What Is the Big Deal About Boechler?
A tax-related U.S. Supreme Court (SCOTUS) case is always notable, and Boechler is no exception. The key issue in Boechler is whether the 30-day time limit for filing a Tax Court petition–described in Internal Revenue Cod... Phyllis Jo Kubey, EA
Health Savings Accounts: An Often-Overlooked Tax Savings
For certain taxpayers, such as high-income employees, it is challenging to find ways to reduce federal tax liabilities proactively. Since high-income employees often have sufficient cash to fund out-of-pocket medical expe... Thomas Gorczynski, EA, USTCP
A Blueprint for the Future
On a recent hiking trip, I came across a tree reaching at least 40 feet into the sky and growing on top of a rock that stood at least three times taller than me. As I stood in awe, I noticed the tree’s roots. While the majestic tree grew strong on top of this... Kathy Brown, EA
Sharing a Common Purpose
I was the first in my family to go to college and I had no idea what to study. I was good at math and science. At one point, I dreamed of building roads and bridges in remote places and considered engineering. Fortunately... David Tolleth, EA
The Fight Continues Today and Every Day
The success in Minnesota was a big win for enrolled agents (EAs). For two years, the National Association of Enrolled Agents (NAEA) worked with various state agencies, lobbyists, attorneys, and other stakeholders to reverse a mistake that would have been detrimental to the ...
All About NAEA’s Newest White Paper
In early May, the National Association of Enrolled Agents (NAEA) released its newest white paper, “Putting Service Back into the Internal Revenue Service: NAEA’s Recommendations on IRS Reforms.” The clever t... Thad Inge and Claire Nevill
The Time to Make Business Shifts Is Now
Before you know it, it will be time to wrap up extension returns. Then once those are out the door, you will start gearing up for the next tax season. I believe November is too late to consider significant shifts for the upcoming tax season. It would help if you beg... Thomas Gorczynski, EA, USTCP
Should Congress Permanently Extend the Filing Deadline?
PRO Cryptocurrency Did Not Exist in 1955. It Is Time to Update National Tax Day. National Tax Day (April 15) has not been modified since 1955. In 1955, the federal tax code was 929 pages....
Is a Remote Tax Court Exam Easier to Pass?
Circular 230 practitioners know we cannot always resolve tax controversies in the Internal Revenue Service (IRS) administrative processes within the Examination, Collection and App... Sherrill Trovato, EA, USTCP
Insurance Claims that Can Ruin Your Tax Preparation Business
Tax preparers and enrolled agents have significant legal exposures. Consider some of the potential claims you might face and how professional liability insurance can help you mitigate them. “Nothing ... Lauren Pitonyak
The PTC, Itemized Deductions, Employer Leave-Based Donation Programs, Tracking Refunds, and Bribes
Premium Tax Credit Regulations Amended Wages are deductible by a C corporation in computing taxable income, but dividends are not. In a closely held corporation, the owners might decide to take ... TheTaxBook