Service, Celebration, and Evolution
As we know it, the official birthdate of the National Association of Enrolled Agents (NAEA) is June 27, 1972, when the founders gathered and elected the first board in Hawthorne, California. But, as NAEA member Bess Messner noted in NAEA’s 20th anniversary book, ... Megan Killian
Questions for Clients During the 2021 Tax Season
Every year, most tax professionals take a Form 1040 update class to understand the tax law changes that affect tax preparation. Then many take the cookie cutter organizer and send it to clients without review. Instead, take the... Beth Logan, EA
Tax Evasion and Fraud: The Enrolled Agent’s Role
Taxpayer A, who is being audited by the Internal Revenue Service (IRS), comes to you seeking assistance. The problem, she says, is that she reported $20,000 in bogus expenses in each of two years during which she had tried to launc... Rod Monger, EA
Important Things to Know for Tax Year 2021 Returns
Infrastructure Investment and Jobs Act On November 5, 2021, Congress passed the Infrastructure Investment and Jobs Act (H.R. 3684), which President Biden is expected to sign into law. The new law addresses provisions rel... TheTaxBook
2021 and 2022 By the Numbers
Many numbers we use in our profession are indexed for inflation. The effective date for many of these inflation calculations is August 31st. This chart contains the amounts for 2021 and 2022 for many items we deal with on a regular b... David Mellem, EA
Demystifying the Code: Chapter One
In an earlier part of my life, I taught basic income tax as a law school course to hundreds of students, many of whom would prefer to read anything other than a statute. You may agree with the students. Ta... Donna M. Byrne, EA, JD, NTPI Fellow®
Fifty Years of the National Association of Enrolled Agents
It is 2022 and a landmark year for the National Association of Enrolled Agents (NAEA) – our association’s 50th anniversary. We have accomplished much, and we will reflect on those accomplishments as part of our anniversary celebration. This new year is an op... David Tolleth, EA
2021: Craziness in Action
While it certainly would be hard to top 2020, the year 2021 was quite the roller coaster ride at the federal and state levels for tax professionals, especially enrolled agents. The year began with ... Thad Inge and Michelle McCaughey
Earning Recognition
Right out of college, I was offered my first job in the insurance industry as a claims adjuster. About three years into my role, a position opened in the Accounting Department at the company. With the recommendation of my boss, I applied. Since I h... Nicole Green, EA, NTPI Fellow®
IRS Clarifies Timing of Paycheck Protection Program Loan Forgiveness Basis Increase
The Internal Revenue Service (IRS) released three new revenue procedures last month clarifying Paycheck Protection Program (PPP) loan and other federal COVID-19 grant tax-exempt income recognition, expense deductions paid with COV... Jane Ryder, EA, CPA
Looking Forward to 2022
In this issue, I want to specifically write about two things very relevant to the upcoming year – diversity initiatives and the EA Journal’s 2022 call for articles. In this edition’s Take Note, you will be introduced to the Diversity, Equity, and Inclusion Tas... Thomas Gorczynski, EA, USTCP