Capital Gains Tax Explained
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What is the standard filing deadline for individual federal income tax returns (Form 1040)?
Ea Individuals
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Amended return deadlines
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EA vs CPA in 2026: Current Costs, Scope, Salary Data & Career Fit
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Filing Status
Individual Taxation
Flashcard
Which form is used to request an automatic 6-month extension of time to file an individual income tax return?
Nine-digit tax processing number starting with 9, issued on Form W-7 to nonresident and resident aliens, their spouses, and dependents who cannot obtain a Social Security number.
Taxpayer Data
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Part 1, Chapter 1: Tax Return Basics & Filing Requirements
1.1 Form 1040 Overview & Structure
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What is the penalty rate per month (or partial month) for failure to file a tax return on time, assuming no fraudulent intent?
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Above-the-Line Deduction
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1. Above-the-line deductions are adjustments subtracted from gross income to arrive at adjusted gross income (AGI), available to all taxpayers regardless of whether they itemize. Common examples include educator expenses,…
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Due Diligence Explained
Gross Income
Robert filed his 2025 Form 1040 on August 10, 2026, without requesting an extension. The return showed $4,000 of unpaid tax. Ignoring any reduction for the failure-to-pay penalty, what is his failure-to-file penalty?
EA Exam Pass Rate 2026: What to Know Before the SEE
Understand EA pass-rate claims, PSI scoring and Tax Year 2025 preparation for the 2026–2027 SEE. Free practice questions and study guidance.
FinCEN Form 114 filing required when a U.S. person's foreign financial accounts exceed $10,000 in aggregate value at any time during the calendar year.
Adjusted Gross Income (AGI)
1. Adjusted Gross Income (AGI) is gross income minus above-the-line deductions (adjustments to income). AGI is the key threshold used to determine eligibility for many tax credits, deductions, and phase-outs on Form 1040.
Gift Tax Explained
Which form is used to file an amended individual income tax return?
RMDs start at 73
EA Exam Study Time 2026: Hours by Part + FREE Plan
Plan 160-250 total hours for all 3 EA exam parts. Get per-part time estimates, sample schedules, and a free Enrolled Agent study plan for 2026.
A paid preparer omitted their PTIN from a client's 2025 Form 1040 that was filed in 2026. What is the penalty for each such failure?
Taxpayer's capital investment amount in property for tax purposes, used to figure depreciation, amortization, depletion, casualty losses, and gain or loss on a disposition.
Income and Assets
1.2 Form 1040-SR for Seniors
For 2025, a single taxpayer under age 65 is generally required to file a federal income tax return if their gross income is at least:
Alternative Minimum Tax (AMT)
1. The Alternative Minimum Tax (AMT) is a parallel tax system that adds back certain preference items and adjustments to regular taxable income, ensuring high-income taxpayers pay a minimum amount of tax regardless of dedu…
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Standard Deduction (Tax Year 2025)
What is the failure-to-pay penalty rate per month for taxes not paid by the due date?
How to Pass the EA Exam on Your First Try in 2026 — FREE Study Strategies & Tips
Proven strategies to pass the Enrolled Agent (EA) exam on your first attempt in 2026. Part-by-part tips, common mistakes to avoid, exam day preparation, and free study resources.
Individual retirement arrangement funded with non-deductible after-tax contributions whose qualified distributions after a five-year holding period and age 59 1/2 are tax-free.
Amended Return (Form 1040-X)
1. An amended return is filed using Form 1040-X to correct errors or make changes to a previously filed federal income tax return, such as changes to filing status, income, deductions, or credits.
An unmarried taxpayer who does not qualify as a surviving spouse generally gets the most favorable tax rates and the highest standard deduction under which filing status?
Three out of five: a protest song
Enrolled Agent vs Tax Preparer 2026: Rights & Costs
Enrolled agent vs tax preparer in 2026: IRS representation rights, AFSP, credential requirements, fees, and career paths, plus free EA exam prep.
Head of Household Requirements
Jennifer's husband passed away in January 2024. She has a 10-year-old dependent child living with her and has not remarried. What is her most advantageous filing status for tax year 2025?
Tax-exempt trust or custodial account set up with a qualified trustee to pay or reimburse qualified medical expenses for an eligible individual covered under a high-deductible health plan.
1.3 Who Must File (Income Thresholds)
To be claimed as a qualifying child dependent, the child must meet which of the following age tests?
Basis (Tax Basis)
1. Basis is the cost or adjusted value of an asset used to determine gain or loss on sale or disposition. Original cost basis includes purchase price plus improvements minus depreciation. Gift basis equals the donor's basi…
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