Avoiding Gift and Estate Audit Triggers: Anticipating Audit Issues, IDRs, and Appeals
Recording of a 110-minute CPE webinar with Q&A
This course will guide advisers filing gift and estate returns in understanding how to prepare for and handle IRS audits of Forms 706 and 709. The panel will also address issues to expect when appraisals are necessary, dealing with unreported gifts, and the current state of the IRS initiative in this area.
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
- Case studies
Benefits
The panel will review these and other key issues:
- How to lessen the chances of being selected for a gift or estate return audit
- Selection of appraisers and communication for the most effective valuation reports
- Complying with the all-important adequate disclosure requirements with gift tax returns
- Internal steps to prepare for 706 and 709 audits
- When to permit the extension of the statute of limitations with gift tax audits
- Hot issues that trigger estate and gift tax audits
- How to best communicate with the IRS
Faculty
Neal B. Jannol
Attorney
Law Offices of Neal B. Jannol
Mr. Jannol is a sole practitioner in Los Angeles at the Law Offices of Neal B. Jannol. He has been an attorney for more... | Read More
Mr. Jannol is a sole practitioner in Los Angeles at the Law Offices of Neal B. Jannol. He has been an attorney for more than 20 years and concentrates his practice on sophisticated estate and tax planning for individual clients, the representation of individual and corporate fiduciaries, and the administration of estates and trusts. His experience includes drafting revocable and irrevocable trusts, business succession planning, premarital planning, charitable gift planning, and all aspects of estate administration and probate procedures. He is a member of the State Bar of California and is a Certified Specialist in Estate Planning, Trust & Probate Law. Mr. Jannol earned his B.A. degree, magna cum laude, from the University of California at Los Angeles and his J.D. degree from the University of California at Berkeley, Boalt Hall School of Law.
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Emma Smith
Senior Counsel
Comiter Singer
Ms. Smith is a tax litigator with a strong technical background and a deep understanding of Internal Revenue... | Read More
Ms. Smith is a tax litigator with a strong technical background and a deep understanding of Internal Revenue Service procedural matters. She joins Comiter Singer after a 14-year career with the IRS Office of Chief Counsel, where she advised Internal Revenue Agents on matters related to domestic and international taxation and represented the IRS before the United States Tax Court.
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