A quarterly magazine from the National Association of Enrolled Agents
Spring 2024 vol.42 no.1
Are You Prepared for the Corporate Transparency Act?
Feature Article

Are You Prepared for the Corporate Transparency Act?

As the clock strikes midnight on January 1, 2024, the Corporate Transparency Act (CTA) will come into full effect. In simple terms, the CTA requires that every company organized in the United States identifies its beneficial owne... Fernando Juarez Hernandez, EA

Winter 2023, Feature Article, FATF, CTA, financial intelligence unit, FIU, limited liability company, Egmont Group of Financial Intelligence, corporation, Title 26, beneficial owner, partnership, Title 31, inactive company, Financial Crimes Enforcement Network, National Defense Authorization Act, BOI report, FinCEN, NDAA, Schedule C, terrorism, LLC, money laundering, beneficial ownership information, Financial Action Task Force, Corporate Transparency Act
Important Things to Know for Tax Year 2021 Returns
Tax News Briefs

Important Things to Know for Tax Year 2021 Returns

Infrastructure Investment and Jobs Act On November 5, 2021, Congress passed the Infrastructure Investment and Jobs Act (H.R. 3684), which President Biden is expected to sign into law. The new law addresses provisions rel... TheTaxBook

Jan/Feb 2022, Tax News Briefs, §45Q(f), Infrastructure Investment and Jobs Act, Notice 2021-63, American Rescue Plan Act of 2021, §7508A, §408, corporation, Robert T. Stafford Disaster Relief and Emergency Assistance Act, Tax Court, §118, gross income, Form 8300, virtual currency, Consolidated Appropriations Act, fair market value, employee retention credit, §142(a)
Keeping a Pandemic at Arm’s Length: A COVID-19 Transfer Pricing Example
Feature Article

Keeping a Pandemic at Arm’s Length: A COVID-19 Transfer Pricing Example

The COVID-19 pandemic is impacting global supply chains – and, as a result, international tax transfer pricing policies – at alarming speeds. Amid this chaos, companies risk making impulsive, short-term decisions with long-term effects. In order to successfully prepare for sign... Kevin Croy, CPA

July/Aug 2020, Feature Article, pricing, corporation, example, business, supply, expenses, chain, income, revenue, COVID-19, pandemic, coronavirus, transfer
An Inquiry Into the Factors Aiding Clemency for Foreign Corporations Requesting Protective Tax Return Filing Deadline Waivers
Feature Article

An Inquiry Into the Factors Aiding Clemency for Foreign Corporations Requesting Protective Tax Return Filing Deadline Waivers

Foreign corporations (FCs) often have varying degrees of U.S. business activities which in turn subject them to varying degrees of U.S. tax exposure. Anthony (“Tony”) Malik, EA

Mar/Apr 2020, Feature Article, s corporation, c corporation, foreign, clemency, tax, asset, corporation, business, income
Taxable Mergers and Acquisitions and the Unwanted Asset
Feature Article

Taxable Mergers and Acquisitions and the Unwanted Asset

Under One Roof I sometimes wonder at the number of corporations that own real property. It is often the case that the property is the corporation’s principal asset, which it leases to one or more commercial tenants, for example. That is bad enough.i There are o... Lou Vlahos

Mar/Apr 2020, Feature Article, taxable, mergers, acquisitions, unwanted, asset, corporation
Feature Article

Undisclosed Foreign Accounts: Protecting the Executor

An executor administering an estate with undisclosed foreign accounts is exposed to substantial risks that may not be apparent. The following discussion is intended for executors and administrators who wish to understand and avoid those risks.1 A Typical Scenario A taxpayer dies. An executor is appointed and learns of foreign accounts: Tose foreign accounts hold investments. The ... Frank Agostino, Esq., Nicholas R. Karp, EA, USTCP

Mar/Apr 2018, Feature Article, undisclosed, executor, tax, accounting, corporation, business, s corporation, c corporation, foreign, accounts