Passkey Learning Systems

01/07/2024

July dates for our live EA Study Sessions are posted! If you have a HOCK international subscription, with Nicole Ramos, EA!

Attention to all future Enrolled Agents (EAs)! July Live EA Study Sessions will take place on the following dates:

▶️ Wednesday, July 3 @ 7:00 p.m. US Eastern (Part 3)
▶️ Wednesday, July 10 @ 7:00 p.m. US Eastern (Part 1)
▶️ Saturday, July 20 @ 11:00 a.m. US Eastern - (Part 1 and Part 2)
▶️ Wednesday, July 24 @ 7:00 p.m. US Eastern (Part 2)
▶️ Wednesday, July 31 @ 7:00 p.m. US Eastern (Part 3)

Our Study Sessions follow a discussion format where students dive into multiple-choice questions and learn how to apply tax law to arrive at the correct answers. This hands-on approach ensures active engagement and deep understanding of the subject matter.

As long as you have an active HOCK EA subscription (Standard or Premium) or free trial, you can access participate in sessions. No registration is necessary!

https://www.hockinternational.com/shop/ea-exam-review/

11/06/2024

WEBINAR: Explore the advantages and career prospects of becoming an EA

Join us for an insightful webinar on the Enrolled Agent (EA) designation. This session will cover everything you need to know about becoming an EA, including eligibility requirements, exam structure, study tips, and more.

Date: June 22nd
Time:
US: 8:00 am Pacific / 10:00 am Central / 11:00 am Eastern
UAE: 7:00 pm
India: 8:30 pm
Hosts: Brian Hock and Christy Pinheiro

Webinar Topic: Why Become an Enrolled Agent (EA)? Explore the advantages and career prospects of becoming an EA.

This session will cover:
☑ Introduction to the EA designation
☑ Who should become an EA
☑ Eligibility requirements
☑ Exam structure and syllabus
☑ Study tips and HOCK study materials
☑ Success stories from HOCK students
☑ Career prospects for EAs

Don't miss this opportunity to learn everything you need to know about becoming an EA and how it can boost your career in tax preparation and representation.
👉 Learn more and register here:

Site MenuExam PrepCMA – Certified Management AccountantCSCA – Strategy and Competitive AnalysisFMAA – Financial & Managerial Accounting AssociateEA – Enrolled AgentCIA – Certified Internal AuditorCFA Level 1 – Chartered Financial AnalystESG Investing – Environmental, Social, Governance...

06/06/2024

Attention to all future Enrolled Agents!

LIVE June EA Study Sessions will take place on the following dates:

▶️ Sat. June 8 @ 11:00 a.m. US EST (Part 2)
▶️ Wed. June 12 @ 7:00 p.m. US EST (Part 3)
▶️ Wed. June 19 @ 7:00 p.m. US EST (Part 1)
▶️ Wed. June 26 @ 7:00 p.m. US EST (Part 2)

Our EA Study Sessions follow a discussion format where students dive into multiple-choice questions and learn how to apply tax law to arrive at the correct answers. This hands-on approach ensures active engagement and deep understanding of the subject matter.

As long as you have an active HOCK EA subscription (Standard or Premium) or free trial, you can access participate in any live sessions. If you don't have an active EA subscription but would like to participate in Study Sessions, click on the link below to find out more:

https://passkeyonline.com/study-online

Jump-Start your new tax career!

20/04/2024

The PassKey EA Review Textbook and Workbook for PART 2, BUSINESSES, are both now available on Amazon! Pass the enrolled agent exam and jump-start your tax career! https://amzn.to/4b0GxqU

Visit Amazon's PassKey EA Review (May 1, 2024 - February 28, 2025 Testing Cycle) Page and shop for all PassKey EA Review (May 1, 2024 - February 28, 2025 Testing Cycle) books. Check out pictures, author information, and reviews of PassKey EA Review (May 1, 2024 - February 28, 2025 Testing Cycle)

12/04/2024

JumpStart Your Tax Career! The Official PassKey EA Review Textbook and Workbook for PART 1, INDIVIDUALS, are both now available on Amazon!

