Learning about any income tax subject begins with basic facts, but certainly doesn’t end there. Exceptions are omnipresent features of the Tax Code. Illustrating this point is the generally applicab
New due diligence documentation was required of paid tax preparers during the 2013 tax season when completing 2012 tax returns with claims of the Earned Income Tax Credit. The IRS may impose penalties
Recipients of Social Security benefits who have other income sources are especially vulnerable to tax liability surprises. Some people owe income tax on their payments received from the Social Securit
Understanding gift tax is a vital element of Enrolled Agent training because tax preparation work for individuals often stumbles upon transfers of money that comprise gifting rather than income. These
Confusion over tax filing status continues throughout the general public because of the special treatment given to taxpayers who are married as well as those unmarried with dependent children. Many ho
Complex tax matters deserve the most attention during courses to update Enrolled Agent education. An EA sometimes needs refresher lessons to cement understanding of exact details. Tax credits are the
When the IRS published new guidelines for the Offer in Compromise program, Enrolled Agent review of the changes led to expanded utilization of this process for hardship taxpayers. The initiative was p
Accepting a taxpayer’s word about business meal expense is an allowable standard when conducting Enrolled Agent tax preparation work, but it can entail occasional dangers. A little extra service cou
The concept of “passive” income has been around so long that few individuals studying for the Enrolled Agent examination are aware that it’s only existed for about thirty years. The focus of EA
Individuals starting an Enrolled Agent study course determine early in the process that they need a plan. Putting off studying until happenstance fits it into your schedule is a recipe for never findi
