Delve into the tax planning strategies available, including critical elections that can be made and how distributions to beneficiaries need to be reported.
When filing the return of a deceased person, there are many specific requirements to consider. Basic issues can quickly become complex, such as determining who will administer the estate and therefore have responsibility over all tax affairs. There are many other challenges, such as being able to determine Income with Respect to a Descendant, or IRD, and what additional tax returns may be required. Without a proper understanding of the process, deadlines could easily be missed, and tax-saving elections might not be made. Closing of the estate could linger indefinitely, resulting in penalties from the IRS and even potential litigation from creditors and beneficiaries. This presentation will help the professionals responsible for settling all tax affairs gain the knowledge necessary to understand what actions need to be done and the deadlines that cannot be missed. This includes understanding when Estate and Gift Tax returns are required. This presentation will provide an in-depth understanding of the process can the affairs of a decedent, including the preparation of the final tax return, to be timely settled in the best manner possible.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview and Administrative Issues
- Personal Considerations
- Overview of Estate Issues
- Administration Issues
Final Tax Return Form 1040
- Income
- Deductions, Credits, Taxes, etc.
- Other Tax Issues
Other Tax Information
- Estate Taxes
- Gift Taxes
- Other Tax Issues
Estate Tax Return Form 1041
- Filing Requirements
- Income, Exclusions, Deductions, and Credits
- Administrative and Other Issues
Distributions to Beneficiaries
- Income and Distributions
- How and When to Report
- Closing an Estate
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 29, 2024.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 64 Minutes.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.0
- CA MCLE 1.0
- HI CLE 1.0
- NJ CLE 1.3
- VT CLE 1.0
- WV MCLE 1.3
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Allen Pfeister, CPA, MBA, CIA, CMA, CFM
Tax Uncomplicated, LLC
- Tax consultant with Tax Uncomplicated, LLC, a boutique tax firm with a strong focus on international tax matters, offering expert services to Americans living abroad.
- Specializes in foreign business ownership, real estate investments, foreign pension participation, foreign trusts, and navigating treaty and totalization agreements
- Developed and taught the CPA preparation curriculum for Southern New Hampshire University’s South Korea campus
- Regularly hosts webinars on a wide array of tax topics for Americans abroad
- Certified Public Accountant, Certified Management Accountant, Certified Internal Auditor, and Certified Financial Manager
- M.B.A. degree with a specialization in Dr. Philip Harmelink’s taxation program, University of New Orleans; bachelor’s degree in finance and accounting; completion of Dr. Glenn Sumner’s Internal Audit program, Louisiana State University
- Can be contacted at [email protected] or (225) 999-5032
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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