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IRS Enrolled Agent

IRS Enrolled Agent IRS Enrolled Agent is a person who has earned the privilege of representing taxpayers before the Internal …


    IRS Enrolled Agent

    IRS Enrolled Agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled agent status is the highest credential the IRS awards. Enrolled agents, have unlimited practice rights. This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before.

    Part 1 Individuals

    Unit 1 Filing Information

    • General Requirements
    • Accounting Periods and Methods
    • Filing Requirements
    • Tax Withholding and Estimated Tax
    • Filing Status
    • Personal Exemptions and Dependents

    Unit 2 Gross Income

    • Wages, Salaries, and Other Earnings
    • Special Rules for Certain Employees
    • Interest Income
    • Dividends and Other Corporate Distributions

    Unit 3 Depreciation and Basis

    • Depreciation
    • Basis of Property

    Unit 4 Gains and Losses

    • Disposition or Sale of Property

    Unit 5 Items Excluded From Gross Income

    • Items Excluded from Gross Income
    • Municipal Bond Interest
    • Gain on Sale of Main Home
    • Discharge of Qualified Principal Residence Indebtedness
    • Employee Achievement Awards
    • Fringe Benefits
    • Housing Allowance for Members of Clergy
    • Military and Government Disability Pensions
    • Education-related Benefits
    • Workers’ Compensation
    • Compensation for Sickness or Injury
    • Life Insurance Proceeds
    • Foreign Earned Income Exclusion and Foreign Housing Exclusion

    Unit 6 Adjustments to Gross Income

    • Individual Retirement Arrangements (IRAs)
    • Health Saving Accounts (HSAs)
    • Self-Employed Health Insurance
    • Moving Expenses
    • Alimony
    • Education Related Adjustments
    • Other Adjustments to Income

    Unit 7 Standard and Itemized Deductions

    • Standard Deduction
    • Itemized Deductions
    • Medical and Dental Expenses
    • Taxes
    • Interest Expense
    • Charitable Contributions
    • Non-business Casualty and Theft Losses
    • Miscellaneous Deduction Subject to the 2% Limit
    • Deductions Not Subject to the 2% Limit
    • Nondeductible Expenses

    Unit 8 Taxes and Credits

    • Tax Calculations
    • Alternative Minimum Tax
    • Tax on Investment Income of Certain Children
    • Taxes for Household Employees
    • Child and Dependent Care Credit

    Unit 9 Estate Tax and Gift Tax

    • Overview
    • Gift Tax Returns (Form 709)
    • Estate Tax Returns (Form 706)

    Part 2 Business

    Unit 10 Business Entities

    • Business Entity Overview
    • Employees
    • Tax Withholding and Reporting
    • Accounting Periods
    • Accounting Methods
    • Inventory
    • Uniform Capitalization Rules

    Unit 11 Business Taxation

    • Expense and Deductions
    • Employee Compensation
    • General Business Credit
    • Net Operating Losses
    • Loss Limitations
    • Not-for-profit Activities

    Unit 12 Business Property

    • Property types
    • Depreciation
    • Section 179 Property
    • Basis of Property
    • Like-kind Exchanges

    Unit 13 Corporations

    • Business Taxed as Corporations
    • Property Exchanged for Stock
    • Filing and Paying Income Taxes
    • Income, Deductions, and Special Provisions
    • Shareholders Earnings and Profits (E&P)

    Unit 14 Partnerships

    • Forming Partnership
    • Partnership Return (Form 1065)
    • Limitations on Losses, Deductions, and Credits
    • Unrealized Receivables and Inventory
    • Partnership Distributions to Partners
    • Basis in Partnership
    • Disposition of Partner’s Interest

    Unit 15 Retirement Plans

    • SEP IRA
    • 403(b) Plans
    • Qualified Plans

    Unit 16 Specialized Returns

    • Estate Income Tax
    • Trusts
    • Exempt Organizations

    Part 3 Representation, Practice, and Procedures

    Unit 17 Preparing Returns

    • Return Preparers
    • Penalties
    • Taxpayer supporting Documentation
    • Applying to become an Authorized E-File Provider

    Unit 18 Practice before the IRS

    • Director of the Office of Professional Responsibility
    • IRS Return Preparer Office
    • Practice before the IRS

    Unit 19 Representation before the IRS

    • Power of Attorney
    • Audits/Examinations
    • Appeals of Conference
    • Penalties and Interest
    • Collection Process

    Unit 20 Tax Law

    • The Court System
    • Burden of proof
    • Tax Law and Regulations
    • Legal Reference

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