New IRS Rules for Preparing 706’s

What You Need to Know to Avoid Liability, Penalties and Late Fees!

The IRS and Treasury recently released a new set of complex proposed regulations on estate tax deductions which substantially modify the regulatory provisions surrounding the deduction of claims, expenses and interest for estate tax purposes.

Any attorney or CPA reviewing and signing 706’s must take the time to fully understand the impact of these new proposed regulations. There is one new provision alone that significantly increases the practitioner’s risk when preparing or reviewing an estate tax return. Further, the regulations also provide new appraisal requirements for certain debts and claims.

This is why we have turned to three of the nation’s leading tax and estate planning experts, Jonathan G. Blattmachr, Esq., Marty Shenkman J.D., CPA, MBA, and Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA., to put together this very timely presentation entitled “New IRC 2053 Proposed Regulations: A 706 Preparer’s Job Enhancement Act”.

In this 86-minute presentation, they will cover the following:

• An overview of Section 2053 and critical legislative and regulatory history

• An overview of each type of expense the changes in the new provisions

• Will Graegin loans be relegated to the estate administration dust bin?

• Is interest expense on a Graegin loan deductible on a present value basis?

• Can you even have a related party Graegin loan or borrow from an ILIT or similar related party structure?

• Is interest deductible if the estate is illiquid because of tax planning strategies

• When is interest expense under 6161 deductible?

• When is interest on late income, gift and estate taxes deductible?

• How to protect your client’s against losing the deductibility

• How to present value expenses and claims beyond the three-year grace period

• The new appraisal requirements for debts and claims

• How to deduct a claim for a personal guarantee

• And much more!

Your purchase includes an instantly downloadable video and audio recording and PDF handout materials.  A PDF transcript is available as an add-on for an additional fee.