Visit Amazon's PassKey EA Review (May 1, 2024 - February 28, 2025 Testing Cycle) Page and shop for all PassKey EA Review (May 1, 2024 - February 28, 2025 Testing Cycle) books. Check out pictures, author information, and reviews of PassKey EA Review (May 1, 2024 - February 28, 2025 Testing Cycle)

05/03/2024

Our updated Prometric Updates video and Tax Law Updates for Individuals video went live this morning on HOCK international; we will be uploading new EA Review content every day from now on. https://www.hockinternational.com/shop/ea-exam-review/

02/03/2024

Prometric has released the new EA Exam candidate bulletin for the SEE testing cycle that begins on May 1, 2024.

The GOOD News: The 3-year carryover period has been extended, so exam candidates will have up to three years to pass all three parts of the exam after they pass their first part. Scheduling is open for the next testing cycle that begins on May 1, 2024.

The BAD news: The testing fee has increased to $259 for each part of the examination.

Schedule your exam here: https://www.prometric.com/test-takers/search/irs

01/03/2024

COVER REVEAL: New PassKey EA Review 2024-2025 editions are coming soon! See more details and official EA Exam content release dates here: https://www.hockinternational.com/shop/ea-exam-review/

12/02/2024

Join us for Our Upcoming Live EA Study Sessions:

-Saturday, February 17th at 11:00am US Eastern Time (Part 1)
-Thursday, February 22nd at 7:00pm US Eastern Time (Part 2)

https://www.hockinternational.com/ea-exam/ea-exam-study-sessions/

18/01/2024

Attention to all present and aspiring enrolled agents! If you are contemplating the coveted enrolled agent designation (or seeking an alternative to the CPA exam), be sure to join Brian Hock, CMA, CIA, CSCA, CRMA and Timalyn Bowens EA next week! They will be discussing the EA exam and opportunities for professional growth as an EA. Don't miss out! They will be live on LinkedIn Jan 24, 2024
https://www.linkedin.com/events/thehockinternationaleareviewsys7153599891083087872/theater/

28/12/2023

Mark your calendars! Upcoming Live EA Study Sessions for January 2024:

-Thursday, January 4th at 7:00 pm US Eastern Time (Part 1)
-Saturday, January 13th at 11:00 am US Eastern Time (Part 2)
-Thursday, January 18th at 7:00 pm US Eastern Time (Part 3)
-Thursday, January 25th at 7:00 pm US Eastern Time (Part 1)

https://www.hockinternational.com/myst.../ea-study-sessions/

14/12/2023

Attn: Tax Pros! Need a last-minute 2-hour ethics course? The IRS is hosting one 12/19/23. Sign up if you still need to get your ethics requirement for the year! https://www.webcaster4.com/Webcast/Page/1148/49583

17/11/2023

Free CE Course for tax professionals, IRS Presenting: Thursday, *November 30, 2023.*

IRS in Partnership with the Security Summit presents Developing a Written Information Security Plan, WISP

This webinar will:
-Explain the FTC Safeguards Rule
-Explain a tax professional’s obligation to protect taxpayer data
-Identify the basic steps to data security
-Outline how to create a Written Information Security Plan (WISP)
-Describe signs of data theft
-List the steps to take if you are a victim of a data breach
-Plus, a live Q&A

All participants who qualify will receive a Certificate of Completion. Tax Professionals - Earn up to 1 CE Credit. Category: Federal Tax.

https://www.webcaster4.com/Webcast/Page/1148/49440

19/09/2023

A warning to tax pros out there. DO NOT attach a LATE S election to an e-filed return.

So far, in the last 12 months, we have heard dozens of horror stories of late elections not being processed correctly, or not being processed at all. The problem seems to be on the IRS side, but remember that with a late election, you are essentially at the IRS' mercy.

If you are planning to file a late S election, our recommendation is to file on paper and follow the explicit instructions in the Rev Proc!

You must write in bold letters, on the Form 2553: "FILED PURSUANT TO REV. PROC. 2013-30." The Form 1120S must ALSO state at the top of the first page: “INCLUDES LATE ELECTION(S). FILED PURSUANT TO REV. PROC. 2013-30” Highlight these statements!

And mail the "late election package" using USPS certified mail, before the unextended deadline.

Once you do this, do not file the return away, keep it in your pending files, until you receive the Notice of Acceptance (that's form CP261). This letter needs to be scanned and goes in the client's permanent file, just like the incorporation paperwork. You need to keep a copy, too, for as long as the corporation is in existence. This is the procedure if you can't get the Form 2553 in on time.

As for proof, the examples below are just a handful of the ones we have seen this year. You've been warned!

