Estate Basis Reporting Requirements Update

Webinar: ID# 1026403
Recorded CD
About This Course:
This webinar will highlight the new rules regarding consistent basis reporting between estates and beneficiaries, including a review of new Section 1014(f) dealing with how to determine the final value of assets for estate tax purposes and Section 6035 dealing with the filing of new Form 8971 with the IRS and beneficiaries, including the determination of which assets must be reported and which assets are excluded from reporting under the temporary regulations.


IRC Section 1014(f) – New Basis Consistency Rules
  • How to Determine the Final Value of Assets
  • How to Avoid Possible Traps Resulting in Underpayment Penalties
  • What the Controversial "Zero-Basis Rule" Means to Your Client
IRC Section 6035 – New Reporting Requirements
  • How to Determine If You Need to File Form 8971
  • How to Complete Form 8971
  • How to Determine If Supplemental Filings Are Needed
  • How to Determine Which Assets Need to Be Reported
  • How to Complete Schedule a for Beneficiaries
  • What the New "Subsequent Transfer" Rules Mean to Your Client
Sections 6662(k) and 6724(d)(1)(D) Penalties
  • When Will Penalties Apply?
  • How to Establish Reasonable Cause to Avoid Penalties
Legislative Update
About The Presenter

Jordon Rosen, CPA, MST, AEP®
  • Director and shareholder in the Wilmington, Delaware CPA firm of Belfint, Lyons & Shuman, P.A. where he heads the firm’s estate and trust practice
  • Also provides tax consulting and compliance services to the firm’s higher net worth clients and business owners
  • Past president of the National Association of Estate Planners and Councils (NAEPC) and has served as president of the Delaware Estate Planning Council and the Chester County, PA Estate Planning Council
  • Also the past Chair of the Tax Committee of the Delaware State Chamber of Commerce, is a member of the AICPA Trust, Estate and Gift Technical Resource Panel and is a member of the editorial board of Thomson Reuters Focus publication
  • A licensed CPA in Delaware and Pennsylvania and is a member of the Pennsylvania Institute of CPAs, Delaware Society of CPAs and the AICPA Tax Section
  • Holds the designation of Accredited Estate Planner and has been recognized as a 5-Star Wealth Manager by Philadelphia magazine and Delaware Today
  • Frequently sought out speaker both locally and nationally on tax planning and related issues and has published more than 100 articles
  • Has been a frequent television and radio guest and a past host of Money Talk on 1450-WILM
  • Master’s degree in taxation, Widener University; undergraduate degree in accounting, Temple University
Estate Basis Reporting Requirements Update
Available on CD format
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