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Defending Estate and Gift Tax Audits

Content Provider
American Law Institute CLE
Product
CLE
Run Time
77 Minutes
Recording Date
11/26/2024
Presenter(s)
Kevin Spencer, Joseph Viviano
Learning Method
On-Demand Training
Practice Area
Estate Planning and Elder Law, Litigation
Persona
CLE OnDemand

Price $259.00

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Description

Estate and gift tax audits are on the rise. Armed with $60 billion in supplemental funding from Congress, a reinvigorated IRS and its army of new revenue agents are aggressively challenging tried-and-tested estate planning techniques. Now more than ever, estate planners need to understand the audit process and procedures for defending taxpayers in tax controversies. Register for this program and gain insights you need to prepare ironclad plans now and insights on how to defend those that will be the subject of IRS scrutiny later. This program will teach audit basics and shares the defense strategies of two esteemed tax litigators at the largest estate and tax planning law firm in the country. Tune-in for their expert insights and learn the fundamentals including: - The current state of IRS tax enforcement - The latest estate and gift tax audit trends and statistics - Best practices for reducing the risk of losing the audit lottery - Strategies for responding to and defending estate and gift tax audits - Procedures and options for resolving tax deficiencies - The gift tax exemption sunset: Gifting before the sunset and the gifts most susceptible to IRS scrutiny

Literature

State Status Total Credits Type Of Credit Approved Thru
AlabamaApproved1.00General12/31/2025
AlaskaApproved1.25GeneralOn-going
ArizonaApproved1.25GeneralOn-going
ArkansasApproved1.25GeneralOn-going
CaliforniaApproved1.25Participatory11/26/2029
ColoradoApproved2.00General12/31/2027
ConnecticutApproved1.25GeneralOn-going
DelawareApproved1.30General11/25/2026
FloridaApproved1.50General09/30/2026
GeorgiaApproved1.00General12/31/2025
HawaiiApproved1.25General11/26/2026
IdahoApproved1.25General11/25/2029
IllinoisApproved1.25General02/06/2027
IndianaApproved1.00General03/09/2026
IowaApproved1.25General11/25/2025
KansasApproved1.50General02/06/2026
KentuckyApproved1.25General06/30/2025
LouisianaApproved1.28General02/06/2026
MaineApproved1.25General03/27/2027
MinnesotaApproved1.25General03/11/2027
MissouriApproved1.50GeneralOn-going
MontanaApproved1.25General11/26/2027
NebraskaApproved1.28General11/25/2026
NevadaApproved1.00General12/31/2028
New HampshireApproved1.30General11/25/2027
New JerseyApproved1.50GeneralOn-going
New MexicoApproved1.30General11/25/2029
New YorkApproved1.50SkillsOn-going
North CarolinaApproved1.25General02/28/2026
North DakotaApproved1.25General11/26/2027
OhioApproved1.25General12/31/2025
OklahomaApproved1.50General03/09/2026
OregonApproved1.25General11/26/2027
PennsylvaniaApproved1.00General02/06/2027
Puerto RicoApproved1.28General03/16/2026
Rhode IslandApproved1.50General06/30/2025
South CarolinaPending State Response0.00
TennesseeApproved1.28General02/06/2026
TexasApproved1.25General02/28/2026
UtahPending State Response0.00
VermontApproved1.25GeneralOn-going
VirginiaApproved1.50General10/31/2025
WashingtonApproved1.25General11/25/2029
West VirginiaApproved1.54GeneralOn-going
WisconsinApproved1.50GeneralOn-going
WyomingApproved1.25General02/06/2026

Speakers