Fundamentals of Income Taxation of Trusts & Form 1041 Planning: What Every Advisors Needs to Know 2 Credits 2 Credits
Learning mode
With more and more trusts being used today and audits of Form 1041 (U.S. Income Tax Return for Estates and Trusts) on the rise, it has never been more critical to understand the ins and outs of income taxation of trusts and estates and the preparation of the Fiduciary Income Tax Return. Recent shifts and changes in the taxation of estates and trusts have also changed some of the planning techniques that practitioners should consider when advising clients.
Even if you are helping clients with a modest net worth, most will set up a inter vivos or testamentary trust or at least their estate will have to file an income tax return. This course is therefore helpful because there are many unique aspects to tax accounting for trusts and estates. For example, fiduciary accounting is a unique concept and many other deductions are subject to a different set of rules compared to individuals. This course will help you learn specialized knowledge and provide your clients with greater value. This course is designed for participants to understand the core concepts of trust and estate income tax preparation. The course explains the common terminology and complicated income tax rules of estates and trusts, fiduciary accounting, and an introduction to or refresher on preparing Form 1041.
Major topics Covered :Â
| License details | Credits | Status |
|---|---|---|
| Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Enrolled Agents (EA) | 2 CE | Approved |
| Annual Filing Season Program (AFSP) | 2 CE | Approved |
| California Registered Tax Preparers (CRTP) | 2 CE | Approved |
| Personal Financial Specialist (PFS) | 2 CPD | Eligible |
| Certified Financial Planner (CFP-US) | 2 CE | Approved |
| Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. 00521-21) | 2 CE | Approved |
| Certified Wealth Strategist (CWS) | 2 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 2 CPD | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 2 CE | Eligible |
| Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. 00521-21) | 2 CE | Approved |
| Certified Senior Advisor (CSA) | 2 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Enrolled Agents (EA) | 2 CE | Approved |
| Annual Filing Season Program (AFSP) | 2 CE | Approved |
| California Registered Tax Preparers (CRTP) | 2 CE | Approved |
| Personal Financial Specialist (PFS) | 2 CPD | Eligible |
| Certified Financial Planner (CFP-US) | 2 CE | Approved |
| Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. 00521-21) | 2 CE | Approved |
| Certified Wealth Strategist (CWS) | 2 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 2 CPD | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 2 CE | Eligible |
| Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. 00521-21) | 2 CE | Approved |
| Certified Senior Advisor (CSA) | 2 CE | Eligible |
Credits
2
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) 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.
Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA is a partner with Keebler & Associates, LLP and the current chairman of the AICPA Advanced Estate Planning Conference. In 2007 he was inducted into the Estate Planning Hall of Fame of National Association of Estate Planners & Councils. He has also been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration.
Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and in estate, gift and income tax examinations and appeals, and he has received more than 200 favorable private letter rulings including several key rulings of “first impression”. He is the author of over 100 articles and columns and is the editor, author or co-author of many books and treatises on wealth transfer and taxation. Mr. Keebler has been a speaker at national estate planning and tax seminars for over 20 years including the AICPA’s: Estate Planning, High Income, Advanced Financial Planning Conferences, ABA Conferences, NAPEC Conferences, The Notre Dame Estate Planning Conference and the Heckerling Estate Planning Institute.

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What are the requirements to maintain compliance with live webinar courses?
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
How can I access my webinar completion certificates?
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
How are credits reported to governing bodies?
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
MB
Bob Keebler was not only instructive but engaging. He was one of the best instructor's that I have encountered recently.
MK
I've been looking for good overall explanation of trusts and estates. This course was exactly what I was looking for.
Apr 29, 09:00 AM ET
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