Estate and Gift Tax Audits: Transfers, Valuation of Assets, Formula Clauses, GRATs, Forms 3520 and 3520-A, Penalties
Recording of a 90-minute CLE/CPE video webinar with Q&A
This CLE/CPE course will provide trust and estate attorneys with an in-depth analysis of the processes and strategies for handling estate and gift tax audits, recent case law, and IRS developments. The panel will discuss key IRS audit triggers, issues stemming from hard to value asset transfers, formula clauses, and preparing tax returns. The panel will also discuss challenges with GRATs and Forms 3520 and 3520-A and offer strategies for avoiding penalties.
Outline
- Issues to expect
- Avoiding audit triggers
- Protecting the burden of proof
- Extending the statute
- The appeals process
- The current state of the IRS initiative
Benefits
The panel will discuss these and other key issues:
- What are the hot issues that trigger estate and gift tax audits?
- Complying with the all-important adequate disclosure requirements with gift tax returns
- What are the most common estate and gift tax audit triggers?
- How to lessen the chances of being selected for a gift or estate return audit
- What are the timelines, processes, and deadlines involved in an estate and gift tax audit?
- When to permit the extension of the statute of limitations with gift tax audits
- What challenges arise from the use of GRATs and other planning techniques?
- How to complete Forms 3520 and 3520-A
- How to best communicate with the IRS
Faculty
Benjamin A. Cohen-Kurzrock, JD, CPA
Attorney
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian
Mr. Cohen-Kurzrock is a corporate and securities associate in the San Diego office.
| Read MoreMr. Cohen-Kurzrock is a corporate and securities associate in the San Diego office.
Close
Lawrence M. Lipoff, CPA, TEP
Director
CohnReznick
With more than 30 years of experience, Mr. Lipoff specializes in the delivery of domestic and international private... | Read More
With more than 30 years of experience, Mr. Lipoff specializes in the delivery of domestic and international private client services to enable high-net-worth individuals and families to maximize their new or generational wealth. He provides strategic advice to his clients and their closely held businesses in the areas of income tax planning and compliance, estate planning and administration services, as well as family structure consulting. Through many years in practice, he synthesized the work of various related professionals, and their firms integrate several planning strategies into solutions that maximize value. Mr. Lipoff is a frequent lecturer and author of articles published through professional forums on topics including domestic and international - estate planning and fiduciary income taxation including constructive attribution rules for foreign trusts, Forms 3520 & 3520-A, Graegin Loans, business succession, generation-skipping transfers, Chapter 14 and carried interest estate planning for private investment fund principals, preferred freeze partnerships, and private placement life insurance.
Close