austin3515 Posted November 9, 2015 Share Posted November 9, 2015 I assume it is only a matter of time now before they take my ERPA away... That's very disappointing. https://www.irs.gov/Retirement-Plans/Enrolled-Retirement-Plan-Agent-ERPA-Program-Changes Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
pmacduff Posted November 9, 2015 Share Posted November 9, 2015 I hear a Tom Poje song in there somewhere Austin... (to the tune of You Are My Sunshine) "....please don't take my ER PA away." Seriously though - other than the reasons given in the first FAQ does anyone see an ulterior motive(s) for this move? Link to comment Share on other sites More sharing options...
austin3515 Posted November 9, 2015 Author Share Posted November 9, 2015 Such as what? I just think they are going to phase this out. That's too bad because ERPA's were a good substitute for ERISA attorneys for loan failures for example. It is profitable work for me and saved the client a lot of money. I just think if it is too much work to provide the test the following is going to happen very soon: Vendors will stop going to all the trouble of being approved as an ERPA trainer The IRS is going to decide it is no longer efficient to track CPE the way that it does. And that will be that. Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
david rigby Posted November 9, 2015 Share Posted November 9, 2015 I don't see sinister motives, just simple: Save some budget $$. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice. Link to comment Share on other sites More sharing options...
Tom Poje Posted November 10, 2015 Share Posted November 10, 2015 Lady MacDuff- that is cute and funny! or maybe another song to Austin's moaning Don't look so sad ER-PA is over but life goes on and this old world will keep on turning.... Link to comment Share on other sites More sharing options...
John Feldt ERPA CPC QPA Posted November 11, 2015 Share Posted November 11, 2015 Maybe they could offer the exams once every 5 years instead, now that the 5-year IDP restatement cycle is removed from their task list. Link to comment Share on other sites More sharing options...
austin3515 Posted November 11, 2015 Author Share Posted November 11, 2015 Don't forget if Ted Cruz gets elected there won't be anymore IRS That's gotta be one of the most cockeyed things I ever heard. I'm sure his secret plan is really to move all of the functions to the newly established Service for Internal Revenue. MoJo and SwimmingInBowelsOfERISA 2 Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
thepensionmaven Posted November 12, 2015 Share Posted November 12, 2015 I believe the IRS wording was they will discontinue the ERPA exam, not the ERPA designation. According to the IRS release, the ERPA designation is renewable. Link to comment Share on other sites More sharing options...
austin3515 Posted November 12, 2015 Author Share Posted November 12, 2015 If you read my parenthetical and my comments, I am only assuming that it will eventually be phased out altogether. Certainly in 50 years when all the current ERPA's are retired (hopefully!) there will be no need for the designation. I simply assume it will be deleted before then. Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
mbozek Posted December 1, 2015 Share Posted December 1, 2015 This is a consequence of the continuing 3% reduction of the IRS budget every FY by the House b/c of the Lois lerner mess. IRS has reduced telephone taxpayer assistance services during tax filing season and no longer will prepare tax returns at IRS offices. Tax audits have declined to point were only .8% of taxpayers with income under $200k are audited. I also have a vague recollection that IRS was planning to stop issuing determination letters. mjb Link to comment Share on other sites More sharing options...
austin3515 Posted December 1, 2015 Author Share Posted December 1, 2015 I also have a vague recollection that IRS was planning to stop issuing determination letters. This has been done already. Not sure when it's effective, but it's in the next couple of years. Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
david rigby Posted December 2, 2015 Share Posted December 2, 2015 Austin, I think you missed the sarcasm in mbozek's post. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice. Link to comment Share on other sites More sharing options...
austin3515 Posted December 2, 2015 Author Share Posted December 2, 2015 OK, he tricked me, especially based on the specificity of every other sentence... Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
Gilmore Posted December 2, 2015 Share Posted December 2, 2015 It will be interesting to see if there is a big increase in the number of people seeking an ERPA designation with the last test cycle in the beginning of next year. It is a benefit, especially for a smaller firm, to have an ERPA on staff. If they are going to do away with my ERPA designation at some point then they should rescind the rule that a non-credentialed practicioner cannot sign a 2848, or they should make exceptions for other industry groups' designations. Link to comment Share on other sites More sharing options...
austin3515 Posted December 2, 2015 Author Share Posted December 2, 2015 If you're in this business it would be silly not to do it now. We had a guy in our office and I said in 5 years you're going to kick yourself for not doing this. Below Ground and Bill Presson 2 Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
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