Wisconsin Society of Enrolled Agents
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Welcome to the Wisconsin Society of Enrolled Agents!


WSEA was founded in 1985 by a group of 25 Charter Members.  We are proud to be celebrating 25 years of serving the tax community in a professional and exemplary way.
The goal of WSEA is to foster the professional growth of it's members; to be an advocate of taxpayer rights; to enhance the roll of the Enrolled Agent among government agencies, other professions and among the public at large, and to protect the interest of it's members. 

Welcome!
WSEA would like to officially welcome their new Executive Director, Lawrence "Lorry" Stein.  As of October 1st, 2012, Lorry will be planning all of WSEA's upcoming events.
Good Luck and we look forward to seeing you at seminars!


American Taxpayer Relief Act of 2012 (H.R. 8)

The following are some (not all) key tax items in this Act:

New Items:
  • New 39.6% tax bracket for taxpayers whose taxable income is over $450,000 (MFJ), $425,000 (HOH), $400,000 (S) and $225,000 (MFS)
  • New 20% capital gain and qualified dividend tax rate for the same taxpayers listed above.

"Permanent Changes"
  • Child Tax Credit of $1,000 per qualifying child
  • Adoption Credit retained
  • Dependent Care credit of $3,000 for one qualifying child and up to $6,000 for 2 or more
  • Student Loan Interest Expense Deduction remains without first 60 month repayment limitation
  • AMT exemption has been updated and permanently indexed for inflation.  2012 rates are $78,750 (MFJ), $39,250 (MFS) and $50,600 (S & HOH)
  • Capital gain and qualified dividend rate of 0% and 15% for taxpayers in lower tax brackets.
Some other items extended:
  • Mortgage Insurance Premiums deductible through 2013
  • American Opportunity Tax Credit extended through 2017
  • Additional Child Tax Credit extended through 2017
  • Higher EIC for taxpayer with 3 or more children extended through 2017
  •  Bonus Depreciation of 50% extended through 2013
  • Exclusion from income of qualified personal residence cancellation of debt extended through 2013
  • Tuition Deduction has been extended through 2013
This bill did NOT renew the 2% Social Security reduction for Employees and the Self-Employed.  2013 rate for Social Security deduction for payroll purposes is 6.2%. SE tax returns to 15.3%.

Full text of the bill can be found at thomas.loc.gov under Bill Number search enter H.R. 8.
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Wisconsin Society of Enrolled Agents
Executive Director's Office
5629 W. North Ave
Milwaukee, WI 53208
Phone: (920)686-1040
Fax: (414) 445-2779
E-mail: wsea@tm.net

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