Ch-ch-changes
I was playing around with my phone the other day and accidentally took a selfie – one of those two-inches-from-my-face-extreme-close- up selfies and it was startling. Who was that fat old guy on my screen and how did he get there? I couldn’t hit the delete button fast enough, but I couldn’t... Jerry Gaddis, EA, MBA
Citizen Advocacy – NAEA Style
For the eleventh year, NAEA members traveled to Washington, DC, to meet with their congressional representatives and senators to advocate on tax issues important to enrolled agents. The Congressional Fly-In, held this year on May 14, is a foundational event for NAEA’s advocacy program an... Rebecca Hawes
Focus + Determination = Success
Shortly after I left IRS, the agency came up with a new slogan: Service + Enforcement = Compliance. Not bad. Not great—not “We love to fly and it shows” but at least not “We love to tax and lien measure our hold time in hours and it shows,” either. Wags with fundamental math ski... Robert A. Kerr, EA
How to Manage Taxpayers Complaints
What is the form for reporting customer service-related complaints regarding the Internal Revenue Service? The answer will appear at the end of this article (remember that everyone’s tax problem is an emergency to him!). The Taxpayer Advocacy Panel Within the Taxpayer Ad... Cheryl Williams, EA
I Am Not a Therapist, but…
Taxes stress many people. As tax professionals, we end up asking questions which can raise a client’s anxiety level. “Do you have any interest income?” can lead to the answer “If my spouse would stop spending . . .” Looking for an exception to the Form 1099-R early wit... Beth Logan, EA
Impact of the Wayfair Supreme Court Decision on Nonprofits
Sales tax is imposed upon retail sales of tangible personal property and taxable services in 45 states and the District of Columbia. Each state determines the circumstances under which a sales tax is imposed on the purchaser. Purchases by nonprofit organizations are exempt in most... Katherine Gauntt
More than Initials Behind My Name
My enrolled agent (EA) journey began in 1995. At the nudging of my wife, I took a basic income tax course at a local box retailer. The topics, mainly the calculations, intrigued me, and by the end of the course, my confidence in tax preparation was high. I worked at the retailer f... James Roberson, Jr.
Successful Journey to Tax Court Practice
“This was the most physically and intellectually demanding exam I have ever taken,” reports Amber Gray-Fenner, EA, USTCP, who passed the November 8, 2018, Tax Court exam on her first attempt. She took it because it seemed “like all the people I admired on the Facebo... Sherrill Trovato, EA, USTCP
The Five-Year Resolution
Since becoming an NTPI Fellow® in 2008, I have assisted many clients with IRS collection issues. My favorite by a long shot was a 60-year- old divorced blue-collar Vietnam Veteran named Larry. During my first meeting with Larry on June 17, 2009, he brought in collect... Geri Bowman, EA, CPA, USTCP
Tax code changes put nonprofits in a bind
In 2016, a new record was surpassed in private giving to charities. Individuals, estates, foundations, and corporations were estimated to have contributed a record $390 billion to U.S. nonprofits, according to a report published in 2017 by Giving USA Foundation, an initiativ... Kim Moore
Reasonable Reliance on a Tax Pro to Avoid Accuracy Related Penalties as Viewed Through Carlos Langston and Pamela Langston v. Commissioner
Mr. Langston has a bachelor’s degree in business administration and a master’s degree in petroleum engineering. Since graduating in 1990, he has been self-employed in the oil and gas industry. Mrs. Langston holds a bachelor’s degree in accounting and a Juris Doctor degree. Whil... Sherrill Trovato, EA, USTCP
Tax Reform Means Strategic Opportunities For Nonprofits
“The GOP tax reform will devastate charitable giving.”i “Nonprofits are the unintended victims of the new tax bill.”ii “Tax reform could cost charities $13 billion a year.”iii While ... Ellie Burke
The Dollars and “Sense” of Accounts Payable Automation: How Cost Savings Translate Directly to the Bottom Line
There is no doubt that finance and accounting leaders are realizing the value of automating their invoice and payment (AP) processing workflows. In fact, an impressive 84 percent of accounts payable practitioners are optimistic about the progress their department will make ove... Laurent Charpentier
The Other Side of Employee Misclassification
Who wants to be an employee? Typically, employees are misclassified as independent contractors. And we know why — employers can save a bundle in Federal Insurance Contributions Act (FICA) and Federal Unemployment Tax Act (FUTA) taxes, as well as costly employee benefits, such as ... Alice Gilman, Esq.
The Price of Doing Good
It may seem early to think about #GivingTuesday, but the giving season will be here before you know it. I have a few charities I contribute to every year and also to those that spring into action whenever disaster strikes. Several factors motivate people to make charitable donations, i... Janelle Julien
Your Questions Answered
1. Enrolling in Medicare and Retroactive Impact on Health Savings Accounts I have a client, age 68, who retired and enrolled in regular Medicare in October. She was covered under her employer’s high deductible health plan (HDHP) from January through September, and continued to co... Gil Charney, CPA/PFS, CFP, CGMA, CMA, MBA