Joseph P. Vecchio Jr., CPA

      &  Associates, Inc. 

Frequently Asked Questions

  • What is a Certified Public Accountant (CPA)?

Certified Public Accountant (CPA) is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met the additional state education and experience requirements for certification as a CPA. In most states, only CPAs who are licensed are able to provide to the public attestation (including auditing) opinions on financial statements.

CPAs function as independent auditors and act as advisors to individuals, businesses, financial institutions, nonprofit organizations, and government agencies on a wide range of finance and tax-related matters. 

To qualify for certification and a state license, an individual generally must:

-Have a college degree or its equivalent
-Pass the rigorous uniform CPA Examination
-Meet certain experience or postgraduate study requirements
-Meet annual continuing education requirements
-Adhere to certain ethical standards and codes of professional conduct established by government bodies and peer organizations

  • What type of service does a CPA offer?

The CPA plays an important role in business and the economy. Possessing technical knowledge and skills, the CPA is trained to apply sound judgement in business situations, helping people and organizations evaluate the use of economic resources. Today's CPA provides a wide range of services to various sectors including, but not limited to, the business and corporate industry and government and non profit organizations, playing many roles such as:

-Auditor/Accountant
-Management Consultant-Personal Financial Representative
-Tax Advisor/Tax Preparer
-Technology Consultant

  • What is an Enrolled Agent (E.A) ?


An Enrolled Agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by passing a three-part comprehensive IRS test covering individual and business tax returns.  So stringent is this examination, that only about one third of those who take it are able to pass. In fact, Enrolled Agents account for less than 10% of all individuals currently practicing in the field of taxation. Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years.  This education is narrowly confined to subjects related to taxation in order to maximize an Enrolled Agent's proficiency. The education is closely monitored by the U.S. Department of the Treasury.


                Enrolled Agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights. This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before.   Only Enrolled Agents are required to demonstrate to the Internal Revenue Service their competence in matters of taxation before they may represent a taxpayer before the IRS. Unlike attorneys and CPAs, who may or may not choose to specialize in taxes, all EAs specialize in matters of taxation. EAs are also the only taxpayer representatives who receive their right to practice from the United States government. (CPAs and attorneys are licensed by the states.)         

 


For a full list of the services our firm provides, check out our services page.

  • Does this firm provide year-round service?

We are here for you twelve months a year, not just during tax season. Whether you have a simple tax question, need advice on the tax implications of a business decision, or want to clarify on a government notice, feel free to give us a call.


  • Will my information be kept confidential?

We maintain a policy of the strictest confidence concerning our clients affairs. It's our pledge of confidentiality. You can rest assured that we will not provide any information unless full authorization by you is granted. No one will know or learn of your business affairs or tax status. You can trust us