SEE Part 2
·Updated April 2026
SEE Part 2 covers business taxation — entity choice, partnership and corporate returns, employment taxes, depreciation, and specialized returns. 100 multiple-choice questions across three domains. Most candidates rate Part 2 as the hardest of the three.
100 multiple-choice questions across three domains. 3.5 hours testing time. Delivered by PSI Services starting March 1, 2026. Available May 1 through February 28/29.
Business Tax Preparation alone is ~37 questions — over a third of the exam.
Depreciation (MACRS, §179, bonus depreciation) is a consistent trouble spot.
Entity choice analysis (sole prop vs partnership vs S corp vs C corp) is heavily tested.
Most candidates prep 6–10 weeks at 8–12 hours per week.
Exam fee is $267 per part (as of March 2025). Delivery transitions from Prometric to PSI Services on March 1, 2026. Always verify current details at irs.gov/enrolled-agents before scheduling.
The 3 domains tested on SEE Part 2, paraphrased from the public IRS content outline. Approximate question counts are published by the IRS and may shift between testing cycles.
Entity selection, formation, and operation: sole proprietorships, partnerships, C corps, S corps, LLCs, and trusts. Choice-of-entity analysis is heavily tested.
The operational mechanics of business tax returns: income recognition, expense deduction, depreciation, and employment taxes. Largest single domain on Part 2.
Farm returns, exempt organizations, retirement plans, trust returns, and niche business filings.
exclam.ai does not reproduce IRS exam questions. Domain names and question shares above are paraphrased from the publicly published SEE content outline at irs.gov.
Every IRS publication below is a work of the U.S. federal government — public domain under 17 U.S.C. §105. Download them and upload to exclam.ai to build a study plan from the source material itself.
Sole proprietorship tax treatment, deductible business expenses, and Schedule C mechanics.
Partnership formation, operation, distributions, liquidations, and basis tracking.
C corp taxation, dividends-received deduction, NOLs, and reorganizations.
Employment tax withholding, FICA/FUTA, and Form 941/940 preparation.
MACRS, §179, and bonus depreciation mechanics. Heavily tested.
Deductible travel, meals (with current percentage limit), and vehicle expense methods.
Cash vs accrual method, accounting period elections, and changes in accounting method.
Farm income recognition, farm expenses, and special rules (income averaging, crop insurance).
SEP, SIMPLE, and qualified plan rules for small employers.
The publications above are all public domain. Upload them to exclam.ai and skip the commercial prep cost entirely — or upload your Gleim/Surgent notes alongside them for a hybrid approach.
Adaptive flashcards and SEE-format multiple-choice practice questions, mapped to the 3 Part 2 domains. Edit any card. Add your own.
Coverage phase across all 3 domains, review phase for weak topics, mocks in the final 1-2 weeks. Rebalances when you fall behind.
Duration plans cover all three SEE parts. Pick the timeline that works with your testing window schedule.
exclam.ai works alongside any of these vendors — or with free IRS publications alone. Upload your session notes from any commercial prep program and exclam.ai builds the weekly plan and flashcard layer.
Premium tier ~$598. Extensive partnership and corporate question coverage.
Ultimate Pass ~$999. Adaptive engine shortens study time for those with business tax backgrounds.
Smart Bundle ~$539. Well-regarded video lectures on entity taxation.
Free. Pub 334 + Pub 15 + Pub 541 + Pub 542 + Pub 946 covers most of Part 2.
Breadth. Part 2 spans sole proprietorships, partnerships, C corps, S corps, LLCs, trusts, employment tax, and specialized returns — each with its own rules, forms, and basis concepts. Most candidates have not worked across all entity types professionally.
A lot. MACRS, §179, bonus depreciation, listed property limits, and Section 1250/1245 recapture all recur. Pub 946 is essentially required reading.
Most candidates take Part 1 first because individual tax knowledge carries into Part 2 (pass-through K-1 items, Schedule C). Some tax professionals with strong business backgrounds reverse the order. Part 3 is almost always last.
Not accounting-grade bookkeeping, but you need comfort with financial statement concepts (balance sheet, income statement), accounting methods (cash vs accrual), and inventory flow. Pub 538 covers the accounting method rules tested.
Upload free IRS publications or your own prep notes and exclam.ai builds an adaptive weekly plan around your exam date.