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
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 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)
You Cannot Escape Cryptocurrency or International Tax Issues
You may wonder why this edition is not an ethics edition as is the EA Journal custom. Rumor has it that the Treasury Department plans to propose changes to Circular 230 this year. We have made an editorial decision this year to postpo... Thomas Gorczynski, EA, USTCP
Tax Policy 101
Those of you who have made the pilgrimage to the Internal Revenue Services’ (IRS) headquarters, which I have quasi-affectionately referred to as “the big house,” (or by its address, 1111 Constitution Avenue) may have noted the Oliver Wendall H... Robert Kerr, EA
Tax Reporting for Foreign Real Property Rentals
This article addresses the reporting of foreign real property rental activities conducted directly by individuals who are United States citizens or subject to United States taxation as resident aliens. The discussion focuses on foreign currency... Patrick D. Dimmitt, EA
Overview of the Foreign Earned Income Exclusion
There are two primary provisions that United States citizens can use to mitigate potential double taxation when working and living abroad: the foreign earned income exclusion and foreign tax credit. The foreign earned income exclusion al...
From Expat to Entrepreneur to EA
I did not know it at the time, but my enrolled agent (EA) journey began in 2002 when my wife, Carrie, and I moved from the United States to Barcelona to pursue our Master of Business Administration (MBA) degrees. When we graduated in 2004, we... David McKeegan, EA
Do No Harm
As someone who has been in the tax game for over 40 years and exclusively in the world of international tax for the last 18 years, my company has flourished and prospered on the mistakes of others. In 2013, when I... Mary Beth Lougen, EA, USTCP
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
International Representation: What You Should Know
Return preparation and representation of clients with offshore accounts and assets has become one of the hottest and fastest-growing areas in tax practice. It is a difficult and convoluted world of rules with high stakes that often lack definitive and clear guidance. Before taking on a taxpayer with foreign ties, be sure to read up on what needs to be filed, when it needs to be filed, and what defines “filed.” You will also want to know what ... Mary Beth Lougen, EA, USTCP