Wed Nov 13 PST (almost 2 years ago)
In your timezone (EDT): Wed Nov 13 2:30pm - Wed Nov 13 5:00pm
The Olympic Collection Banquet & Conference Center
11301 W Olympic Blvd, Los Angeles, CA 90064, USA
Join us as our guest speakers Lindsey Kernan, Esq. and Debra Reno, CPA review the basics of preparing a federal estate tax return (Form 706). In addition, learn about the portability of the deceased spousal unused exclusion amount, which is a fast-growing compliance opportunity for your clients; how the portability election can provide significant estate tax insurance for the surviving spouse and income tax insurance for beneficiaries; and how to complete each of the schedules, make available elections, as well as discuss the changes arising from the 2017 Tax Cut and Jobs Act.
• Recognize how to prepare each schedule to the estate tax return (Form 706) and how to present returns to minimize audit risks.
• Determine portability elections to benefit from the deceased spousal unused exclusion amount (DSUEA).
• Identify and discuss rules to deduct expenses and liabilities.
• Filing requirements, new forms and IRS return review procedures.
• Estate tax return terminology.
• Action steps upon receipt of the engagement to prepare Form 706.
• Basis consistency rules and integration with the Form 706.
• Practice tips for penalty avoidance.
• Discuss various possible reporting elections such as: Marital deduction, DSUEA portability, Sec. 6166, QTIP, reverse QTIP, QDOT, alternate value, and Sec. 2032A.
Lindsey A. Kernan, Esq.
Associate, Holland & Knight's Private Wealth Services Group
M Debra Reno, CPA
Experienced in Public Accounting and Private Industry
• Maniaci Insurance Services
• Fiduciary Trust International