Enrolled agent Study guides, Class notes & Summaries

Enrolled Agent Exam Part 1, Enrolled Agent - Part 1...

Enrolled Agent Practice Exam Questions Part 1

Which form of business entity is not a legal entity separate and apart from its owner? A. Corporation B. Partnership C. Sole proprietorship D. S corporation - correct answer -C Under which circumstance is an entity required to apply for a new employer identification number? A. Proprietorship that incorporates B. Business name change C. Electing or revoking S corp status D. 50% change of interest in partnership within 12 months. - correct answer -A LLC's may be an attractive sm...

Enrolled Agent Exam - Part 2 Tough Topics

Dual status alien Answer An alien who is both a nonresident and resident alien during the same tax year. The most common dual-status tax years are the years of arrival and departure. Resident Alien Answer If either the green card test or the substantial presence test is met. Even if the taxpayer does not meet either of these tests, (s)he may be able to choose to be treated as a U.S. resident for part of the year. Green Card Test Answer A taxpayer is a resident for tax purposes if (s)he was...

Enrolled Agent - Part 2 -with 100% verified solutions -tutor verified.

Enrolled Agent Part 2 Sample Test 4

Determining Capital Gains and Losses Answer Capital losses are netted against Capital gains to get Net Capital Gain or Loss. Net long-term capital gains against long-term capital losses and short-term capital gains against short-term capital losses. Net the net long-term capital net that amount against the net short-term gain or loss. Enrolled agent responsibilities (Prior-year returns) Answer Must let TP know of errors and omissions (do not have to correct). Look for NOL's, carryovers, ...

Enrolled Agent Exam Prep - Part 2 Latest Update Actual Exam 250+ Questions and 100% Verified Correct Answers Guaranteed A+

Enrolled Agent - Exam 1