Nov 27, 2012

Reasons Why You Should Love Enrolled Agents: Jeffrey A. Schneider, EA

Just in case you didn't know.... Enrolled agents (EAs) are America's Tax Experts. EAs are the only federally licensed tax practitioners who specialize in taxation and also have unlimited rights to represent taxpayers before the IRS.

Jeffrey A. Schneider, EA thought you may want to know about this:

A Lawyer's Mistake Costs $1 million

Special rules allow an estate to pay its taxes on an installment basis without penalty. However, the request for an extension of time to pay those taxes must be filed when the estate tax return is due, even if the amount of taxes cannot be determined. Not doing so can result in penalties and interest. This was the situation in Est. of Thouron v. U.S., 2012 PTC 291 (E.D. Pa. 11/7/12). The fact that the attorney hired by the estate to oversee its tax compliance did not recognize this did not excuse the estate from the non-filing. As a result, the estate was hit with penalties and interest of $1 million and its' claim that it had reasonable cause for not filing the extension to pay because it relied on a professional was rejected.

Who is Jeffrey A. Schneider, EA?

Jeffrey A. Schneider, EA, CCPS (Certified College Planning Specialist) ,CDFA (Certified Divorce Financial Analyst) has been working in the field for well over 30 years, with clients throughout the country. He currently serves as the President Elect of the Florida Society of Enrolled Agents, (FSEA), is a Graduate Fellow of the National Tax Practice Institute (NTPI) and is a Past President of the Palm Beach Chapter of the Florida Society of Enrolled Agents. He also serves on the Government Relations committee of the NAEA, National Association of Enrolled Agents.

How can I contact Mr. Schneider?

 Learn more about Mr. Schneider by visiting his company's website at

How can I learn more about Enrolled Agents?

I would recommend to visit the National Association of Enrolled Agents' (NAEA) website located at

1 comment:

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