A Practical Guide to Substantiating Values on Estate Tax Returns Out of Stock
Co-sponsored by the CBA Trust & Estate Section
Quantity
April 2012
A Practical Guide to Substantiating Values on Estate Tax Returns
Co-sponsored by the CBA Trust & Estate Section
Trust & Estate Section CLE Luncheon Series
Program Description
In this program, we will discuss the guidance available to taxpayers and tax practitioners who must determine and report fair market value on an estate tax return. While the Code provides little specific guidance directly, the Code's provisions governing penalties along with Circular 230 and ethical considerations may assist practitioners in determining the level of valuation evidence they are comfortable relying on for purposes of protecting themselves and their clients from potential adjustments and penalties. We will discuss common situations where these decisions must be made. We will also provide an outline for reviewing valuation reports so that attorneys can get some comfort that the valuation report will support the client's position if a tax return is examined.
Don't Forget: The T&E Luncheon Series is also available via live Internet webcast, direct to your desktop!
Agenda
11:30 AM - 12:00 PM
Registration
12:00 PM
Topics will include:
- Estate tax reporting of fair market value
- What level of valuation evidence do you need?
- When do you need a professional appraisal?
- How to review an appraisal
1:00 PM
Adjourn
Presented by David L. Starbuck, Esq., and Jennifer E. Benda, Esq.
Program Series Chair
Connie Tromble Eyster, Esq.
Hutchinson Black and Cook, LLC
Boulder, CO
Faculty
David L. Starbuck, Esq., maintains an active practice counseling individual and closely held business clients regarding taxation and business transaction planning matters. In serving his clientele, Mr. Starbuck drafts taxed advantaged trust structures and advises on sophisticated business succession techniques, including family limited partnerships, defective grantor trusts, intra-family asset sales and buy/sell agreements. He assists his clients regarding choice of entity planning, real estate transactions, charitable giving, incentive trust analysis, life insurance planning, corporate partnership and limited liability company restructures and fiduciary matters. Mr. Starbuck also represents a variety of financial institutions, advising them on trust administration, taxation and reformation matters. A frequent presenter, Mr. Starbuck teaches each year at the University of Denver College of Law, Graduate Tax Program.
Jennifer E. Benda, Esq., focuses her practice in the areas of tax controversy and income tax planning and compliance. Ms. Benda's larger cases involve IRS examinations of (i) charitable contributions of conservation easements; (ii) estate and gift tax returns involving the sale and gift of privately held stock, as well as valuation of family businesses; (iii) variable prepaid forward sale transactions; and (iv) IRS Voluntary Disclosures. Prior to becoming an attorney, Ms. Benda was a CPA for 10 years, where she worked for two of the big four accounting firms. Ms. Benda is a regular contributor to Baker Hostetler's Issues in Tax Controversy blog.
- CLE Pass Price *FREE! - exclusions may apply
- Standard Price $59.00 USD
- Member Price $39.00 USD
- General Credits 1.00
- Ethics Credits
- EDI Credits