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:
Warren M Bergstein: More than forty years of practice in tax planning, estate and trust administration and planning, personal financial planning and accounting have given Warren an extraordinarily deep understanding of taxation and personal finance. At his firm, Adelman, Katz & Mond LLP, his clients, who include primarily high net worth individuals, entrepreneurs and sole proprietors, benefit from his expertise in tax law, its applications and implications for individuals. Warren is an adjunct professor of accounting and taxation at Long Island University, New Jersey City University, and Rutgers. He has spoken at the Institute of Management Accountants, both the New York and Long Island chapters of the Financial Planning Association, the New York State Society of CPAs, New York University, and others.
We are approved to provide CPE/CE credits to Tax Professionals
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