New IRS Guidance on Basis Adjustments for Irrevocable Grantor Trusts: Key Issues for U.S. and Non-U.S. Persons
A live 90-minute CLE/CPE video webinar with interactive Q&A
This CLE/CPE webinar will provide estate planners insight on recently issued IRS guidance regarding basis adjustments for irrevocable grantor trusts. The panelist will discuss key items and challenges stemming from Revenue Ruling 2023-2, calculating basis, criteria for a basis adjustment under Section 1014, and key planning considerations for U.S. and Non-U.S. persons.
Outline
- IRS Revenue Ruling 2023-2
- Identifying low basis assets subject to potential income tax consequences
- Transferring low basis/appreciated assets in light of recent IRS guidance
- Potential tax risks of basis adjustment strategies
Benefits
The panelist will discuss these and other key issues:
- Which class of assets benefit from basis adjustment transactions?
- What is the impact of Revenue Ruling 2023-2 and next steps for estate planners and taxpayers?
- Structuring sale and exchange transactions between grantor and non-grantor trusts to maximize tax advantages through basis management
- Tax and other risks involved in basis adjustment transactions and strategies
Faculty
Wendy Holloway, CPA, MAFM
Senior Manager
Barnes, Dennig & Co.
Ms. Holloway is a seasoned tax and estate professional with over two decades of leadership experience across diverse... | Read More
Ms. Holloway is a seasoned tax and estate professional with over two decades of leadership experience across diverse industries. With a strategic focus on driving business development, client satisfaction, and revenue growth, she is known for her skills in individual, partnership, corporate, estate, and trust tax planning. Ms. Holloway is a Certified Public Accountant in multiple states and holds a Master’s Degree in Accounting & Financial Management from the Keller Graduate School as well as a Bachelor of Business Administration in Accounting and Finance from Kennesaw State University.
CloseCannot Attend May 9?
You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. CPE credit is not available on recordings. Strafford will process CLE credit for one person on each recording. All formats include course handouts.