Going into a Guaranteed Installment Agreement with the IRS An installment agreement is a payment arrangement between a taxpayer and the IRS. It allows the taxpayer to repay the debt over time. Not all taxpayers will qualify for an offer in compromise or to pay pennies on the dollar. So it's a good thing that those aren't their only payment and negotiation options. If your client doesn't qualify for an offer in compromise, don't feel defeated. There are still ways that you can

Things have changed drastically since my first busy season in 2011 at a CPA firm. I worked at a firm that had gone international, and they had a lot more resources than I had when I first started my firm. In my first busy season, my tech stack wasn't too complex. Technology has changed a lot within the past decade, and so have the tools that I now utilize. It has made the barriers to entry to starting a streamlined Enrolled Agent firm lower. That's why I want to share what I

Ping Assistant logo courtesy of Ping It's not too often that I find a self-proclaimed AI tool for accountants that I am fond of. It's nothing personal against the software companies or the technology. Artificial intelligence has been around for a while in the tax world, Gruntworx anybody? But since ChatGPT, whom I infectiously refer to as Chat Daddy, has hit the scene, it has put a bad taste in my mouth. AI has become a crutch for people who use it as a final answer rather th

Part I of Form 2848 O ne thing that I have learned in life and in my journey as an Enrolled Agent is that you don't know what you don't know. Learning the ropes of representing taxpayers can take time. Even when it comes to filling out Form 2848, Power of Attorney and Declaration , which is the very first step in representing a taxpayer. After the engagement letter gets signed, and you're paid, of course. Sometimes we mess up that very first step. Yes, even me. When I was sta