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Questions and Answers
If an individual is unable to retake the examination in a subsequent year, would he/ she lose credit for examination parts passed?
If an individual is unable to retake the examination in a subsequent year, would he/ she lose credit for examination parts passed?
True
In the above situation, does the candidate still have only four years to complete the examination successfully or is the candidate allowed additional years?
In the above situation, does the candidate still have only four years to complete the examination successfully or is the candidate allowed additional years?
The candidate would be allowed additional years, but a total of six years to complete the exam.
May an individual change the district in which he/she takes the examination from year to year?
May an individual change the district in which he/she takes the examination from year to year?
True
Would an individual who passed one or more parts of the examination in the first year and again failed the parts he/she had to take in the second year be able to carry over first year credit?
Would an individual who passed one or more parts of the examination in the first year and again failed the parts he/she had to take in the second year be able to carry over first year credit?
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What if an individual took all four parts of the examination in 1996 and did not pass any of the four parts?
What if an individual took all four parts of the examination in 1996 and did not pass any of the four parts?
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May an individual take one part of the examination per year for four years?
May an individual take one part of the examination per year for four years?
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How many years may an individual take the examination without passing at least one part?
How many years may an individual take the examination without passing at least one part?
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Because the tax information is enormous, so we have extracted the key points relating to the examination together with "exercises" to form a four-part WORKBOOK. We recommend you study the WORKBOOK and the PAST IRS EXAMINATIONS AND QUESTIONS we supplied to you. You do not need to study all the IRS publications (SEE Package), you should use them as the indispensable references.
Because the tax information is enormous, so we have extracted the key points relating to the examination together with "exercises" to form a four-part WORKBOOK. We recommend you study the WORKBOOK and the PAST IRS EXAMINATIONS AND QUESTIONS we supplied to you. You do not need to study all the IRS publications (SEE Package), you should use them as the indispensable references.
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You are not allowed to bring a calculator into the exam, so practice those computation questions by hand.
You are not allowed to bring a calculator into the exam, so practice those computation questions by hand.
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Pay more attentions to the computational questions in Section C first. These questions are worth 3 points each and it is important you finish them first. Answer the TRUE/FALSE questions (Section A)) last, because they are worth one point each and you have a 50% chance of picking the right answer.
Pay more attentions to the computational questions in Section C first. These questions are worth 3 points each and it is important you finish them first. Answer the TRUE/FALSE questions (Section A)) last, because they are worth one point each and you have a 50% chance of picking the right answer.
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Many of the questions on Part 4 can be answered using common sense. The IRS likes to ask a few esoteric questions that will not be familiar to you. Read the questions carefully, if the question sounds like it makes sense, mark true.
Many of the questions on Part 4 can be answered using common sense. The IRS likes to ask a few esoteric questions that will not be familiar to you. Read the questions carefully, if the question sounds like it makes sense, mark true.
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Most of the true questions in Section A are statements right out of the IRS publications, IRC code, or regulations. Make sure you memorize all those true questions. On the last five year's exams if you had answered true to every questions on Section A, you would have passed that section of the exam.
Most of the true questions in Section A are statements right out of the IRS publications, IRC code, or regulations. Make sure you memorize all those true questions. On the last five year's exams if you had answered true to every questions on Section A, you would have passed that section of the exam.
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Do NOT attempt to learn every specific details of the tax law. You cannot. We have designed this course to give you "enough" tax information to pass all four parts of the exam the first time. The passing grade for last five years exams were between 50% to 58%.
Do NOT attempt to learn every specific details of the tax law. You cannot. We have designed this course to give you "enough" tax information to pass all four parts of the exam the first time. The passing grade for last five years exams were between 50% to 58%.
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Study Notes
IRS Enrolled Agent Examination - Part 1: Individuals
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Filing Requirements:
- U.S. citizens/residents must file if gross income meets certain thresholds, based on filing status and age. Filing is required even if no tax is owed. Penalties apply for failure to file.
- Gross income includes all income received (money, property, services).
- Filing status is determined on the last day of the tax year.
- Age 65 is considered on the day before the 65th birthday.
- Filing requirements differ for dependents (see Table 2, Pub 501 for details).
- Self-employed individuals must file if gross business income exceeds specific thresholds. Different rules apply for different types of businesses.
- Filing is required in other cases even if gross income is below the threshold. This includes situations with special taxes, wages from church-related organizations, and advanced earned income credit payments.
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Filing Status:
- Single (S): Unmarried or legally separated.
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Married Filing Jointly (MFJ): Married, living together, or under certain divorce situations;
- Joint liability applies to both spouses.
- Special circumstances allow one spouse to be "innocent" and not liable for tax issues of the other spouse.
- Married Filing Separately (MFS): Married; rules of how MFS impacts standard deduction, credits, and other tax aspects exist.
- Qualifying Widow(er): Two years after the year of a spouse's death if certain conditions are met (no remarriage, has a dependent child).
- Head of Household (HH): Unmarried; pays more than half the cost of keeping up a home for self and a qualifying person for the year. Specific rules for qualifying persons and costs exist.
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Personal Exemptions and Dependents:
- Basic exemption allowed per taxpayer and spouse (if married). Exemptions are not allowed if the taxpayer is claimed as a dependent on another return (except special MFS case).
- Dependency tests:
- Member of Household, Citizenship, Joint Return, Gross Income, and Support.
- Specific rules for those living in Mexico or Canada.
- Support includes items like lodging, food, clothing, and other necessities. Items not directly related to one person must be allocated across the family.
- Support does not include things like taxes, insurance, or scholarships, and may include third party support for divorced parents. Custody and agreements are used to determine one parent as providing over half of child's support
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Decedent's Return:
- Filing requirements for final return are similar to those for living individuals.
- A personal representative, surviving spouse, or other in charge of the decedent's property must file the return. Form 1310 may be needed to claim a refund.
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Estimated Tax:
- Required if expected tax liability exceeds withholding and credits and is more than $1,000. Specific percentage rules exist.
- Exceptions apply to farmers/fishermen, and certain high-income taxpayers.
- Penalties apply if estimated taxes are insufficient.
IRS Enrolled Agent Examination - Study Tips
- Use provided workbook, past exams, and IRS publications.
- Order IRS publications (available electronically also).
- Study key information (Q-cards). Practice computations without calculators.
- Prioritize computational questions and true/false questions last.
- Use common sense for Part 4.
- Focus on core tax law, not every detail. Passing rates are usually between 50% and 58%.
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Description
Test your knowledge on filing requirements and status for U.S. citizens and residents as outlined in the IRS Enrolled Agent Examination. This quiz covers the essential details regarding gross income, filing obligations, and special rules for dependents and self-employed individuals. Prepare effectively for your examination with this focused quiz.
