When Did Congress Intend the New §4973 Statute of Limitations to Take Effect?
If a taxpayer contributes more than the allowed amount to an individual retirement account (IRA), §4973 imposes a 6 percent excise tax on those excess contributions. Before the SECURE... Thomas Gorczynski, EA, USTCP
The Power of the NAEA: Elevating Your Career and Advancing the Profession
The National Association of Enrolled Agents (NAEA) serves as a dynamic platform for both promoting the enrolled agent (EA) credential and enhancing your professional reach. Engaging with the NAEA not only raises awareness ... Brandy Spears
Reliance on a Tax Preparer to e-File a Return Is Not Reasonable Cause
Taxpayers are subject to a late filing penalty under Internal Revenue Code (IRC) §6651(a)(1), unless the delay is due to reasonable cause and not willful neglect. The Supreme Court in Bo... TheTaxBook
Navigating Tax Relief: Understanding Injured Spouse vs. Innocent Spouse Relief
Tax professionals often encounter complex situations where marital obligations intersect with tax liabilities, especially when dealing with joint returns. In such cases, both spouses assume ... Desmond Hudson, EA
How Deep Does Your Representation Go?
I’m writing this a week after the National Association of Enrolled Agents (NAEA) Fly-In Day, and as I wrap up this issue, all I can think about is how important representation is. Our fly-in event allows us to represent our clients' needs before Congress, not the Interna... Tynisa (Ty) Gaines, EA (She/Her)
The EA’s Role in Fighting Misinformation About Taxes
I recently had a conversation with a reporter who was asking about the latest tax credit scam being promoted on social media. She wanted to know why this was happening and how it could be fixed. While the second question is tougher to answer, we all know why this is happening. This ... Megan Killian
Key Considerations When Representing an Undocumented Taxpayer
Millions of American citizens and noncitizens alike have the obligation to pay income taxes every year. For undocumented immigrants, it is no different. In fact, undocumented workers paid $382.9 billion in federal taxes in 2022.i ... Brittany Sabalza, EA
To Acquiesce or Not: The IRS’s Actions on Decisions
Despite their importance in tax administration, there has been very little written about the Internal Revenue Service’s (IRS) Action on Decisions (AODs) processes, as well as its inclination to focus on certain Internal Revenue Code (IRC) sections. An understanding of... Joel M. DiCicco, CPA, Philippe Dubois, and Richard S. Gendler, JD
Timalyn Bowens, EA
Where do you reside? Louisville, Kentucky What got you involved in the tax profession? I knew I wanted to go into the accounting industry in high school but after taking my first tax class I became intrigued. In 2011, I ... Timalyn Bowens, EA
It’s All About Advocacy
We like to say ADVOCACY is the heart of the National Association of Enrolled Agents (NAEA). But it is much more than that. The NAEA is all about advocacy – raising awareness, influencing decision-makers, and driving change by support... Michelle McCaughey and Thad Inge
Advocacy and Awareness – A Constant Focus for the NAEA
I hope this message finds everyone well and enjoying the end of the dog days of summer. It has been a very busy few months for the National Association of Enrolled Agents (NAEA) leadership and volunteers. In July, we held the NAEA’s 52nd Annual Meeting in ... Twila Midwood, EA
Will Your Client’s LLC Operating Agreement Make an Election Under Subchapter S Invalid?
Organization of a business enterprise as a limited liability company (LLC) has a number of advantages. In addition to ease of formation, state LLC acts dispense with many of the formalities required for corporations and wide latitude is given to... Patrick D. Dimmitt