Arizona's tax experts

The Arizona Society of Enrolled Agents (AzSEA) is the professional organization of Enrolled Agents in Arizona, and the Arizona affiliate of the National Association of Enrolled Agents. Enrolled Agents are the only nationally licensed tax professionals, fully authorized to represent taxpayers before the Internal Revenue Service in all states.

Enrolled Agents provide much more than just tax preparation. They are on your side for audits and tax problems. Many provide tax planning, well before the tax return is to be filed. Some provide guidance for new business start-ups and business consulting. Some Enrolled Agents offer bookkeeping, accounting, payroll services, estate planning, financial planning, or investment services.

Foremost, Enrolled agents are tax specialists. Whether for individual or business income taxes, payroll taxes, sales taxes, personal property taxes or estate taxes, look to an Enrolled Agent for a tax expert.

Tax news for Arizona EA's

2020 Inflation Adjustments announced

The IRS has announced 2020 tax rates, standard deductions and various limitations in a news release and RevProc 2019-44. Also retirement plan contribution limits in another news release and Notice 2019-59.

Tax Forum presentations online

Couln't make one of the IRS Tax forums this year? The 2019 IRS Nationwide Tax Forums presentations are now online. Plus, you can earn continuing education credits for the online programs. For details, see the IRS news release.

EA renewal fees jump Nov. 1

The renewal cycle for SSN’s ending 4, 5 or 6 began Nov. 1, and the Enrolled Agent application and renewal user fee increased from $30 to $67. Applications and renewals are electronically submitted via Pay.gov.

Also, PTIN's need to be renewed by Dec. 31 -- no charge. Renew your PTIN and check your CE credits at https://rpr.irs.gov/

IRS releases draft forms for 2019 and draft 2020 W-4 form

Draft versions of IRS forms are available at https://www.irs.gov/pub/irs-dft/ Some you may want to check out:

• 2019 Form 1040, Individual Income Tax Return
• 2019 Form 1040 Schedule 1, Additional Income and Adjustments
• 2019 Form 1065, U.S. Return of Partnership Income
• 2019 Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc
• 2019 Form 1120-S, U.S. Income Tax Return for an S Corporation
• 2019 Schedule K-1 , Shareholder’s Share of Income, Deductions, Credits, etc.
• 2020 Form W-4, Employee’s Withholding Certificate

IRS announcements & guidance

• Tax Cuts & Jobs Act (TCJA) Center
• Pub 5307, Tax Reform Basics for Individuals and Families
• 20% Qualified Business Income Deduction
• Charitable contributions and state tax credits
• Real estate safe harbor for §199A: Revenue Procedure 2019-38
• 2019-2020 Per-Diem Rates
• Virtual Currency Guidance and FAQ
• Deducting business meals: Notice 2018-76
• FAQ on 20% Deduction for Qualified Business Income
• Section 199A guidance

AZ passes conformity at last

In the “better late than never maybe” category, the Arizona legislature passed conformity to the federal tax code at the end of May. The law, HB 2757, fully conforms Arizona to the federal tax reform law retroactively to 2018. The conformity for 2018 created an estimated $155 million windfall for the state, which the state is keeping. For 2019, tax brackets and numerous other changes attempt to restore the tax situation to close what Arizona’s tax burden was before than reform conformity. For more info:

• Legislative Fact Sheet

• Joint Legislative Budget Committee Staff Memorandum

Final regulations issued for charitable contributions and state tax credits

IRS finalized the regulations for taking federal charitable contribution deductions when those contributions receive a state tax credit. The regulations provide exceptions for dollar-for-dollar state tax deductions and where tax credits of no more than 15 percent of the amount given.

Arizona raises TPT penalties

AzDOR is pushing electronic filing of TPT (sales tax) returns. There are penalties for filing a paper return and for filing late, even if a zero tax due. For more info, visit https://azdor.gov/e-services/e-services-businesses-arizona

Latest handy numbers

Where can you find mileage rates, tax brackets and AZ Standard deductions, and oodles of other juicy numbers? At the FAQ page on the AzSEA website, of course.