When Your Client Says, “I’ll Fake a Receipt.”
You are representing a long-time client in an Internal Revenue Service (IRS) audit. You just received a Form 4564, Information Document Request (IDR), from the IRS. The IDR is focusing on his Schedule C business expenses. You call the clie... Daniel N. Price
Should Circular 230 More Widely Permit Contingent Fees?
Editor’s note: Fees are a hot topic currently in the tax industry since there is high demand for our services but limited capacity in our firms. Circular 230 does cont... Jeremy Wells, EA, CPA, and Sarah Moessinger, EA
Tax Evasion and Fraud: The Enrolled Agent’s Role
Taxpayer A, who is being audited by the Internal Revenue Service (IRS), comes to you seeking assistance. The problem, she says, is that she reported $20,000 in bogus expenses in each of two years during which she had tried to launc... Rod Monger, EA
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
From Hero to Zero in 60 Seconds or Less
The following is a collection of anecdotes from members of the National Association of Enrolled Agents' (NAEA Ethics and Professional Conduct (EP&C) Committee. Names have been changed to preserve the confidentiality of our complainants and respondents. So...
Three Untapped Niches of Opportunity for Your Firm in 2021
Dentistry. Construction. Real estate. Working with clients in these industry verticals can provide your firm with incremental growth. While these niches are certainly solid areas to explore as you look toward increasing your firm’s profitab... Gaynor Meilke
I Spy Tax Fraud! Do You?
The word “fraud” conjures up many images, none of which are positive. As Circular 230 tax professionals, we never knowingly jeopardize our credentials while serving clients. Ever cautious, we could, nevertheless, find ourselves representing a client who has engaged in fraudulent activity. Can you recognize the signs of tax fraud? How do you handle a client’s matter with potential or actual fraudulent transactions? According to the Interna... Alan L. Pinck, EA, Ann E. Kummer, EA, CPA
Criminal Tax Investigations Proceed with Caution
EACH YEAR, the NAEA National Conference delivers high-quality tax education to enrolled agents and other tax professionals. This year will be no exception! Once again, seekers of top-notch representation and tax preparation education will gather in Las Vegas, NV, at the Cosmopolitan Hotel August 1–3. To give you a sip of the action, we’ve chosen to showcase some of the outstanding education on tap this year. In the following... Theodore (Ted) A. Sinars, JD