15/09/2023

FREE 1 hour CE course Wednesday, October 4, 2023, from the IRS! Learn about Beneficial Ownership with the FinCEN. https://www.webcaster4.com/Webcast/Page/1148/49037

16/08/2023

What happens when the IRS thinks you're dead... but you're really not?

This is called a "deceased lock" and it makes it impossible for the the taxpayer to file their return or get a refund; their accounts are frozen. And this isn't a rare occurrence. According to a recent TIGTA report, almost 100,000 (yes, really) taxpayers have incorrectly been flagged as deceased. Taxpayers are often left floundering in the wind. This excellent Kiplinger article discusses the problem of incorrect "deceased locks" and what you can do as a tax professional to help taxpayers who may be affected by this error.

A new report says the IRS placed 'deceased locks' on accounts of more than 90,000 taxpayers who were very much alive.

21/07/2023

FREE 2 hour CE webinar from the IRS Stakeholder on the Employee Retention Credit on Tuesday, July 25, 2023. Enrolled practitioners can earn 2 hours of CE. https://www.webcaster4.com/Webcast/Page/1148/48635

19/05/2023

What do you think the answer is?

📣 Get ready for the EA (Enrolled Agent) Exam Knowledge Check! 📚 Today's question comes from Part 1, Section 1.

💬 Share your answer in the comments below.
💡 Don't forget to visit us tomorrow for the correct answer explanation.
🌐 Join the Free EA Exam MCQs group for a new question every day: https://www.facebook.com/groups/789554445715835

13/01/2023

IRS efile for individuals begins January 23, 2023!

IR-2023-05, January 12, 2023 — The Internal Revenue Service today announced Monday, January 23, 2023, as the beginning of the nation's 2023 tax season when the agency will begin accepting and processing 2022 tax year returns.

01/01/2023

Happy New Year, everyone! All of us at Passkey Learning Systems sincerely hope that 2023 will be your best year, filled with happiness, success, and prosperity!

30/12/2022

License renewal is easy to forget during a busy tax season. Never miss your EA license renewal. This is from Publication 5186, a very handy reference.

23/12/2022

IR-2022-226, December 23, 2022 — The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season.

23/12/2022

The Secure Act 2.0 has passed. Increases the age for mandatory RMDs from age 72 to age 73 starting in 2023, and to age 75 starting in 2033.

Congress passed the SECURE 2.0 Act, which has been sent to the President for his expected signature. Highlights of the 358-page SECURE 2.0 Act include the items listed here, plus many more retirement-related provisions. The SECURE 2.0 Act: Increases the age for mandatory RMDs from age 72 to age 73 s...

16/12/2022

Congratulations Angelica Bergman on passing all three parts of the EA Exam, right before the holidays! You'll be an EA before the next tax season!

13/12/2022

Some excellent links on how to create a WISP (AKA, Written Information Security Plan) which is now required by the IRS for all tax professionals. Make sure you take care of this before the beginning of the next tax season (psst... there's a sample plan you can use as a template in Pub 5708, one of the links below!)
*Pub 7508 (SAMPLE PLAN starts on Page 5):https://www.irs.gov/pub/irs-pdf/p5708.pdf

*Simple Guide to Creating a Data Security Plan from TaxAct Pro:
https://proadvance.taxact.com/your-guide-to-creating-a-data-security-plan/

Creating your data security plan does not have to be difficult. Let TaxAct Professional help walk you through this process!

12/12/2022

Ran Chen explains how he passed all three parts of the EA Exam with PassKey in 40 days (check out Ran's fantastic charts!). You can read more stories like this in our EA Exam study forum! https://www.passkeyonline.com/group_forum

01/12/2022

Attention Tax Pros! Business efile (Forms 1120, 1065, 1120-S, etc.) shuts down December 26, 2022. Scroll to the bottom of the page to see the update.

Modernized e-File (MeF) provides electronic filing and payment options for filers of Corporation, Employment Tax, Estates and Trusts, Excise Tax, Exempt Organization, Individual, and Partnership Tax Returns.

23/11/2022

PassKey Learning Systems wishes everyone a very happy holiday weekend! We will have limited availability for support requests Thursday through Sunday, but will still answer emails. We hope you all have a wonderful day with family and friends!

21/11/2022

Congratulations Antoinette Hart on your well-deserved success! You're an inspiration!