What is an Accredited Tax
Advisor?
The Accreditation Council for Accountancy and
Taxation® (ACAT) was established in 1973
as a non-profit independent testing, accrediting and monitoring organization.
The Council sought to identify professionals in independent practice who
specialize in providing financial, accounting and taxation services to
individuals and small to mid-size businesses. Professionals receive
accreditation through examination and/or coursework and maintain their
accreditation through commitment to a significant program of continuing
professional education and adherence to the Council's Code of Ethics and Rules
of Professional Conduct. ACAT is affiliated with the National
Society of Accountants, headquartered in Alexandria, VA, and the College
for Financial Planning in Denver, CO.
Governance
Programs are governed by ACAT's Accountancy Standards Board and Tax Standards
Board which, together, make up the Board of Directors. The Board of Directors
includes educators, practitioners and representatives of the federal government,
independent or community-based business or a tax-related occupation. The Board
meets at least three times per year to outline new programs and seek to ensure
that testing programs continue to meet the objectives of the organization.
Objectives of ACAT
- To raise professional standards and improve the practices of accountancy and taxation.
- To identify persons with demonstrated knowledge of the principles and practices of accountancy and taxation.
- To encourage practitioners in a continuing program of professional development.
- To assure that accredited individuals provide the highest degree of technical proficiency in small and mid-size business and individual accounting and taxation services.
- To foster increased recognition for the accredited individual in the public, private and educational sectors of our nation.
Credentials
ACAT confers three professional designations:
- Accredited Business Accountant or Accredited Business Advisor (ABA)®
- Accredited Tax Preparer (ATP)®
- Accredited Tax Advisor (ATA)®
Accredited Tax Advisor (ATA)®
The ATA program is made up of six courses: Tax Planning for the Highly Compensated; Tax Planning for the Owners of a Closely Held Business; Qualified Retirement Plans; Advanced Estate Planning; Tax Practice; and Case Studies in Tax Planning. The courses offer needed information about timely and pertinent tax-related issues, such as:
- Entity selection and operation of proprietorships, partnerships and corporations
- Taxation of qualified plan distributions and plan selection
- Charitable giving techniques
- Revocable living trusts
- Tax return filing considerations
- Compensation planning techniques, and much more
Once the course has been completed, and verification of two years of experience in preparing tax returns or providing tax advice and planning to clients for compensation, registration with the Accreditation Council to use the Accredited Tax AdvisorSM (ATA) designation is the final step in receiving the designation
| Continuing Education Requirements: | 90 Hours every 3 years Hours must be in taxation, and/or related subjects, such as financial management, computer science, business law and accounting. |