Tax Court

Can a Deceased Taxpayer Spouse Use the AMT Credit that Arose from ISO Exercised by the Spouse Before Death

Nadine L. Vichich, Petitioner v. Commissioner of Internal Revenue, Respondent 146 T.C. No.12 Filed April 21, 2016 Individuals do not recognize gain or loss when an incentive stock option (ISO) is granted or exercised for regular tax purposes. If the taxpayer's rights are freely transferable or not subject to a substantial risk of forfeiture, an adjustment must be made for alternative minimum tax (AMT) purposes by in... Steven R. Daimond , CPA

Feature Article

Criminal Tax Investigations Proceed with Caution

EACH YEAR, the NAEA National Conference delivers high-quality tax education to enrolled agents and other tax professionals. This year will be no exception! Once again, seekers of top-notch representation and tax preparation education will gather in Las Vegas, NV, at the Cosmopolitan Hotel August 1–3. To give you a sip of the action, we’ve chosen to showcase some of the outstanding education on tap this year. In the following... Theodore (Ted) A. Sinars, JD

Feature Article

How to Stop a Trust Fund Recovery Penalty Interview

Your client operates a business that owes employment taxes to the IRS, and an IRS Revenue Officer has just called you and requested that your client come down to his office for a meeting to discuss the debt. You presume the Revenue Officer wants to discuss collection of the debt from the business, maybe requesting that your client complete a Form 433B, Collection Information Statement for Businesses. After all, the business owes the debt,... By HOWARD LEVY, JD

Feature Article

Portrait of a non-filer

What is a non-filer? A non-filer is defined as a person (individual, corporation, estate, trust or partnership) who has met certain thresholds but has yet to file a tax return by the statutory or extended due date. As enrolled agents, we have to figure out how to help these people get compliant. Aft er all, besides making sure our clients do not pay more in taxes than they are required to, part of our job is to make sure that they are complia... Jeffrey A. Schneider, EA

Capitol Corner

The Courage to Change the Things We Can

As I write this, we are fresh off of our eighth annual Fly-In Day. The promised rain never came to dampen our spirits, and nearly 100 EA advocates were trained and primed. The enrolled agent message was clear and consistent. I am amazed—and humbled—every year by the dedication and enthusiasm of our EA advocates (please see photographs on pages 8 and 9, as well as on NAEA’s Facebook page), all of whom made their way to D.C.... Robert Kerr

Feature Article

What’s Your Process – How to Work a Collections Case

Introduction Coming into collection representation work in the late 90s, much of the disparity between practitioners rested in sorting out who knew the most rules and laws. A representative’s ability to answer questions relating to technical aspects of IRS enforcement (such as how many days exist before I lose levied money? or how long do I have to appeal a Trust Fund Recovery Penalty assessment?) were commonplace. Yet today with al... David Miles, EA