Life’s Chapters
Life has its chapters. The enrolled agent (EA) license started my professional chapter and it is still in progress. We, EAs, never stop learning... I am not going to say I drifted in life because all of the other chapters prior came full circle in my ongoing professional chapter. Let’s go ... Ruth Ann Michnay, EA, CPA, USTCP
What in the World Is Design Thinking for a Tax Firm?
I am sure all of you have heard the term “design thinking” – and probably tossed it aside since design thinking could not possibly relate to tax firms, but you would be wrong. Allow me to start at the beginning by defining design thinking, and then offe... Brandy Jordan
Creating a Data Breach Incident Response Plan
How to Construct a Data Breach Incident Plan A breach in data for any business can be both costly and stressful for employees and customers alike. Whether the breach leaks sensitive information, personal records, or credit card information, you should do eve... Gallagher Affinity Member Benefits and Services
Stimulus Bill Provides Relief to Plan Participants
Earlier in the year, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted into law when it was signed by President Trump. The act is far-reaching for nearly every aspect of American life and business. This article focuses on Sections 2202 and 2203 of the CARES Act, w... John R. Kirk, JD, and Alex S. Mattingly, JD
What Conditions Must Exist for IRS to be Considered Abusing Their Discretion in a Collection Action?
In order for a taxpayer to prevail in Tax Court regarding a collection issue, the taxpayer must demonstrate the IRS abused its discretion when it decided the case. An abuse of discretion can occur when the IRS fails to consider relevant information, or when the IRS acts in an arbitrary and cap... Steven R. Diamond, CPA, USTCP
COVID-19 Presents Opportunities for Leave Sharing
In an attempt to find a silver-lining to the current health situation, this article examines how the current national emergency for COVID-19 presents an opportunity for employers to enhance their benefits for employees. While leave-sharing programs are common in the public s... John Kirk, JD, and Alex Mattingly, JD
IRS Crackdowns and Expatriate Tax Compliance
In the past year, the IRS has released new compliance initiatives that target expatriates (expats), specifically. As part of these crackdowns, enrolled agents (EAs) are likely to see a rise in noncompliance notices, passport revocations, and other penalties. While these puni... David McKeegan, EA
Red Flags and Tax Audits in Cash-Intensive Businesses
Cash-Intensive Businesses A cash-intensive business is one that receives a significant amount of receipts in cash. Think of as many businesses as you can that deal in cash such as hair salons, pizzerias, restaurants, laundromats, ... Jo-Ann Weiner, EA, NTPI Fellow®
Recent Developments in Employment Tax Controversies
THE INTERNAL REVENUE CODE (IRC OR THE CODE) IS CHOCK-FULL of laws employers must follow. They are required to collect and remit taxes withheld from employee wages, including federal income tax and taxes under the Federal Insurance Contributions Act (FICA), which ... Marcus E. Dyer, CPA
Our View: State of IRS During COVID-19
The year 2020 has challenged enrolled agents at many levels. In discussions with Congress and the media, we repeatedly emphasized how the pandemic forced stakeholders to focus on IRS operations and on where Congress and the agency need to focus investment and attention. NAEA has been... Jeffery Trinca and Michelle McCaughey
Your Questions Answered
#1 QUESTION: My client has a family coverage high deductible health plan (HDHP) through her employer. In 2019, the plan covered her two dependent children: her daughter who was age 14 and her son who was age 22 and a college student. Starting in January 20... Jackie Perlman, CPA
Five Best Practices for Nonprofit Accounting in a Pandemic
There are some best practices that should be followed to ensure a nonprofit organization’s accounting needs are not only met, but maximized. Despite their diligence, nonprofit organizations are often the victims of accounting mistakes or fraud. By implementing a few best practic... Jon Osterburg, Jitasa
Building a Cathedral…
During 2020, a year I wouldn’t want to relive professionally or personally for a number of reasons, I kept my foot to the floor by focusing on the two most important issues: 1. Readying NAEA for the next step on its journey. 2. Driving value by nurturing the enrolled agent community.... Robert A. Kerr, EA
Turn! Turn! Turn!
With apologies to The Byrds, Pete Seeger, and King Solomon, the year 2020 underscores the notion that for everything there is a season! And I suggest that for NAEA, we may have reaped the harvest of what we have sown over the past almost 50 years and for the tax industry,... Donald Rosenberg, EA
The Road Ahead
As the newly appointed editor-in-chief of the EA Journal, I wanted to write to introduce myself to the readership and give a brief overview of my vision for EA Journal over the next several years. I have been in the tax field since 2009, earning my Ma... Thomas Gorczynski, EA, USTCP