A quarterly magazine from the National Association of Enrolled Agents
Spring 2024 vol.42 no.1
Assessable Penalties and Abating Them
Feature Article

Assessable Penalties and Abating Them

The United States federal tax system operates on a system of somewhat voluntary compliance. However, human nature being what it is, a voluntary system without a means of enforcement lends itself to fraud, ignorance, and disregard. I... David Woods, EA

Sept/Oct 2021, Feature Article, §199A, §6651(a)(2), penalties, §6663, fraud, Form 926, §6038, Form 5471, §6662, Form 8865, accuracy-related penalty, Form 3520, Form 8858, Form 3520-A, Form 8938, §6662(j), abatement, §6651(a), §6038D, §6651(a)(1)
Avoid Penalties by Doing Your Due Diligence
Tax News Briefs

Avoid Penalties by Doing Your Due Diligence

New Due Diligence Requirements For tax year 2020, the Consolidated Appropriations Act, 2021, allows eligible taxpayers to elect to use their 2019 earned income to figure the 2020 earned income credit (EIC) or additional child tax cred... TheTaxBook

May/June 2021, Tax News Briefs, earned income, penalties, capital account, partnership, Form 1065, §6698, Schedule K-1, §6721, earned income tax credit, §6722, generally accepted accounting principles, due diligence, GAAP, EIC, §6662, additional child tax credit, §704(b), ACTC
Reasonable Reliance on a Tax Adviser as Viewed by the Tax Court
Tax Court

Reasonable Reliance on a Tax Adviser as Viewed by the Tax Court

Circular 230, §10.35 Competence Enrolled agents, certified public accountants, and attorneys must demonstrate competence in their work before the Internal Revenue Service (IRS). According to Circular 230i §10.35(a), practitione... Sherrill Trovato, EA, USTCP

May/June 2021, Tax Court, Circular 230, Form 1099-MISC, competence, §6662, §10.35, Form 1099-B, accuracy-related penalty, §6751(b)