A quarterly magazine from the National Association of Enrolled Agents
Winter 2024 vol.42 no.4
Tax Credit Bonanza: Benefits in the Inflation Reduction Act
Feature Article

Tax Credit Bonanza: Benefits in the Inflation Reduction Act

The Inflation Reduction Act (IRA) of 2022 uses dozens of tax credits to move the United States towards energy efficiency and clean energy development. Five of these credits will be essential to know for client tax planning and advi... Thomas Gorczynski, EA, USTCP

Jan/Feb 2023, Feature Article, IRA, modified adjusted gross income, MAGI, electric vehicle, Inflation Reduction Act, §30D, Notice 2016-51, clean vehicle credit, Clean Air Act, §30B(b)(3), §30D(d)(1)), manufacturer’s suggested retail price, MSRP, §25E, §38, §45W, §4053(8), §25C, residential clean energy credit, §25D, §48E, §45Z, §45Y, clean fuel production credit, clean electricity investment credit, clean electricity production credit, renewable electricity production credit, energy investment credit, carbon oxide sequestration credit, second generation biofuel credit, sustainable aviation fuel credit, clean hydrogen production credit
Should Circular 230 More Widely Permit Contingent Fees?
Feature Article

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

Sept/Oct 2022, Feature Article, business, fraud, Form 1099-NEC, Schedule C, earned income tax credit, EITC, Schedule E, modified adjusted gross income, MAGI, Form 1099-K, contingent fee, Venmo, Zelle, Cash App, §10.27, R&D tax credit
The Desirable (Yet Complex) Real Estate Professional Classification
Feature Article

The Desirable (Yet Complex) Real Estate Professional Classification

Being a real estate professional has its tax advantages, And the average landlord does not want to pass it up. But misusing the classification can unravel expected tax consequences. Investing in rental real estate can be a l... Thomas J. Williams, EA, and Iris K. Palma, JD

Mar/Apr 2021, Feature Article, business, professional, rental, trade, Tax Court, property, Schedule E, real estate, landlord, modified adjusted gross income, MAGI, participation, personal service, nonpassive, activity