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NAEA
Representing taxpayers before IRS is as much an art as it is a science and NTPI provides necessary insight. For instance, attendees in Level 2 courses work through a representation case from audit to collections in sessions such as “Form 1040 Audits” and “Collection Appeals.”
In Level 3, we offer more challenging representation scenarios, including advanced trust fund recovery or advanced criminal tax issues.
But wait, there’s more. Attendees also have the choice of enrolling a single day of the latest in tax preparation advice or two days of advanced representation seminars—or both! View the schedule of classes.
Register today!
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NAEA
This issue reviews the Taxpayer First Act of 2019, weighs in on the Wayfair Supreme Court decision one year later, and examines the TCJA challenges of SALT refunds. “Your Questions Answered” dives into natural disasters and amending a married filing separately return under the TCJA. NAEA President Jerry Gaddis encourages members to cast their votes for NAEA’s Officer and Director elections and this issue’s Editor’s Message looks ahead to 2020.
Don’t forget to take the EA Journal CE test to earn four credits.
NAEA
NAEA is seeking volunteers to help raise the visibility of the enrolled agent profession by serving as media experts.
NAEA needs expert assistance in fielding regular calls from reporters requesting interviews on topics ranging from the general (e.g., tax reform, IRS, and tax returns) to the specific (e.g., TCJA, refunds, IRS collection procedures). Interested members should complete and submit the online form. A member of NAEA’s Public and Professional Awareness Committee/Media Relations Subcommittee will contact you about your application.
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Get half off select CCH(R) CPELink self-study courses during the CPE Clearance Sale.
Includes popular topics, like accounting updates, sales and use tax strategies, how to
master spreadsheets and more. Save now through Dec. 31 >
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NAEA
Whether here or overseas, U.S. taxpayers face a myriad of issues and must contend with countless special forms. This course will help the tax professional assist American clients as they live, travel, and work abroad. Topics will include foreign earned income and foreign housing credits and deductions, the foreign tax credit, information for military personnel, inter-agency cooperation, and tax avoidance schemes.
Upon completion of this course, you will be able to:
- Understand that U.S. citizens living outside of the U.S. have filing requirements comparable to citizens and residents living in the U.S.
- Determine if certain U.S. taxpayers may claim the foreign earned income exclusion.
- Correctly calculate the housing exclusion for employer-provided housing, as well as the housing deduction if the taxpayer is self-employed.
- Use the foreign tax credit to mitigate the effects of double taxation and reduce the U.S. tax liability of eligible taxpayers.
- Advise U.S. taxpayers of tax and reporting regulations that apply specifically to those living abroad, including foreign account and foreign assets reporting.
REGISTER TODAY
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Amplify the efficiency of your practice and improve collaboration with clients by automating several steps in the tax prep process. The direct integration allows for the import of client data and the ability to print directly to a specific client folder from the Lacerte/ProSeries app.
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NAEA
This webinar will take a close look at the real estate professional provision within the passive activity loss rules under IRC 469. While this Code section has existed for years it is often not well understood by many preparers and the IRS. The session will take a detailed view in applying the Code and regulations related to real estate professional. Attendees will have the opportunity to have questions answered online during the presentation for timely and practical guidance. Knowledge gained will provide attendees with a solid platform to proactively guide clients through the real estate professional maze.
Upon completion of this course, you will be able to:
- Define real property trade or business
- Understand which properties are included
- Make an aggregation election
- Apply qualified business income deduction
- Apply net investment income tax
- Investigate tax planning considerations
- Review cases and rulings.
REGISTER TODAY
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NAEA
Enter the World of FATCA: From the halls of Montezuma to the shores of Tripoli, we will fight our country's battles in the air, on land, and sea with a regulatory onslaught of paperwork. This webinar will focus on FBAR reporting and contrast it with the filing requirements for Form 8938. But what about Forms 3520, 5471, 8621, 8865, 8891? And Forms 926, 5472, 8300, 8854? Wade into the quagmire to learn what the wrath of FATCA has wrought.
Upon completion of this course, you will be able to:
- Identify when a taxpayer has a foreign reporting obligation.
