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Cheat sheet

Enrolled Agent EA Cheat Sheet

Practice QuestionsStudy Guide

Part 1 Individuals

33%of exam

FilingDependentsIncomeDeductionsCredits

Part 2 Businesses

33%of exam

EntitiesPayrollAccountingDepreciationK-1

Part 3 Representation

34%of exam

PracticeCircular 230POAResearchPenalties

Quick Facts

Exam
IRS SEE
Parts
3
Questions
100 per part
Scored
85 per part
Time
3.5 hours
Pass
105 scaled
Vendor
PSI
Law year
2025

Child Tests

Relationship, age, residency, support, joint

QC five testsQR four testsSupport matters

Extension vs Payment

Extension

  • Extends filing
  • Form 4868
  • October deadline

Payment

  • Still April
  • Interest accrues
  • Penalty possible

File later, pay now

Individual Form Picker

  1. Individual return→Form 1040
  2. Senior return→1040-SR
  3. Need filing extension→Form 4868
  4. Correct filed return→1040-X
  5. Interest/dividends→Schedule B
  6. Rentals/royalties→Schedule E

Filing Basics

Form 1040
Individual return
1040-SR
Senior return
April 15
Standard due date
Form 4868
File extension
October 15
Extended filing date
1040-X
Amended return
PTIN
Preparer ID
Due diligence
Verify reasonableness

QC vs QR

Qualifying child

  • Age test
  • Residency test
  • Relationship test

Qualifying relative

  • Gross income test
  • Support test
  • No age test

Child tests vs relative

Status + Dependents

Single
Unmarried filer
MFJ
Joint married return
MFS
Separate married return
HOH
Qualifying home support
QSS
Surviving spouse status
Qualifying child
Five tests
Qualifying relative
Four tests
Support test
Over half support

Individual Income

W-2
Employee wages
1099-NEC
Nonemployee pay
Schedule B
Interest/dividends
Schedule E
Rentals/royalties
Alimony post-2018
Not taxable
Gambling winnings
Taxable income
Cancellation debt
Possible income
K-1
Pass-through share

Deductions + Credits

Standard deduction
No Schedule A
Itemized
Schedule A
Medical floor
7.5% AGI
SALT cap
$10,000
QBI
Section 199A
CTC
Child tax credit
EITC
Earned income credit
AOC
Education credit

Property + Retirement

Basis
Tax investment
Short-term gain
One year or less
Long-term gain
Over one year
Capital loss
$3,000 limit
Section 121
Home-sale exclusion
Wash sale
Loss disallowed
Traditional IRA
Pre-tax possible
Roth IRA
After-tax contributions

Business Forms

C, 1065, 1120, 1120-S

Sole propPartnershipC corpS corp

Employee vs Contractor

Employee

  • W-2
  • Employer control
  • Payroll taxes

Contractor

  • 1099-NEC
  • Independent work
  • SE tax

Control drives status

Entity Return Picker

  1. Sole proprietor→Schedule C
  2. Partnership→Form 1065
  3. C corporation→Form 1120
  4. S corporation→Form 1120-S
  5. Trust or estate→Form 1041
  6. Exempt organization→Form 990

Entity Types

Schedule C
Sole proprietor
Partnership
Form 1065
C corp
Form 1120
S corp
Form 1120-S
Trust/estate
Form 1041
Exempt org
Form 990
LLC
State-law entity
Form 8832
Entity election

Cash vs Accrual

Cash

  • When received
  • When paid
  • Simpler timing

Accrual

  • When earned
  • When incurred
  • Matching concept

Cash flow vs rights

Accounting + Payroll

Cash method
Income when received
Accrual
Earned/incurred timing
Inventory
COGS rules
Constructive receipt
Available income
Form 941
Payroll taxes
FUTA
Federal unemployment
TFRP
Trust fund penalty
EIN
Business tax ID

Deductions + Assets

Ordinary
Common in business
Necessary
Helpful and appropriate
Meals
Usually 50%
Home office
Regular exclusive use
MACRS
Tax depreciation
Section 179
Expense election
Bonus depreciation
Accelerated recovery
Listed property
Strict substantiation

Pass-Throughs

Partner basis
Outside basis
Inside basis
Entity asset basis
Guaranteed payment
Partner service pay
At-risk
Loss limitation
Passive activity
Participation limit
S election
Form 2553
Reasonable comp
S corp wages
Built-in gains
S corp tax

SEE Parts

Individuals, businesses, representation

Part 1Part 2Part 3

2848 vs 8821

2848

  • Represent taxpayer
  • Acts authorized
  • Practitioner signs

8821

  • Receive data
  • No representation
  • Information only

Act vs view

Representation Picker

  1. Represent taxpayer→Form 2848
  2. Receive information→Form 8821
  3. Third-party designee→Checkbox authority
  4. Apply as EA→Form 23
  5. Renew EA status→Form 8554
  6. Client omission→Advise correction

Representation Rules

EA
Unlimited IRS practice
Circular 230
Practice rules
OPR
Practitioner discipline
Form 2848
Power of attorney
Form 8821
Info authorization
CAF
Authorization file
Form 23
Enrollment application
Form 8554
Enrollment renewal

Authority

IRC, regs, rulings, cases

Statute firstRegs interpretCases apply

EA vs Unenrolled

EA

  • Unlimited IRS rights
  • Circular 230
  • All taxpayers

Unenrolled

  • Limited rights
  • Prepared returns
  • Restricted matters

Unlimited vs limited

Penalty Picker

  1. Late return→Failure-to-file
  2. Late payment→Failure-to-pay
  3. Good history→FTA
  4. Facts justify→Reasonable cause
  5. Payroll trust funds→TFRP
  6. Joint-return relief→Form 8857

Research + Penalties

IRC
Highest tax statute
Regulations
Treasury interpretation
Rev. Rul.
IRS position
Tax Court
Prepayment forum
FTA
First-time abatement
Reasonable cause
Penalty defense
Innocent spouse
Form 8857
FOIA
Records request

Common Traps

Extension trap

Extends filing only ≠ Tax still due

Post-2018 alimony

Recipient excludes ≠ Payer cannot deduct

SALT cap

Itemized only ≠ $10,000 cap

2848 vs 8821

2848 represents ≠ 8821 receives data

State vs tax entity

LLC is state-law ≠ Tax election controls

Pass vs score

Pass hides score ≠ Fail shows scaled score

Last Minute

  1. 1.Each part has 100 questions
  2. 2.85 scored, 15 experimental
  3. 3.Pass = 105 scaled
  4. 4.Law year = 2025
  5. 5.Extension files, not pays
  6. 6.QC has five tests
  7. 7.LLC tax status elected
  8. 8.S corp needs wages
  9. 9.2848 acts; 8821 views
  10. 10.Circular 230 governs practice

EA Enrolled Agent

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Enrolled Agent (EA) Exam Guide 2025-2026: Comprehensive Preparation for Parts 1, 2, and 3: Review and 6 Complete Practice Questions with Detailed Explanations

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