EA is an abbreviation for Enrolled Agent. An EA is a tax professional authorized by the Department of the Treasury to represent individual taxpayers before the Internal Revenue Service. The duty of an EA includes preparing tax returns for...
taxation
earned income
Earned Income means monetary compensation received from services rendered including wages, salaries, bonuses, commissions, tips, etc.
According to 26 U.S. Code § 32, earned income is defined under the Internal Revenue Code...
Economic Stimulus Act of 2008
The Economic Stimulus Act of 2008 contained multiple provisions to boost the economy in the wake of the Great Recession. Individuals could receive an extra tax rebate of up to $600 outright plus $300 for every child. Businesses benefited from...
eleemosynary
Eleemosynary means charitable; supported by charity; not-for-profit. Historically, eleemosynary institutions and organizations were covered by charitable immunity and were thus immune from tort liability. Most states have restricted or...
employee
An employee is an individual who works under the supervision or control of an employer; a worker who is employed by an employer. An employee works in the service of the employer under an express or implied contract of hire that gives the...
Employer Identification Number (EIN)
An Employer Identification Number (EIN) is a unique nine-digit number assigned to U.S. business entities. The EIN is also known as Federal Employer Identification Number (FEIN) or Federal Tax Identification Number (FTIN). An EIN is unique to...
enrolled agent (EA)
Enrolled agent (EA) is a tax advisor that is authorized to represent taxpayers and businesses regarding inquiries of or appeals to the IRS. Not every tax advisor has the authority to represent individuals at the IRS. The Department of the...
enumerated powers
Enumerated powers are the powers granted to the Federal government, and specifically Congress, which are mostly listed in Article I, Section 8 of the U.S. Constitution. Namely the power “to lay and collect taxes”, duties, impost and excises,...
estate planning
Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for...
estate tax
Estate tax is the taxation of property held by an individual at the time of their death and is one of the oldest and most common forms of taxation. Such a tax can take the form, among others, of estate tax (a tax levied on the estate before...