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Live Webinar

100-minute live streaming program
  • October 27
  • 1:00 - 2:40 pm EST

Special Tax Considerations for Senior Citizen Clients

October 27

Learn about tax issues for seniors and the interrelationship between estate and tax planning so that you may better advise your clients.

Many tax topics and issues are not unique to senior clients yet impact them significantly. Other tax topics and issues truly are unique to senior clients. This topic will address many different topics with the goal of making you better versed on a broad range of topics; many of which are often either not frequently addressed or are frequently missed.

Learning Objectives

  • You will be able to discuss practical IRS issues for seniors.
  • You will be able to define offshore financial accounts.
  • You will be able to recognize the interrelationship between estate and tax planning and Medicaid/government benefits planning.
  • You will be able to review basis issues in planning and why newer tax law makes planning even more critical.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

COVID-19 and the End of 2020 - Selected Topics and Updates
  • Exact Topics to Be Selected Based on Current Circumstances
Practical IRS Issues for Seniors
  • Use of Form 56
  • Obtaining Information From the IRS
  • Tax Procedure and Scam Challenges
  • Where Is Your Client's Tax Refund?
  • Should Your Client File a Tax Return?
Offshore Financial Accounts
  • It Is Not Uncommon for a Senior Client to Have Undisclosed Offshore Financial Accounts - Learn What You Should Ask the Client
  • Learn Some of the, Sometimes Surprising, Basic Reporting Requirements
  • Understand Some of the Challenges Caused by Non-Reporting
Interrelationship Between Estate and Tax Planning and Medicaid/Government Benefits Planning
  • Review Why Certain Tax and Estate Planning Can Interfere With Medicaid/Government Benefits Planning
Surrendering - Tax Implications of:
  • Surrendering an Annuity
  • Surrendering Life Insurance
  • Surrendering U.S. Savings Bonds
Miscellaneous Income Tax Issues
  • Senior and Disabled Persons Special Tax Provisions
  • Income Tax Returns of Sick or Disabled Persons
  • Alternative Medical Treatment
  • Sale of a Home
Don't Forget Other State's Tax Issues
  • Selected Income Tax (and Estate and Gift Tax) Traps
RMD and Charity
SECURE Act Tips and Traps
Immediate Pre-Mortem Tax Planning
Basis - the Old and New Elephant in the Room
  • A Review of Basis Issues in Planning and Why Newer Tax Law Makes Basis Planning Even More Critical
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CPE 2.0 including Taxes 2
     
  • Lorman Education Services 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 submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.0 hours. Prerequisite: basic knowledge of general accounting. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for accountants, CPAs, CEOs, presidents, vice presidents, CFOs, controllers, business owners and managers, bookkeepers, tax preparers, and enrolled agents.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Michael A. Lampert

Michael A. Lampert

Law Offices of Michael A. Lampert, PA

  • A board-certified tax lawyer in West Palm Beach where he concentrates his practice in the areas of tax, estate planning and administration, with an emphasis on tax controversy matters
  • He is past chair of the Florida Bar Tax Section, and is its 2020-2021 recipient of the Tax Lawyer of the Year Award
  • He is past president of the Palm Beach Tax Institute and is currently serving as vice chair of the Florida Bar Tax Law Certification Committee
  • He is a fellow of the American College of Tax Counsel, a member of the South Florida Tax Litigation Association, a past chairman of the Palm Beaches - Treasure Coast Region Chapter of the American Red Cross, and immediate past president of the Alpert Jewish Family & Children’s Service of Palm Beach County
  • LL.M. degree in taxation, New York University; J.D. degree, Duke University; A.B. degree, University of Miami
  • Can be contacted at 561-689-9407, [email protected] or www.taxandelderlaw.com
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 406825
Published 2020
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