Will Accredited Council of Accountancy for Taxation (ACAT) credential holders have to pass the IRS return preparer examination and complete continuing professional education to prepare returns?
Yes, ACAT credential holders will need to pass the IRS exam unless they are also attorneys, certified public accountants, or enrolled agents. As for continuing professional education, they will be subject to the new requirements unless they are also attorneys, CPAs, enrolled agents, enrolled actuaries or enrolled retirement plan agents. Only attorneys, certified public accountants and enrolled agents will be exempt from testing. Attorneys, certified public accountants, enrolled agents, enrolled actuaries and enrolled retirement plan agents are exempt from the return preparer continuing education requirements.
