Tax

What are the effects of Forms 706 and 709 on Form 1041? This session will look at a sample completed Form 1041 and pinpoint areas of interest.
Originally presented as part of Gift & Estate Tax Workshop: Forms 709, 706 & 8971 2025.

Learn about the areas of overlap and differences between federal and Illinois estate tax law. Learn about challenges you might face if you have no federal estate tax but have an Illinois estate tax. The discussion will also include issues with establishing or changing domicile, structuring an estate plan to minimize Illinois estate tax, and questions you should ask your clients to avoid future Illinois estate tax problems.
Originally presented as part of Gift & Estate Tax Workshop: Forms 709, 706 & 8971 2025.

This session will give you some general advice on post-death tax planning, including information to help you with formal elections and estate administration decisions. Materials will include a checklist of elections and decisions to aid you in this process. Finally, there will be a discussion on using disclaimers.
Originally presented as part of Gift & Estate Tax Workshop: Forms 709, 706 & 8971 2025.

Basis consistency (IRC §1014(f)) and new reporting requirements with regard to property the value of which is included in a decedent’s gross estate for federal estate tax purposes to be reported to the IRS on Form 8971 and provided to the recipients of the property on Schedules A (IRC §6035) were enacted July 31, 2015. This presentation will overview these new Code sections, the pending Proposed Regulations (and final regulations if issued prior to the presentation), and the new Form 8971 and Schedule A.
Originally presented as part of Gift & Estate Tax Workshop: Forms 709, 706 & 8971 2025.

This presentation will include a timeline for the estate tax return preparation process, a list of information to gather from the client, tips on preparing schedules for different types of assets, valuation issues, and a typical computation for the marital deduction. A sample estate tax return will also be presented based on the day’s hypothetical, including common elements in the estate of a second-to-die spouse.
Originally presented as part of Gift & Estate Tax Workshop: Forms 709, 706 & 8971 2025.

We will walk step-by-step through the basics of federal gift tax preparation, including calculation of tax due, gift tax splits, and filing procedure and deadlines. Sample forms will be discussed.
Originally presented as part of Gift & Estate Tax Workshop: Forms 709, 706 & 8971 2025.

Complete this workshop style program to get equipped with the practical skills needed to accurately complete key federal gift and estate tax forms, including Forms 709 and 706. You'll also receive instruction on Forms 8971 and 1041, postmortem tax planning strategies, and relevant aspects of Illinois estate tax law. Using a detailed hypothetical, you'll be able to review forms and calculations, ensuring a thorough understanding of these complex filings. Prepare to dive into the details.

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In this insightful program, Meaghan Figg demystifies state and local taxes (SALT), as well as some important Illinois tax updates. If your clients are expanding, or are already multi-state, this session equips you with the knowledge and tools to help them keep their business protected and optimized.

This course explores the pivotal U.S. Supreme Court case Tyler v. Hennepin County, which has significant implications for property tax enforcement in Illinois and beyond.

This course explores estate tax planning considerations when advising clients on how to structure estate plans to maximize tax planning efficiencies. Learn to navigate the maze of estate tax planning at the federal and state level with modified funding formulas, annual gifting and lifetime gifting.

Upcoming sunsetting of provisions of the 2017 Tax Cuts and Jobs Act is quickly approaching. This course can help you identify which clients this will affect and how. It provides insight into how to navigate the complexities of the 2024 election year and various changes in tax treatments.

This updated and expanded resource for attorneys of all skill levels provides comprehensive guidance about the Illinois Property Tax Code and associated statutes in addition to practical assistance in maneuvering the Code.