Enrolled Agent (EA) Exam Part 2: Businesses syllabus

 

 Enrolled Agent (EA) Exam Part 2: Businesses detailed syllabus:

Section 1: Business Entities and Considerations (28%)

  • Types of business entities: Sole proprietorship, partnership, corporation (C and S), LLC, and LLP
  • Formation, operation, and dissolution of business entities
  • Business income and expenses (deductions, depreciation, amortization)
  • Accounting methods and periods (cash, accrual)
  • Business credits and tax payments

Section 2: Business Taxation (37%)

  • Income recognition and reporting for businesses
  • Business deductions, including cost of goods sold, expenses, and special deductions
  • Depreciation and amortization (MACRS, Section 179, bonus depreciation)
  • Business credits (general business credit, R&D credit)
  • Self-employment tax and related deductions
  • Employment taxes and reporting requirements (Forms 941, 940, W-2, W-3)
  • Excise taxes and other business-related taxes

Section 3: Specialized Returns and Taxpayers (25%)

  • Taxation of partnerships (Form 1065, Schedule K-1)
  • Taxation of corporations (Form 1120 for C corporations, Form 1120-S for S corporations)
  • Nonprofit organizations (Form 990 series)
  • Estates and trusts (Form 1041)
  • International taxation (foreign income, reporting requirements, FBAR, FATCA)
  • Farmers and agricultural business taxation

Section 4: Business Representation (10%)

  • Representation rights for business clients
  • Power of Attorney (Form 2848) and Third-Party Designee (Form 8821)
  • IRS audit process for businesses
  • Appeals and collection procedures for businesses
  • Penalties and accuracy-related issues


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