Collection Due Process as Viewed by the Tax Court
Internal Revenue Service Collection Process When taxpayers cannot pay their taxes, the Internal Revenue Service (IRS) has voluntary and enforced collection alternatives available. Taxpayers can enter into installment agreements that... Sherrill Trovato, EA, USTCP
Tax Reporting for Foreign Real Property Rentals
This article addresses the reporting of foreign real property rental activities conducted directly by individuals who are United States citizens or subject to United States taxation as resident aliens. The discussion focuses on foreign currency... Patrick D. Dimmitt, EA
Overview of the Foreign Earned Income Exclusion
There are two primary provisions that United States citizens can use to mitigate potential double taxation when working and living abroad: the foreign earned income exclusion and foreign tax credit. The foreign earned income exclusion al...
From Expat to Entrepreneur to EA
I did not know it at the time, but my enrolled agent (EA) journey began in 2002 when my wife, Carrie, and I moved from the United States to Barcelona to pursue our Master of Business Administration (MBA) degrees. When we graduated in 2004, we... David McKeegan, EA
Bye Bye, Economic Realities!
On May 5, 2021, the Department of Labor (DOL) effectively withdrew the Trump administration’s independent contractor rule, continuing President Biden’s employee-friendly agenda in the labor and employment space. The much discussed “economic real... Laura D. Caty
The Value of NAEA Advocacy
The National Association of Enrolled Agents (NAEA) engages in government relations and advocacy activities on behalf of the membership with the goal of enhancing and protecting the enrolled agent credential. After many decades working closely with... Jeffery S. Trinca and Michelle McCaughey
The DNA of NAEA
As I write this, it is early June, summer is on the horizon, and the 2021 tax filing season is finally abating. The consensus seems to be this was one of the toughest ever. As someone said, it is hard to play when the rules change in the middle of the game. They sure d... David Tolleth, EA
Your Challenge: Write Content for the EA Journal
I want to use my message for this edition to encourage you to contribute content for the EA Journal. Do not get scared away – keep reading! Our collective knowledge can only increase if everyone in the community freely shares her or his exper... Thomas Gorczynski, EA, USTCP
Things You Need to Know for Tax Year 2021
Advanced Payments of Child Tax Credit to Begin July 15 The Internal Revenue Service (IRS) has announced that the first monthly payment of the expanded and newly advanceable child tax credit from the American Rescue Plan will b... TheTaxBook
Do No Harm
As someone who has been in the tax game for over 40 years and exclusively in the world of international tax for the last 18 years, my company has flourished and prospered on the mistakes of others. In 2013, when I... Mary Beth Lougen, EA, USTCP
Transitions and New Beginnings
I was jarred awake early one morning a couple months ago by the sound of chainsaws. Not necessarily a unique sound in my neighborhood in the spring as it seems everyone is having work done in or outside his or her home. But these chainsaws were taking down a tree. A very la... Megan Killian
What Is Tax Technology?
There is a sea change happening in the tax industry: Where the focus was once on compliance, it is now about value—ensuring fair taxes are being paid, managing tax risk, evaluating the tax consequences of business activities, and more. Underlying this shift to a more... Brandon Van Volkenburgh
The Elephant in the Room: Human Errors and Tax Notices
Humans make mistakes – it is a fact. And it is also the one thing that all tax preparers have in common. Transposition errors, excluding important numbers, forgetting to check a box, or duplicating an entry – all of these mistakes are prevalent in the ind... Patrick (Pat) Roberts, CPA