March 5, 2019 Update: The government shutdown has delayed the annual revision of the Special Enrollment Examination. The examination administered starting on May 1, 2019 will not be 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 the tax law for the calendar year 2018.

Table of Contents.

Description:

FREE With Membership: Our EA Exam Review Part I Electronic Textbook is included with our EA Part I Review Course (free with membership). 

Earning your EA designation is a professional milestone that recognizes your demonstrated tax competence and right to represent all clients regarding federal tax matters. Ready to take the next step in your career? This textbook is designed to help you prepare for and pass Part I: Individuals of the IRS Special Enrollment Examination (SEE). Part I covers individuals; individual income, deductions and credits; individual taxation; estate tax, gift tax, and FBAR.

All references to the examination and this textbook are to the Internal Revenue Code as amended through December 31, 2017, and are applicable for those taking the exam between May 1, 2018, and February 28, 2019.

EA Exam Review Part I covers:

• Assessing information from the prior year return to thoroughly report current year information.
• Identifying criteria that require a taxpayer to file an income tax return to comply with federal law.
• Determining if an individual meets the definition of a qualifying child or a qualifying relative so the taxpayer can claim the person as a dependent.
• Identifying items of reportable income and expenses for individual taxpayers.
• Calculating taxable income from retirement plan or IRA distributions to provide the taxpayer with maximum basis recovery.
• Differentiating between a refundable credit and a nonrefundable credit to provide the taxpayer with the minimum tax due.
• Categorizing the sale or disposition of assets to properly classify and report gain or loss.
• Explaining the tax consequences of gifting either cash or property.
• Identifying the primary filing obligations concerning a deceased taxpayer.
• Recognizing when reporting is required for foreign accounts.

Product Details:

Level: Intermediate level

Author: NATP Staff

Publisher: NATP

Publication Date: 2018

Format: Electronic

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