Worldwide Tax Matters
I am intrigued by the intricate concept of worldwide income and its pivotal role in international taxation. The principle of taxing citizens on their global earnings underscores the belief that individuals should contribute to their home country's financial landscape, ir... Tynisa (Ty) Gaines, EA (She/Her)
The Creditability of Contemporaneously Paid Foreign Taxes
Taxpayers earning foreign source income can satisfy their foreign tax liabilities in one of several different ways depending on the character of the income earned, the taxpayer’s level of foreign activity... Anthony (“Tony”) Malick, EA
U.S. Supreme Court to Consider Constitutionality of Repatriation Tax: Moore v. United States
The United States Supreme Court will consider the constitutionality of Internal Revenue Code (IRC) §965, which mandated the repatriation tax on previously untaxed income from controlled foreign corporations (CFCs). Rita M. Ryan, JD
Jake Johnstun, EA, NTPI Fellow®
Where do you reside? Ogden, Utah What got you involved in the tax profession? I am a third-generation accountant and second-generation enrolled agent. What is your day job? I run my pr...
Tax Compliance for Refugees
“Give me your tired, your poor, your huddled masses yearning to breathe free…” – Emma Lazarus All... Mary Beth Lougen, EA, USTCP
The “EA” as an International Credential?
The number of enrolled agents (EAs) in India has grown from 673 in 2017 to 2,262 in 2023. Enrolled agents in India now make up 3.1 percent of all enrolled agents. What’s driving this growth and how does it impact the EA profession, EA firms and employers, and the professional organi... Megan Killian
The Year 2025 Will Bring a Major Tax Policy Debate
While taxes are never far from Congress’s mind, there are certain years when the tax code can become all-consuming and overtake Congress’s agenda. Next year–2025–promises to be just such a year. Many provisions from the Tax Cu... Thad Inge and Samantha Ford
New Year, New Changes Coming to the National Association of Enrolled Agents
In this new year, I want to express our heartfelt gratitude to all those who took the time to vote in December and make their voices heard. Your participation in the decision-making process has been instrumental in shaping the future of our organization. By casting your votes, y... Cynthia Leachmoore, EA
The Best (and Worst) Countries for Crypto Taxes in 2023
Cryptocurrency (crypto) has taken the world by storm, revolutionizing the way we perceive and use money. With this digital and financial revolution, the issue of crypto taxes has become a major concern for... Zac McClure and Tynisa (Ty) Gaines, EA (She/Her)
Centralized Authorization File Unit Entering Form 2848 as Modified Preventing Tax Professionals from Getting Transcripts
Summary In 2018, the Internal Revenue Service (IRS) started to require tax professionals to check a box on Forms 8821 and 2848 if the tax professional used third-party software to download transcripts. Downloadin... Roger Nemeth, EA
Practice Management for Part-time Enrolled Agents
If you are an enrolled agent (EA) that prepares taxes on a parttime basis, practice management becomes a critical component of your success year after year. Automation and operationalization of your tax work will be key ... Dannie Lynn Fountain, EA
Late-Filed Collection Due Process Requests May Now Be Honored
If a taxpayer has an unpaid tax debt, the Internal Revenue Service (IRS) may take certain enforced collection actions provided it gives the taxpayer a right to contest those actions. Under §632... Thomas Gorczynski, EA, USTCP
Debt Basis: Is It What You Think It Is?
With the creation of Form 7203, basis has become a hot topic. In 2019, the Internal Revenue Service (IRS) started sending Letter 5969i which said: “Our research indicates you may have claimed pass-through loss o... LuSundra Everett, EA, NTPI Fellow®