The EA license is most relevant for those of us who do tax.  Because it is a federal license, when representing taxpayers before state taxing agencies, EAs don't run into the issues that out of state CPAs sometimes do.  I've also heard that EAs tend to have an easier time dealing with IRS agents.  At least for now, I'm planning to keep my EA license even after I get the CPA license.

The EA exam tests all major areas of federal tax, including individuals, corporations, partnerships, trusts and estates, and tax ethics.  It is similar to the tax parts of the REG exam but in much greater breadth and depth.  When I took the exam, it was a 4 part, 11 hour, all multiple choice, pencil and paper exam given once a year over 2 days at various IRS offices in the country.  It is now computerized, also given by Prometric I believe, consolidated into 3 sections, given many times throughout the year, and much more expensive.  It was $55 for all 4 parts when I took it.

I took the EA exam back in 2005 because I did not have the education to qualify for the CPA exam.  Unfortunately, CPA firms have the best tax work, and they look down upon non-CPAs.  When I first tried to get a full-time tax preparer job 3 years ago, all the CPA firms were displeased with me for not being a CPA.  Finally I got a job with my previous employer, who also was unhappy with me for not being a CPA and greatly pressured me to go back to school and qualify for the CPA exam.  And thus began my CPA journey.

Just an FYI for EA's in NY - you have to register with NYS if you are preparing returns - plus a $100 fee.

http://www.tax.state.ny.us/tp/tpreg.htm

The registration requirements are on the link.

Yep, I noticed that.  :-(

However, recently NY passed legislation that exempts out of state CPAs from having to register.  Before, only NY licensed CPAs were exempt from registration.