N. Introduction to the Federal Income Tax Issues of a Decedent's Final Form 1040, the Estate, and the Survivors
IRS: Federal Tax Law Topics 2 CPE
CTEC: Tax Law 2 CPE
NASBA: Taxes 2 CPE
This course introduces the Tax Professional to the Federal Income Tax Issues involving the death of an individual taxpayer. It discusses the requirements for filing a "final Form 1040"and introduces the accounting required for "Income in Respect of a Decedent" IRD and "Deductions in Respect of a Decedent" DRD. This course will include the importance of choosing the proper filing status for the year of death and elections available to the personal representative for the "final Form 1040". It will discuss the tax implications of account balances after death for IRAs, HSAs, etc. and the tax issues of an Estate and Survivors.
At the completion of this webinar, the Tax Professional will be able to:
• Identify the important tax issues for preparing the final Form 1040 of a decedent
• Advise the personal representative of a decedent on the special elections available on the final Form 1040 as well as advice to the surviving spouse and the unique issues involved
• Advise the personal representative of a decedent on the issues involved for non-spouse beneficiaries of the decedent
• Introduce the personal representative to the requirements for filing an Estate or Trust Fiduciary Income Tax return Form 1041 and the impact, if any, on the beneficiaries
- Each participant must answer the poll questions during the webinar in order to be awarded CE credits failure to do will result in no CE credits per National Association of State Boards of Accountancy (NASBA) CE program standards.
It is vital that each individual taking the webinar register under their own name and email. The webinar link will be sent to the email of the registrant. Because the links are unique for each email address, they will not work if forwarded to another email address.
Cancellation: NSTP reserves the right to cancel any program or course for circumstances that are not under direct control of NSTP. If a course or program is canceled, participants will be refunded 100% of their registration fee.
Refunds, Cancellations, Complaints
For more information regarding refund, cancellation and complaint policies, please contact our office at 800-367-8130.
Webinars are Interactive Visual and Audio Presentations
Each participant must answer the poll questions that appear on the screen during the webinar: failure to do so will result in no credits being awarded for that webinar.
There is no support to earn webinar CE by listening on a phone only.
Webinar Audio Troubleshooting
Keep all electronic handheld devices, such as Blackberries or cell phones, away from microphones and speakers.
A USB headset is recommended. If you are hearing an echo, try the following:
- If using speakers for sound, reduce your speaker volume to a low level and keep your microphone away from your speakers
- If you think the echo is from an attendee, see who is speaking and ask them to lower their speaker volume or alternately you can mute that attendee’s sound
- If joining via telephone, make sure the audio setting on your Control Panel is not set to mic & speakers
- Check to see if your built-in laptop microphone is turned off. If not, turn it off– built-in mics can cause echoes
- If your webcam mic is on, turn it off – webcam mics can also cause echoes
- If using a microphone, move it closer to you and away from sound-generating devices (computer fans, speakers, etc.)
- Do not move or touch the microphone, especially when speaking
If there are delays, words are dropped or you hear robotic sounds:
- This is often due to poor network performance, lack of memory or high CPU usage
- Close all applications, tabs, programs you are not using for the presentation
- Dial-up Internet connections are inherently slow and can cause problems
- Broadband Internet connections are recommended
- If problem persists, switch to telephone and dial in to the meeting. You must select “Telephone” in the Audio pane to do this.
Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author,the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual's reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials and during the seminar presentation before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any particular device, technique or suggestion before recommending the same to a client or implementing the same on a client's or on his or her own behalf.