The Premium Tax Credit: History, Recent Developments, and Future Prospects
The premium tax credit (PTC) is a cornerstone of the Affordable Care Act (ACA), designed to make health insurance more affordable for middle-income Americans. As a refundable credit, the PTC helps individuals and families purchase health insurance through the Health Insurance Marketplace, directly impacting the affordability of healthcare coverage. This article explores the history of the PTC, recent developments, and future prospects, provid... Cody Adams, EA
2024 and 2025 by the Numbers
Many numbers we use in our profession are indexed for inflation. The effective date for many of these inflation calculations is August 31st. This chart contains the amounts for 2024 and 2025 for many items we deal with on a regular basis. These amo... Compiled by David L. Mellem, EA
The Super Bowl of Tax
Congress has been gearing up and preparing for 2025 in what is expected to be a monumental year for tax legislation – the “Super Bowl of Tax.” With changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) scheduled to expire at the end of n... Thad Inge, Samantha Ford, and Michelle McCaughey
Tax Appointment Worksheet
The tax appointment worksheet is a tool to help you gather the needed information for new and returning clients for the 2024 tax year. This year’s worksheet has been enhanced to reflect the changes i... Compiled by Mary Mellem, EA
Digital Asset Final Regulations: What Tax Professionals Need to Know
In 2021, Public Law 117-58, the Infrastructure Investment and Jobs Act, §80603, required brokers to report transactions involving digital assets similar to stocks. This includes information on sale pr... Tynisa (Ty) Gaines, EA (She/Her)
No Crystal Ball Needed Here
A few months ago, an Intuit advertising (ad) campaign raised concerns from National Association of Enrolled Agents (NAEA) members and other tax professionals. The tax professional community was rightfully upset with the message and the tone of the campaign and the NAEA, along with o... Megan Killian
When Submitting a Tax Return Is Good Enough Versus When It Is Not
In recent years, taxpayers have had a dizzying array of court cases which define when a tax return is filed versus when it is not. Last year, on March 10, 2023, the full panel of the US Court of Appea... David Woods, EA, USTCP
Celebrating Accomplishments and Future Plans
As 2025 is upon us, I wish everyone a happy new year! I also want to take this opportunity to reflect on the accomplishments we’ve achieved together this past year and thank all our members for being part of the National Association of Enrolled Agent (NAEA) community. It has been... Twila Midwood, EA
My Journey to the US Tax Court Practitioner Exam
As an enrolled agent (EA) with a solid foundation in tax law, I decided to take on the challenge of becoming a US Tax Court Practitioner. This decision was fueled by my ambition to provide more comprehensive services to... Jacqueline W. Pointer, EA
Is the Deadline to File a Tax Court Petition Jurisdictional?
Whether the deadlines to file a United States Tax Court petition are jurisdictional has been a developing issue over the last two years and has been discussed in previous issues of the EA Journal (see the Fall 2023 and Spring 2024 Tax Cou... Thomas Gorczynski, EA, USTCP
ICYMI
A roundup of recent discussions from the NAEA WebBoard. QUESTION #1: I have a client who rents out land for a solar farm. I read that a land rental cannot qualify for the qualified business income (QBI) deduction but am trying to find a ... Tynisa Gaines, EA, and Patrick D. Dimmitt, EA
Tax Considerations for Real Estate Investors: A Tax Consultant’s Guide
Real estate investments offer significant tax benefits. However, they are also subject to complex regulations and potential pitfalls. Guiding real estate investors requires tax consultants to understand tax law, investme... Joshua Scott, EA
Building Your Enrolled Agent Practice Through Social Media
As you consider ways to continue growing your enrolled agent (EA) practice, have you turned to social media yet as a promotional avenue? In today's digital age, social media has become a powerful tool for E... Dannie Lynn Fountain, EA
You Are the NAEA
Opportunities to Give and Receive The National Association of Enrolled Agents (NAEA) is a member organization. Therefore, you, me, and we are all part of the NAEA. Because of the unique talents we all bring to our org... Terry Durkin, EA, SSLA Faculty Member
Navigating Cannabis Tax Planning
Navigating the murky waters of cannabis tax planning has always been complex when you consider the ambiguity around the tax code and the regulations impacting the marijuana industry. So how do enrolled agents who chose t... Amorette D. Mason, EA
Preparing for the 2024 Tax Season: What’s on the Horizon?
As we approach the 2024 tax season, the landscape continues to evolve, bringing fresh challenges and opportunities for tax professionals. From new digital asset reporting rules to inflation adjustments to the complex cannabis tax landscape, practitioners must remain adap... Tynisa (Ty) Gaines, EA (She/Her)
Decoding IRS Transcripts: Navigating the Maze for Better Tax Resolution and Audit Preparedness
Aspect-Based Sentiment Analysis: Insights from r/IRS Subreddit I analyzed tax community sentiments regarding Internal Revenue Service (IRS) transcripts from 927 “hot” posts from the r/IRS (Internal Revenue Service News, and Taxpayer Disputes) subreddit, which is one of the largest online forums comprising tax professionals with more than 79,000 members. This subreddit serves as a hub for discussions, queries, and experiences... Dr. Desai, EA
Nayo Carter-Gray, EA
Where do you reside? Baltimore, Maryland What got you involved in the tax profession? I started in high school when I had my first summer job and discovered I could get a tax refund. I charged all my f... Nayo Carter-Gray, EA