New 1041

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Tax Preparers have been struggling with the complexities of filling out Form 1041. The Knowledge Group recently ran a webcast which discussed theory, policy impact, as well as some of the technical details of the form. Based on requests from the audience, we are producing a new webcast which will focus 100% on how to complete the form via a line-by-line walkthrough. Our panel of expert tax professionals will guide you through the form helping you to navigate the difficult sections with ease.

The New Form 1041: A Line-by-Line Walkthrough LIVE Webcast Is a must attend event for all tax preparers who have to fill out this form. In addition to the line-by-line walkthrough, our team of experts will take live questions from the audience. Attendees who register in advance will receive a complimentary recording of the previous webcast: Form 1041: How to Prepare an Accurate Form for Tax Professionals originally aired on July 8th, 2009.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 1.75 - 2.0
Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.
Advance Preparation: Print and review course materials
Course Code: 093910
Recording Fee: $199 - $299 (Please click here for details)
NASBA Sponsor Number: 109004

 

Featured Speakers for The New Form 1041: A Line-by-Line Walkthrough live webcast:


Proposed Agenda (click here to view more)
SEGMENT 1:


Rosemarie C. Steeb, Executive Director, Personal Financial Services,
Ernst & Young LLP

– Characteristics of grantor and non-grantor trusts
– Types of grantor trusts and their filing requirements
    – Intentionally Defective Grantor Trust
    – Grantor Retained Annuity Trust
    – Qualified Subchapter S Trust (QSST) v. Electing Small Business Trust (ESBT)
    – Qualified Personal Residence Trust
– Multistate tax considerations
    – residency issues
    – sourcing and allocation issues
    – adjustments and modifications

SEGMENT 2:


Daniel Cirola, Senior Tax Manager,
Eisner LLP

- What is a Trust and How and Why is it Created?
- Common Fiduciary Terms
- 1041 Line by Line Walk Through
- Taxation of Trusts
- What is new for 2009

SEGMENT 3:


Michael M. Mariani, Managing Director, Deputy General Trust Counsel and Director of Trust and Estate Services,
Fiduciary Trust Company International

Elections Available to the Personal Representative on the Form 1041:
- Selection of the tax year;
- Treating a Qualified Revocable Trust as part of a decedent’s estate for Federal income tax
   purposes - IRC Section 645;
- Treatment of property distributed in kind - IRC Section 643(e);
- The 65 day rule – IRC Section 663(b); and
- Selection of the final tax year.

SEGMENT 4:


Jacqueline A. Patterson, Esq., Founding Partner,
Haney, Buchanan & Patterson, LLP

- Regarding fiduciary accounting and the distribution deduction
    - Fiduciary Accounting Income versus Trust Taxable Income;
    - The Calculation of DNI and the Distribution Deduction;
    - The interrelationship between tax and accounting income; and
    - The impact of the “power to adjust” and unitrusts on DNI.


Ernst & Young LLP
Rosemarie C. Steeb
Executive Director, Personal Financial Services
speaker bio »»

Eisner LLP
Daniel Cirola
Senior Tax Manager
speaker bio »»

Fiduciary Trust Company International
Michael M. Mariani
Managing Director, Deputy General Trust
Counsel and Director of Trust and Estate Services
                       speaker bio »»

Haney, Buchanan & Patterson, LLP
Jacqueline A. Patterson, Esq.
Founding Partner
speaker bio »»

Who Should Attend?

- Tax Preparers
- CPAs
- Accountants
- Enrolled Agents
- Tax Lawyers
- Estates and Trusts practicing Attorneys
- Tax Consultants

Why Attend?

This is a must attend event for all tax professionals to hear the detailed discussion from experts on how to accurately prepare Form 1041
- Detailed guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Registration Information:                                                                                                                                    


 

 

 

 


The New Form 1041: A Line-by-Line Walkthrough LIVE Webcast
Speaker Firms:



Eisner LLP




Haney, Buchanan & Patterson, LLP





 

The Knowledge Group, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org


 

We are an approved multi-event sponsor in the state of California. Our provider ID is: 14451. In Texas, Illinois, and Virginia, we submit programs for individual approval in advance. In all other states, once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations. Our programs are created with continuing education in mind and are therefore designed to meet the requirements of all State Bar Associations. If you have any questions, please email our CLE coordinator at: info@knowledgecongress.org

Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.

Attention New York Attorneys:

This program is approved for CLE credit under New York’s Approved Jurisdiction policy. The Knowledge Group, LLC is an approved sponsor in the state of California, a New York Approved Jurisdiction. This program fulfills the non-traditional format requirement of exceeding 60 minutes in length. Please note only experienced attorneys (more than 2 years) are eligible to receive CLE credit via non-traditional format learning platforms. The Knowledge Group will verify attendance during the webcast via secret words (3 per credit hour) and by auditing attendees log in and log out records. All verification instructions will be provided during the webcast. Once attendance verification requirements have been completed, the attendee will be issued a certificate of attendance be The Knowledge Group for the course with the recommended number of credit hours. The Certificate of Attendance is normally sent via email in 24 hours or less.

To Claim Your CLE Credits:

The attorney should simply include credits earned via Knowledge Group webcasts when computing the total number of CLE credits completed, and keep the Knowledge Group Certificate of Attendance for a period of at least four (4) years in case of audit. An attorney may count towards her/his New York CLE requirement credit earned through the Approved Jurisdiction policy without notifying the CLE Board.

To learn more about New York’s Approved Jurisdiction policy. Please visit: http://www.nycourts.gov/attorneys/cle/approvedjurisdictions.shtml



 
Enrolled Agents Sponsor ID Number: 760

We have entered into an agreement with the Office of Professional Responsibility, Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the Office of Professional Responsibility as to the quality of the program or its contribution to the professional competence of the enrolled individual.