in that division I question how stringent they actually are) and partly because of the budget situation and the fact that they typically hire from the revenue agent positions so there are lots of things at play to get there. As a bonus, CID gets to retire in 20 years and their pensions are higher than non-criminal agents. They also get paid 25% more but have to work 25% more as they work 50 hours a week versus 40, although I've been told they get several of those hours to work out and stay in shape. It wouldn't be a bad gig if you could land it. To answer your question about compensation I don't think you can practically reach above a GS-13 while working as a revenue agent. Not saying that there aren't GS-14 agents out there somewhere, particularly as audit team leaders in Large Business & International, but they are exceedingly rare. Most career agents I've known seem to accept that a grade 13 is the highest they will reach. Actual compensation amounts vary according to your geographical location but you can look them up on OPM.gov. In my area, a grade 13 starts off at about $82,000 and maxes out at $106,000 after 10 steps. To get to step 10 takes about 19 years or something so there aren't an awful lot of people making that much. If I had to guess I'd say most experienced revenue agents make mid-90s. For reference, a fast career progression may take someone to the GS-13 step 1 level in 5-7 years if they are all-stars and the budget allows. I'm sure by the time you got to that level in the private sector you'd be at a manager level and clearing low six figures but I don't really have any confirmation of that. Granted, $82,000+ is a lot of money when you only work 40 hours a week and get 6-8 hours paid leave every 2 week pay period. Not to mention the defined benefit portion of the pension and TSP matching etc. You certainly won't be making as much as a partner at a big 3 or a local/regional firm but you can live comfortably. If you wanted to aim sky-high and become an executive, OPM.gov indicates you could make between 155,000 and 199,000 but again there probably aren't very many people actually making that - pulling this out of my rear end but only a few hundred people out of the ~95,000 member organization. If you want to start collecting Ferraris, you should stick to the big 4 partnership path.
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Jun 23, 2012 17:43
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NC has no expiration date for test scores. Passed the test almost 4 years ago and have yet to get my license because 1) none of my bosses, of which I am now on number 5, have been CPA's 2) I need 9 more credit hours and 3) even if I had my license I wouldn't get any benefit from it at my current job. NC requires 150 credit hours with specific classes entailed, as well as 1 year direct supervision under a licensed CPA or 4 years general accounting experience. I'd be hosed if I had to re-take the test because I have used almost none of the material in the last few years.
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Sep 2, 2013 02:25
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Mandalay posted:This FUTA Credit Reduction State thing is bullshit. I have to pay additional FUTA tax in 2014 retroactive to Jan 1 2013 because the state couldn't pay its UI benefits? I never thought about budgeting for this.. What state?
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Jan 29, 2014 15:27
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I'm trying to imagine how an audit trail would work through this process and it's making my head hurt
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Feb 21, 2014 04:42
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chupacabraTERROR posted:I just switched from big4 tax to investment banking and doubled my salary. If you all are anything like my coworkers and absolutely hate your job and want to change careers, there are lots of good opportunities out there. This isn't 2009 where you're just happy to have a job, go out and find a better one What kind of international tax work? Where did you come across the job?
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Apr 28, 2014 01:15
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You could just audit taxes and enjoy the best* of both worlds  *the worst, and guaranteed no one is every happy to hear from you 
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May 23, 2014 04:08
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I'm in a similar situation and currently taking my last 9 hours at the local community college to get me to 150. It's the last thing I need to do to get my CPA, passed the test almost 5 years ago. Good thing test scores don't expire in my state 
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Aug 20, 2014 01:00
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nm posted:Hope he likes living in vallejo. To be fair this only applies if you get a job at a big law firm making like $160K and grind out the hours accordingly. Most of my lawyer friends, save for the 1 who did get a big law job and has like $200K in debt, make about what I do or less as a CPA with about 6 years of federal government experience. That said, Big 4 looks great on a resume and once you get to the manager level you'll likely be making 6 figures, with senior manager and higher closer to 200 than 100 after bonus from what I have seen. Consider the first 3-4 years of a Big 4 career like law school only instead they pay you and it makes more sense.
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Nov 12, 2015 14:22
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Moneyball posted:Has anyone here actually gone the community college route to get their 150 credit hours, or did everyone go for an MBA or masters in something else? Do you have a job in mind that would make $60K in debt worth it? Because I'm having a hard time thinking of one for a newly minted CPA. I was short 9 hours and just took them at a community college for about $700. It may also depend on your state but in NC I already had all my accounting specific requirements and just needed the hours. It sounds like that's your case so my advice would be to keep it cheap and easy and try to get work experience vs an expensive degree.