- Recognize the overlap of reporting mandates stemming regulations enacted decades apart.
- Compile the information necessary to properly report foreign tax information.
- Implement best practices to help clients avoid penalties and potential criminal prosecution.
- Understand the options available to those who have been non-compliant.
REGISTER TODAY
NAEA
The Hawaii Society of Enrolled Agents invites you to earn up to 19 CE on the latest updates before tax season begins. Network with members and brush up on your skills in taxation and representation. Register today!
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NAEA
Does an issue have you stumped? Check out the NAEA Member Forum to find answers to your questions such as missed RMDs.
NAEA
NAEA helps you reach people with the power to purchase. Explore exhibit, sponsor, national training event advertising, and publication advertising opportunities across the organization.
READ MORE
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A note to our readers: The following is a list of news coverage highlights earned over the past 30 days or so. This is by no means a comprehensive list of all relevant news stories that mentioned NAEA members during that time.
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Patrick Haggerty, EA, discusses employee repayment of a wage overpayment in Bloomberg Tax’s “Payroll in Practice.”
IRS encourages non-credentialed tax preparers to become enrolled agents.
The Merkle
The IRS released an update to its guidance on crypto taxation earlier this month, the first such update since the initial version in 2014. The new guidance is in the form of a Q/A released on the IRS's website – it mainly clarifies the tax treatment of Hard Forks and Airdrops but also underlines the tax treatment of various other forms of crypto activity. This is one in a series of moves the IRS has been making to ensure crypto traders pay their dues. In August, the IRS sent out letters to some 10000 crypto investors reminding – and in some cases warning – them of their tax obligations.
READ MORE
Forbes
The best way to reduce income taxes is with year-end tax planning. Don't wait until February when you begin preparation of 2019 tax returns; that's too late for many tax savings strategies. If you have an S-Corp that is eligible for trader tax status (TTS), don't miss that section further down below, which includes essential year-end transactions, including formal payroll tax compliance for officer compensation. That unlocks the health insurance and or retirement plan deductions.
READ MORE
CNBC
You can never be too old for a surprise tax bill from the IRS. Whether you're a business owner or an individual with an elaborate estate, you may use cash value life insurance to solve any complex financial planning needs. These contracts include a savings component, known as cash value, where money can grow free of taxes. Your heirs generally get a tax-free death benefit payout if you die.
READ MORE
Forbes
The Internal Revenue Service (IRS) is warning taxpayers about a Social Security number (SSN) scam currently making the rounds. As part of the scam, thieves may call - often as a “robocall” - and try to get you to call back by claiming that your SSN is at risk. The scheme is similar to one that the IRS previously deemed "the SSN hustle.” As part of the con, scammers may try to convince you to confirm personal information, like Social Security numbers and bank account numbers, by claiming that your Social Security number may be deactivated or deleted.
READ MORE
Accounting Web
In 14 previous columns, Carrie Stemke discussed my use of “tax tidbits” to enliven conversations when talking taxes with clients, speaking to groups like business owners, retirees, investors and home sellers, or teaching adult education courses at places like high schools and community colleges. The tidbits discuss, among other things, Internal Revenue Service rulings, law changes, court decisions and tactics that trim taxes for this year and even future ones. Stemke shares more of her favorites with you here.
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CPA Practice Advisor
According to new figures released by the IRS in a fact sheet, the "tax gap" has grown to an estimated $441 billion a year, although compliance rates have remained relatively stable over the last decade (IRS FS-2019-11, September 2019). The tax gap is the difference between the total taxes owed to the IRS and the total taxes paid. It is comprised of three main components: non-filing, underreporting and underpayment. The tax gap is also categorized by five types of tax: individual income tax, corporate income tax, employment taxes, estate tax and excise tax.
READ MORE
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NAEA Tax Break | Volume 1: Issue 50
Connect with NAEA
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Colby Horton, MultiView, Executive Vice-President, Publishing/Marketing, 469-420-2601 | Media Kit
Bethanney Standerfer, Content Editor, 469-420-2688 | Contribute news
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