Ran Chen, EA, CFP®

Finance Exam Prep

Education EN ↓ 281 episodes

Finance Exam Prep is a daily podcast designed to help future tax and finance professionals pass their certification and licensing exams with clarity and confidence. Built and operated by OpenExamPrep, this podcast breaks down major tax exams into focused, easy-to-digest episodes covering the CPA & Enrolled Agent (EA) Exam, including Part 1 (Individuals), Part 2 (Businesses), and Part 3 (Representation, Practices, and Procedures). Each episode targets one key tax concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessio...

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Author

Ran Chen, EA, CFP®

Episodes

Enrolled Agent Exam [Part 3] 56, Thirty-Day Letter and Written Protest 30.09.2026 3:13

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A 30-day letter is a preliminary notice from the IRS Examinati...

Enrolled Agent Exam [Part 3] 55, Audit Reconsideration and Reopening Issues 29.09.2026 2:58

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Audit reconsideration is an option when a taxpayer has been as...

Enrolled Agent Exam [Part 3] 54, IRS Summons Authority and Enforcement 28.09.2026 2:55

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The four essential "Powell factors" (LIRA) required for a vali...

Enrolled Agent Exam [Part 3] 53, Information Document Requests and Exam Interviews 27.09.2026 2:28

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to determine the relevance of an IRS Information Document...

Enrolled Agent Exam [Part 3] 52, Correspondence Office and Field Examinations 26.09.2026 3:15

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Correspondence audits are the most common, handled by mail, an...

Enrolled Agent Exam [Part 3] 51, How Returns Are Selected for Examination 25.09.2026 3:52

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How the IRS primarily uses the computer-based Discriminant Inv...

Enrolled Agent Exam [Part 3] 50, Reading IRS Notices and Protecting Deadlines 24.09.2026 2:53

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - To differentiate between a hard statutory deadline, like the 9...

Enrolled Agent Exam [Part 3] 49, IRS Third-Party Contacts and Direct Contact Rules 23.09.2026 3:40

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The IRS must generally provide a taxpayer with 45 days' advanc...

Enrolled Agent Exam [Part 3] 48, Taxpayer Bill of Rights and Publication 1 22.09.2026 3:38

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - To distinguish between the Right to Privacy (freedom from IRS...

Enrolled Agent Exam [Part 3] 47, Advising Clients About IRS Communications 21.09.2026 2:59

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to decipher complex IRS notices and explain them in simple...

Enrolled Agent Exam [Part 3] 46, Client Interviews and Fact Development 20.09.2026 3:47

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to properly verify a client's identity and their legal aut...

Enrolled Agent Exam [Part 3] 45, Building a Representation Case File 19.09.2026 3:14

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical difference between Form 2848 for representation a...

Enrolled Agent Exam [Part 3] 44, Federally Authorized Tax Practitioner Privilege 18.09.2026 3:13

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The IRC 7525 privilege extends attorney-client type confidenti...

Enrolled Agent Exam [Part 3] 43, Declaration of Representative and Eligibility 17.09.2026 2:59

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That the Declaration of Representative on Form 2848 is a sworn...

Enrolled Agent Exam [Part 3] 42, Revoking and Withdrawing an Authorization 16.09.2026 3:37

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A taxpayer is the only one who can 'revoke' a power of attorne...

Enrolled Agent Exam [Part 3] 41, Oral Disclosures and Third-Party Designees 15.09.2026 3:34

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Oral disclosure authorization is limited to a single conversat...

Enrolled Agent Exam [Part 3] 40, Form 8821 vs Form 2848 14.09.2026 3:02

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Form 8821 provides "read-only" access to tax information, whil...

Enrolled Agent Exam [Part 3] 39, CAF Numbers and Authorization Recording 13.09.2026 3:17

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The purpose of the Centralized Authorization File (CAF) and ho...

Enrolled Agent Exam [Part 3] 38, Form 2848 Power of Attorney 12.09.2026 3:40

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical importance of precisely matching taxpayer identit...

Enrolled Agent Exam [Part 3] 37, Preparer Penalty Assessment and Appeal 11.09.2026 3:23

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That an IRS examiner's immediate supervisor must provide writt...

Enrolled Agent Exam [Part 3] 36, Aiding Understatements and Other Civil Penalties 10.09.2026 3:36

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The IRC 6701 aiding and abetting penalty applies to anyone who...

Enrolled Agent Exam [Part 3] 35, Disclosure and Use of Tax Return Information 09.09.2026 3:13

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical difference between criminal penalties under IRC 7...

Enrolled Agent Exam [Part 3] 34, Other Return Preparer Penalties Under Section 6695 08.09.2026 3:27

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The specific per-failure and maximum annual penalties for admi...

Enrolled Agent Exam [Part 3] 33, Preparer Penalties Under IRC Section 6694 07.09.2026 4:16

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The two primary penalties under IRC Section 6694 for unreasona...

Enrolled Agent Exam [Part 3] 32, Frivolous Submissions and Badges of Fraud 06.09.2026 3:16

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to identify common frivolous tax arguments tested on the E...