Action Required, Addressing the Complexity of Tax Practice Rules
Historically, Circular 230 has embodied the regulation of tax practice before the IRS, including the ethical standards that tax practitioners must follow. Originally, 31 USC Sec. 330, which originated in the Horse Act of 1884, granted the secretary of the Treasury the authority to regulate agents representing claimants before the Treasury Department. Treasury used circulars to provide guidance to these agents. In 1921, these circulars were co... Marshall J. Heap, EA
Become Americas Advanced Tax Expert
BECOME AMERICA’S ADVANCED TAX EXPERT BY Mary Sunderland, EA, USTCP & Bill Nemeth, EA Do you want to stand out as a tax practitioner? Are you confident that you offer the latest and best tax advice to your clients? Do you want to grow your business by taking on more complicated tax returns and representation clients? Do you want to know the tax experts in these areas? ... Mary Sunderland, EA, USTCP
Due Diligence: It’s Not Just About EITC Anymore!
Due Diligence IT'S NOT ABOUT EITC ANYMORE By Kathy Morgan, EA, USTCP How many of you are starting to feel like we work for the IRS, “pre-auditing” clients for them? As grEAt tax professionals, the rock that we stand on has always been and will always be our integrity. However, just how much must we scrutinize our clients’ information to meet our obligations to the IRS, our clients’ well-b... Kathy Morgan, EA, USTCP
Governors From 22 States Issue “Enrolled Agent Week” Proclamations
GOVERNERS OF 22 STATES ISSUES ENROLLED AGENT WEEK PROCLAMATIONS By John Michaels Every year, representatives from NAEA state societies across America ask the governor from their respective state to help kick off filing season by issuing a proclamation declaring the first week in February “Enrolled Agent Week.” We ask for these proclamations in an effort to help educate the public about th... John Michaels
Is Merely Following Circular 230 Good Enough
Is Merely Following Circular 230 Good Enough? David J. Silverman, EA, In the years since the Of fice of Professional Responsibility began requiring enrolled agents to complete annually two credits of continuing education in ethics or professional conduct, not one seminar I have attended on these topics has gone beyond what is stated in Circular 230. Some tax practitioners might seek com... David J. Silverman, EA
Tax Reform Implementation Recommendations to IRS
Tax Reform Implementation Recommendations to IRS By Justin Edwards After nearly a year of continued efforts, and at the urging of the White House, House and Senate Republicans shepherded the Tax Cuts and Jobs Act of 2017 (TCJA) through both chambers, and the president signed the measure into law days before the Christmas holiday. Obviously, the Internal Revenue Code has... Justin Edwards
When Does the Six-Year Statute of Limitations Apply to the Reporting of Specified Foreign Financial Assets?
When Does the Six-Year Statute of Limitations Apply to the Reporting of Specified Foreign Financial Assets? Mehrdad Rafizadeh, Petitioner v. Commissioner of Internal Revenue, Respondent 150 T.C. No. 1 Filed October 2, 2017 By Steven R. Diamond, CPA The Foreign Account Tax Compliance Act (FATCA) provides that any individual who holds an interest in a specified foreign financial as... Steven R. Diamond, CPA