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2024 Spring EA Journal Exam

2024 Spring EA Journal Exam

IRS Program #: X9QQU-T-01109-24-S
CE: 3 IRS credits
Course Description
This edition of the EA Journal Exam will cover S corporations / International tax issues.

Overview of Articles
The Creditability of Contemporaneously Paid Foreign Taxes
Anthony (“Tony”) Malick
Depending on any given cash basis taxpayer’s facts and circumstances, there could be differences between the amount of foreign taxes paid during a taxpayer's U.S. tax year and the amount of paid foreign taxes that may be claimed by the taxpayer as a credit during that same U.S. tax year.

Tax Compliance for Refugees
Mary Beth Lougen, EA, USTCP
Upon entering the United States, immigrants, refugees, and asylees all become subject to the Internal Revenue Code and must navigate how to file their taxes under one of the world’s most complex tax codes.

The Best (and Worst) Countries for Crypto Taxes in 2023
Zac Maclure and Tynisa (“Ty”) Gaines, EA
Tax treatment of cryptocurrencies varies from region to region, and while some nations have embraced lenient policies, others impose heavy taxation on crypto transactions.

Tax Court
Late-Filed Collection Due Process Requests May Now Be Honored

Thomas A. Gorczynski, EA, USTCP
If a taxpayer has an unpaid tax debt, the Internal Revenue Service (IRS) may take certain enforced collection actions provided it gives the taxpayer a right to contest those actions.

Debt Basis: Is It What You Think It Is?
LuSundra Everett, EA, NTPI Fellow®
With the creation of Form 7203, basis has become a hot topic. There are two types of basis in an S corporation: stock basis and debt basis. A shareholder can have both stock and debt basis. This article focuses on debt basis.

Supreme Court
U.S. Supreme Court to Consider Constitutionality of Repatriation Tax: Moore v. United States
Rita M. Ryan, JD
The United States Supreme Court will consider the constitutionality of Internal Revenue Code (IRC) §965, which mandated the repatriation tax on previously untaxed income from controlled foreign corporations (CFCs).

Continuing Education
This course qualifies for IRS Continuing Education Hours. NAEA reports IRS CE on a monthly basis. If you have not received your CE Hours in your IRS PTIN Account by the end of the month after receiving the certificate, please contact NAEA at IRS Requirements for live webinars require at least 50 minutes per hour of attendance and answering 3 out of the 4 polling questions. For on-demand, you must watch the full video, answer the knowledge check, and pass the assessment with a score of 70% or above. No partial CE is offered.

Product Refund Policy
To request a refund, contact the NAEA education team via email at An NAEA education team member will review the request for a refund. If the refund request has been approved, the refund will be refunded on the same method of purchase. Live Webinars, also offered On-Demand will not be refunded.