New Developments in Estate and Gift Taxation: A Look at What Has Been Introduced into Congress (ondemand)

  • Credits: 2
  • Format: OnDemand® Webinar
  • Field of Study: Federal Tax Update
  • Author/Speaker: Art Werner
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Available Formats:        
Advanced Preparation: None
Experience Level: Overview
Program Prerequisites: General Understanding of Estate and Gift Taxation
Course ID: EWTFM-U-01881-22-O | 6233-CE-0596
Published Date: © April 2021


Legislation, known as the “For the 99.5% Act”, has been introduced in the United States Congress. If passed, this legislation will create significant changes in estate and gift planning for your clients. This is a significant piece of legislation introduced and it warrants our attention.

Art Werner will discuss this legislation to inform you how you should advise your clients in tax and non-tax estate and gift planning.

Topics include:
  • The elimination of most minority interest discounts
  • The elimination of many marketability discounts for passive assets
  • The reduction of the estate tax exemption to $3,500,000
  • The reduction of the gift tax exemption to $1,000,000
  • Changes to the GST exemption and GST rules
  • Estate and gift tax rate increases including a 65% rate
  • Expanded conservation easements
  • The practical elimination of GRATs
  • Potential elimination of the ILIT under the grantor trust inclusion rule
  • The new 50-year federal rule against perpetuities and the effective date rules
  • How to address estates under administration when you can still elect to pay tax
  • Gifts and sales to grantor trusts before enactment

Learning Objectives:

After reading the course material, you will be able to:

  • Advise your clients as to how to update their estate and gift plans;
  • How to structure a proper generational tax strategy.

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s: