This course provides an in-depth exploration of the portability election under the federal estate and gift tax system, with a focus on the changes introduced by the One Big Beautiful Bill Act (OBBBA) of 2025. Participants will gain a comprehensive understanding of the mechanics, implications, and strategic considerations of portability, including the streamlined procedures for late elections and new compliance requirements.
Key Updates Post-OBBBA :
- Enhanced Portability Election Framework - The OBBBA introduced significant changes to the portability election process, simplifying the ability for surviving spouses to utilize the deceased spouse's unused exclusion amount (DSUE). These changes include:
- Automatic Late Election Relief: Executors now have an extended timeframe to file portability elections without requiring IRS approval, provided certain conditions are met. This reduces administrative burdens and ensures more estates can benefit from portability.
- Standardized Filing Procedures: The Act mandates uniform documentation requirements for portability elections, ensuring consistency across filings.
- Estate and Gift Tax Implications - The OBBBA adjusted the lifetime gift and estate tax exclusion amounts, impacting the calculation of DSUE. This course will cover how these changes affect estate planning strategies.
- New rules for consistent basis reporting between estates and beneficiaries, ensuring accurate valuation of inherited assets.
- Streamlined Compliance for Executors - Executors now benefit from simplified procedures for amending estate tax returns to claim portability, reducing the risk of penalties for late filings.
- Strategic Considerations - The course will delve into the strategic use of portability in light of the OBBBA’s changes, including scenarios where portability may be more advantageous than traditional estate planning techniques.
Learning Objectives:
By the end of this course, participants will be able to:
- Portability Election Process
• Understand the updated portability election process under the OBBBA.
• Navigate the new compliance requirements for late elections and amended filings
• Compare late elections using the streamlined procedure versus 9100 relief
- Estate and Gift Tax Planning
• Analyze the impact of the OBBBA on estate and gift tax planning.
• Assess estate tax consequences of electing portability.
• Evaluate income tax consequences of electing portability.
- Strategic Estate Planning
• Develop tailored estate planning strategies that maximize the benefits of portability.
• Apply portability strategies for large and small IRAs.
• Address portability considerations in second marriages.
- Compliance and Technical Analysis
• Explore the mathematics of portability in depth.
• Understand portability-only estate tax returns.
Who Will Benefit:
- CPA's
- Tax Attorneys
- Accountants
- Tax Compliance Managers
- Other Tax Professionals
Coder Archives 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 through its website: www.nasbaregistry.org.
Speaker Profile:
Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished) is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planners & Councils. He has 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 250 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 25 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 and is the immediate past the chair of the AICPA’s Advanced Estate Planning Conference, serving in that capacity from 2014-2020.
Credits and Other Information:
- Recommended CPE credit – 2.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- NASBA Sponsor: 146439
- IRS Course ID: PJGWS
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
We are approved to provide CPE/CE credits to Tax Professionals
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