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Nov 24, 2015 02:27
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Of those 2 programs the networking one seems more useful based on jobs I've seen. The applications one would be nice for the Visual Basic and access stuff since if you can do fancy poo poo in excel your basically a god at a lot of places. But, you can learn that on your own time. You have the right idea with the CISM or CISA I think. I would be wary about paying that much for an MBA especially one not at a top school where you can likely get a job in finance or another high paying field. Like you said, get reimbursed for it or use it to segue into another field/employer down the road.
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Nov 24, 2015 03:11
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Hellblazer187 posted:So, I forgot I made this thread 100 years ago. I'm a CPA now as of like two weeks ago. Congrats, as a dual license holder are you planning on doing anything interesting? Sounds like you are pretty much focused on the accounting side. By interesting I mean 'become a badass white collar criminal tax attorney' or something
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Dec 3, 2015 22:30
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Missing Donut posted:Going from what I read at Going Concern, these areas are more profitable than bog standard tax and auditing services. Because of this, they offer better salaries and better hours without the same pressures of eating time from unrealistic budgets. By all accounts, they seem like a great place to start a career. Yeah I would so much rather work in consulting versus regular audit or tax. Untagged posted:What's life like for non-accountants at THE BIG 4? One of them has an office nearby and they are apparently heavily recruiting for corporate consulting in a field I'm somewhat familiar with ie. fraud/law enforcement/investigations etc. The bennies and salary are pretty good. Although it is a 60%-80% travel required job. Are the non tax jobs just as potentially soul crushing? My sister in law was a CPA for another big firm and loved the travel, but hated the hours and lack of a work life balance which forced her to quit. It's tempting, but there's not much info for life in these types of positions. Those kinds of jobs can be pretty great and have huge promotion/career development potential. What's your background? Is this an AML or similar position? I've got some friends who have done very well in that field.
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Dec 30, 2015 15:29
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Covok posted:Thinking of going for an EA. Heard it's easy if you regularly prepare taxes and my firm will pay for it. Been lazy about the CPA and I really want a certification next to my name. It helps build client trust. It's more tax specific than a CPA and will let you represent clients in front of IRS Appeals but a CPA is still better career wise and has better recognition
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Oct 21, 2018 00:26
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Over 400 IRS revenue agent jobs opened today, they journey at the grade 12 level now too.
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Oct 30, 2018 00:46
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Master Tax Guide is probably the best solution for a quick reference
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Nov 21, 2018 18:23
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I use CPEcredit.com because for $170 I can do my state ethics for 1 year and then a year of unlimited, which means I can do 2 calendar years worth of CPE before having to buy it again. I only do the self-study stuff though
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Nov 24, 2018 12:20
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Lord of Garbagemen posted:199a is a hot garbage fire. Job security
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Mar 6, 2019 13:24
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There's a bunch of grade 13 Internal Revenue Agent positions open right now for the IRS's Large Business and International division. One of the few jobs that will hire off the street at that grade level (minimum starting salary $87,252 or more depending on area). If you have business tax experience and are tired of busy season, check it out.
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Mar 11, 2019 19:19
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Mush Mushi posted:What would you say the odds are for a qualified external candidate (non-veteran) for one of these jobs? I’d prefer not to relocate, so realistically I’m competing for a handful of spots that internals also want. I may also be overestimating the number of people who will even apply! Depends on qualifications, if you have a lot of relevant corporate and/or international experience you could be more qualified than some of the internal hires. I think if you get hired with SB/SE you can take the LB&I job later. IIRC some people did this around 2010 since the SB/SE job starts around grade 7 or 9 and the LB&I is 13, they applied as an external hire and got it. In this budget environment it takes a long time to get to a 13 in SB/SE so the LB&I job is much more attractive IMO. I'd just apply to anything you think you might be interested in and see what happens, if you are lucky enough to get 2 offers hopefully they will work with you on the timeline.
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Mar 14, 2019 13:52
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SiGmA_X posted:*7 month* delay?!?! That's pretty quick for federal hiring. Revenue Agent is a good job, I spent about 7 years as one out of college. You will learn a lot and get exposure to issues you may not see in public. It can definitely be frustrating but I know people who came from Big 4 and liked it a lot better. It's one of the most professional jobs at the IRS and once finished with training you will be in charge of your own schedule to work how you see fit so there is a lot of flexibility.
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May 4, 2019 13:15
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black.lion posted:As a firm partner who cannot find accountants of any xp level to hire: The jobs are out there friends!! You'll find your spot!!! KEEP GOING I'm a CPA with almost 15 years of IRS experience at various mid-to high level positions. My current total compensation is close to $200K. Earlier this year I was testing the waters after a friend of mine in public went from a manager role making $120K to $350K a year in her specialty tax area at a non-public firm. The only call I've gotten was for a contract job with no benefits paying $22 an hour. There are jobs out there but most of them aren't going to pay enough to hire me away, and the hiring system itself is incredibly broken.
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Nov 5, 2023 05:31
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