A quarterly magazine from the National Association of Enrolled Agents
Spring 2025 vol.43 no.1
Unmasking the Myths: Who Can Truly Be a Shareholder in an S Corporation?
Feature Article

Unmasking the Myths: Who Can Truly Be a Shareholder in an S Corporation?

Revisiting the Basics of the S Corporation: Nonresidents as Shareholders Small business corporations are more popular than ever. You hear about them on social media, and among the tax community. Indeed, sm... Fernando Juarez, EA, and Edgar Gonzalez, EA

Spring 2025, Feature Article, TCJA, Tax Cuts and Jobs Act, s corporation, c corporation, GILTI, nonresident alien, ITIN, small business, partnerships, beneficiary, controlled foreign corporation, CFC, SSN, §1362(d)(2), shareholders, double taxation, foreign bank account, green card test, substantial presence test, Treas. Reg. 1.1361-1(g)(1)(i), §7701(b)(1)(B), §7701, Office of the Chief Administrative Hearing Officer, OCAHO, Immigration Reform and Control Act of 1986, Immigration Act of 1990, electing small business trust, ESBT, tax treaty, global intangible low-taxed income, Form 8833, Treas. Reg. §301.7701(b)-7, INTL-121-90, §1361(a)(1), §1361(b)(2)(C), §1362(a), Treas. Reg. §301.7701(b)-7(a)(4), §957, §552
Tax Complexities for Mixed-status Families
Preparation

Tax Complexities for Mixed-status Families

America: The bold, the beautiful, the ultimate melting pot, where people from all over the world come in search of opportunity, freedom, and the American dream. In their pursuit of a better life in this great country, immigrants may grow t... Brittany Sabalza, EA

Spring 2025, Preparation, TCJA, Tax Cuts and Jobs Act, immigrants, COVID-19, CARES Act, Social Security, EIC, additional child tax credit, ACTC, CTC, child tax credit, ITIN, individual taxpayer identification number, SSN, undocumented, mixed-status, §32(c)(1)(E), earned income credit, Center on Budget and Policy Priorities, CBPP
Key Considerations When Representing an Undocumented Taxpayer
Representation

Key Considerations When Representing an Undocumented Taxpayer

Millions of American citizens and noncitizens alike have the obligation to pay income taxes every year. For undocumented immigrants, it is no different. In fact, undocumented workers paid $382.9 billion in federal taxes in 2022.i ... Brittany Sabalza, EA

Fall 2024, Representation, representation, immigrants, Form 1099, EITC, ACTC, CTC, §61, ITIN, SSN, §152, §32(c)(3)(A)), §2(b), §6041(a), undocumented, §301.7701, §6109
An Enrolled Agent’s Guide to the Systemic Advocacy Management System
Feature Article

An Enrolled Agent’s Guide to the Systemic Advocacy Management System

Do you know of issues at the Internal Revenue Service (IRS) that affect multiple taxpayers? Want to do something about it? Try the Systemic Advocacy Management System (SAMS). You might be thinking, “The IRS needs to a... Beth Logan, EA

Nov/Dec 2022, Feature Article, COVID-19, FICA, Federal Insurance Contributions Act, POA, power of attorney, ITIN, Form 1099-K, offer in compromise, OIC, Systemic Advocacy Management System, SAMS, Office of Systemic Advocacy, Taxpayer Advocate Service, Systemic Issue Review and Evaluation, SIRE, Form 14411, CP14 letter, Form 8822, Return Integrity & Verification Operations, RIVO, individual taxpayer identification number
Nonresident Aliens Who Own U.S. Real Property: A Primer
Feature Article

Nonresident Aliens Who Own U.S. Real Property: A Primer

The United States (U.S.) tax system allows for residentsi and nonresidentsii to file a federal income tax return and pay any taxes owed by the due date of the return. Though the Internal Revenue Service (IRS) has various tools in its arsenal to go...

Mar/Apr 2022, Feature Article, real estate, Foreign Investment in Real Property Tax Act, FIRPTA, FDAP, nonresident alien, IRC 7502, §1441, Form 8288, Form 8288-A, Form 1040-NR, ITIN, §871(d)