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.
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Why Lorman?
Over 35 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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Why Lorman?
Over 35 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
OnDemand Course
This course was last revised on October 27, 2020.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 35 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
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 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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Why Lorman?
Over 35 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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