Clarice’s grandma left her an old wooden box full of recipes and a set of antique furniture. Clarice was excited to see the exact recipe for her grandma’s famous apple pie, but, to her surprise, the box held another secret. Nestled in that recipe box, in it... Kimberly Nava-Jones, EA
By now, you have probably heard of nonfungible tokens (NFTs), but what are they? And how are they taxed? Non-fungible tokens have made big news lately: selling for astronomical sums at auction, becoming major status symbols, and attracting plenty of ire along the way.... Zac McClure and Tynisa (Ty) Gaines, EA
No one gets into business wanting to do sales. However, as a firm owner, you quickly realize it is a part of the job. With no customers, there would be no revenue, so you search high and low to find tho... Nayo Carter-Gray, EA
Like so many colleagues, my enrolled agent (EA) journey began through a series of random forks in the road and some fortunate stumbles into opportunities. Career by happenstance, I suppose, but I also hear my father’s words of advice rattling aro... Jennifer MacMillan, EA
In the last issue of Capitol Corner, we discussed how the National Association of Enrolled Agents’ (NAEA) advocacy shaped new pathways for significant improvements in tax policy and tax administration amid the roller coaster ride that was the year 20... Michelle McCaughey and Thad Inge
It may not seem like a priority when you have deadlines, client demands, family obligations, and other priorities right now, but consider adding self-care to your priority list. If the last two years has any silver linings, it is the increasing awareness of mental and ph... Megan Killian
The United States (U.S.) tax system allows for residentsi and nonresidentsii to file a federal income tax return and pay any taxes owed by the due date of the return. Though the Internal Revenue Service (IRS) has various tools in its arsenal to go...
You cannot say we were not warned. Both Treasury and the Internal Revenue Service (IRS) said this filing season would once again be rocky. For once they did not disappoint. My friends and colleagues in my state affiliate are emailing, calling, and meeting together r... David Tolleth, EA
We are amid our third difficult tax season in a row: 2020 gave us the Families First Coronavirus Response Act and the CARES Act; 2021 gave us the Consolidated Appropriation Act, 2021, and the American Rescue Plan Act; and 2022 continues the aftermath of all these tax laws... Thomas Gorczynski, EA, USTCP
At the close of 2020, most tax practitioners–and Americans, in general–held out hope for better things to come in the new year. Without a doubt, 2020 was rough, and the best we could hope for was that it was in our rearview mirror. As a tax practitioner, 202... Jonathan B. Call, EA
Schedules K-2 and K-3 The Internal Revenue Service (IRS) has posted changes to the 2021 partnership instructions for Schedules K-2 and K-3 (Form 1065) on its website, www.ir... TheTaxBook