The undisputed gold standard in the industry

[Rapid Robert]

"The CPA (Certified Public Accountant) is the undisputed gold standard in the [tax professional] industry. However, if your situation isn’t complex, you may be perfectly fine working with an EA (Enrolled Agent). EAs focus specifically on taxation, while CPAs usually handle taxes and more."

Link:
How to choose the right tax pro

The author is neither a CPA nor an EA, rather a financial advisor somewhere near the beautiful town of Glenwood Springs, Colorado. For a financial pro, he seems to think "gold standard" means something different than what it means. (at least according to both Wikipedia and Merriam-Webster).

I participate in several EA-only discussion forums, and have read-only access to a very active CPA-only forum. The number of questions and answers I see displaying ignorance of major recent tax law changes, or even basic tax theory, seems roughly equal to me in both groups.

"For example, if you’re a high earner with restricted stock units, investment income and rental properties, your CPA should understand these issues inside and out."

I've successfully and profitably prepared many returns for this type of client over many years, but I'm an EA, not a CPA, so this seems like bad advice by omission.

[terryats]

If CPA's are the gold standard, why does the IRS only let them represent clients is the state's they are licensed in, whereby EA's can represent any TP in any state. Having said that I have seen good and bad in both categories

[Anarchrist]

If CPA's are the gold standard, why does the IRS only let them represent clients is the state's they are licensed in, whereby EA's can represent any TP in any state. Having said that I have seen good and bad in both categories

Because CPA is a state license and EA is a federal license.

[Rapid Robert]

"IRS only let [CPAs] represent clients is the state's they are licensed in"

I don't think that's true. It is not mentioned anywhere in the instructions for Form 2848. Besides, how is the IRS going to know which state(s) the taxpayer is resident in? (The mailing address on the return obviously does not determine residency status).

On a related note, it seems like more and more practitioners are looking to sell their practices, at least on the bulk mail list I'm on. I've always found it funny that they (the sellers and brokers) make a big deal about distinguishing between a "CPA tax practice" and an "EA tax practice". I bet a CPA facing increased seller competition might actually swallow their false pride and accept a buy offer from an EA, ha ha.