Target Audience: CPAs, EAs, Annual Filing Season Program Participants
Field of Study: Taxation (NASBA); Federal Tax/Tax Related Matters (IRS)
Seminar Level: Beginner
IMPORTANT INFORMATION REGARDING CONTINUING EDUCATION CREDIT: THE IRS ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING EDUCATION CREDIT FOR ENROLLED AGENTS (EA) AND ANNUAL FILING SEASON PROGRAM (afsp) PARTICIPANTS. Others, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT.
Note: the credit received from this seminar qualifies as continuing education that is required to obtain the voluntary AFSP – record of completion. however, this website does not offer the AFSP annual federal tax refresher (AFTR) course.
IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG
DISCLAIMER: THIS SEMINAR WAS FILMED IN New Orleans, Louisiana, ON JULY 26, 2016, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The IRS Small Business Self Employed Division presented this seminar at the 2016 IRS Nationwide Tax Forum.
This seminar will provide updates on recent developments in estate and gift tax, including
• an overview of new basis consistency requirements under H.R. 3236, requiring filing of newly created Form 8971;
• new rules for obtaining Letter 627 Estate Tax Closing Letters; and
• estate filing thresholds.
By the end of this presentation, you will be able to:
• Identify to whom a closing letter will be issued and where
• Determine Consistency of Basis requirement
• Calculate and report DSUE
• Recognize the purpose of form 4506
• Recall when the Internal Revenue Service may examine a DSUE
No prerequisites or advanced preparation are required for this seminar.