Apr 12, 2019
The government shutdown has delayed the annual revision of the Special Enrollment Examination. The examination administered starting on May 1, 2019 has not yet been updated and reflects tax law for the calendar year 2017. A revised examination will be released on July 1, 2019 and will be based on tax law for the calendar year 2018.
...Jul 18, 2018
IRS has released a draft version of Form 1040. Following is an edited version of a IRS communication (IR-2018-146, June 29, 2018) regarding the revised form.
The new 1040 would replace the current Form 1040 as well as the Form 1040A and the Form 1040EZ. This new approach will simplify the 1040 so that all taxpayers can...
Jun 19, 2018
Basis is a huge deal on the Enrolled Agent Exam. This is mostly true when we consider Part 2, which is statistically the hardest part to pass.
Partnerships create endless fascination for us tax nerds. One issue that is always considered is the difference between inside basis and outside basis.
Inside basis is the...
May 29, 2018
Under tax reform there are a number of changes to the use of dependency. However, for the current Enrolled Agent Exam testing season which lasts until February 28, 2019, the old rules for dependency apply. One of the major concepts that test takers need to consider is the difference between a qualifying child and qualifying...
May 13, 2018
Basis can be looked at as the taxpayer’s investment for tax purposes. If someone buys a machine for $100 cash it’s easy - the basis is $100. However, property can be acquired in many different ways. That is where the expertise of an Enrolled Agent comes in handy. To some degree, knowing about basis separates...
May 4, 2018
Tax reform will eventually impact the Enrolled Agent Exam, but not for a while.
The IRS has informed us of the following:
For the Special Enrollment Examination (SEE), from May 1, 2018 – February 28, 2019, all references on the SEE are to be the Internal Revenue Code, Forms and Publications, as amended through...
Sep 17, 2017
Aug 10, 2017
Final and temporary regulations that update the due dates and extensions of time to file certain tax returns and information returns have been published by the IRS. The dates are updated to reflect the new statutory requirements set by section 2006 of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 and section...
Jul 6, 2017
From irs.gov
On June 1, 2017, the United States District Court for the District of Columbia upheld the Internal Revenue Service’s authority to require the use of a Preparer Tax Identification Number (PTIN), but enjoined the IRS from charging a user fee for the issuance and renewal of PTINs. As a result of this order, PTIN...
Jun 16, 2017
On June 1, 2017, the United States District Court for the District of Columbia upheld the Internal Revenue Service’s authority to require the use of a Preparer Tax Identification Number (PTIN), but enjoined the IRS from charging a user fee for the issuance and renewal of PTINs. As a result of this order, PTIN registration and renewal is...
May 16, 2017
A group of organizations involved in providing tax services has joined together to publish a report regarding the IRS that has been provided to Congress.
Group Encourages IRS Improvements
A diverse group of organizations has published and...
May 5, 2017
For many years, the IRS had provided aspiring Enrolled Agent Exam test takers with access to old SEE exam questions. That is no longer the case. The old SEE questions have been replaced with 60 (20 questions per part) questions.
Old Exam...