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When Your Client Dies: Final Form 1040, Post-Death Elections and More


  • EVENT DATE:

  • PRESENTER(s): Robert Keebler

  • 1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 100 Minutes
  • Product Code::TL149



Description


Tax practitioners need special knowledge and skills when working with clients after a family member’s death. There are special tax rules associated with preparing a client’s final Form 1040 and a host of other issues and options that must be carefully addressed. Your clients need you to be at your absolute best as you support them through the necessary steps during those difficult times. The course provides a practical review of how to prepare the decedent’s final Form 1040 and advise clients on a range of essential post-death elections and decisions.


Learning Objectives:

  • Describe the tax reporting requirements for a decedent client's final Form 1040
  • State the key unique post-death elections and decisions that should be considered for a decedent client
  • Identify changes in the law resulting from the 2017 Tax Cuts and Jobs Act
  • Recognize how to accurately answer client questions regarding tax issues for a decedent

Topics Covered:

  • Preparing the Final Form 1040
  • What should be filed and reported
  • Who must file the return
  • Income, losses and deductions to be reported
  • Estimated taxes, liabilities and refunds
  • Income in Respect of a Decedent (IRD) considerations
  • Alternate valuation date
  • QTIP and QDOT decisions for the surviving spouse
  • Extending the time to pay the federal estate tax (Code Sec. 6166)
  • Elections for partnerships and S corporations
  • Where and when to deduct fiduciary commissions
  • Fiscal year option for estates
  • Disclaimer opportunities
  • Treating a revocable trust as part of the estate
  • Special distribution opportunities from an estate
  • Choices in timing charitable deduction claims

Credits and Other information:

  • Recommended CPE credit – 2.0
  • Recommended field of study – Taxes
  • Session Prerequisites and preparation: None
  • Session learning level: Intermediate
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • Attendance Requirement:  Yes
  • Session Duration: 2 Hours
  • Case Studies and Live Q&A session with speaker
  • PowerPoint presentation for reference

Who Will Benefit:

  • CPA's
  • Enrolled Agents (EAs)
  • Tax Professionals
  • Tax and Estate Planning Attorneys
  • Accountants
  • Registered Agents
  • Tax Compliance Managers
  • Other Tax Professionals
  • Finance professionals


Speaker Profile:
Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished) is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planners & Councils.  He has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession.  His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration.

Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and in estate, gift and income tax examinations and appeals, and he has received more than 250 favourable private letter rulings including several key rulings of “first impression.”  He is the author of over 100 articles and columns and is the editor, author or co-author of many books and treatises on wealth transfer and taxation.  Mr. Keebler has been a speaker at national estate planning and tax seminars for over 25 years including the AICPA’s: Estate Planning, High Income, Advanced Financial Planning Conferences, ABA Conferences, NAPEC Conferences, The Notre Dame Estate Planning Conference and the Heckerling Estate Planning Institute and is the immediate past the chair of the AICPA’s Advanced Estate Planning Conference, serving in that capacity from 2014-2020.

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