The Complete Guide to the Preparation of Form 1041
Online
8.00 Credits
Member Price $289.00
Price will increase by $35 after 12/31
Non-Member Price $414.00
Price will increase by $35 after 12/31
Overview
Tax compliance for fiduciary entities, such as estates and trusts, can often be confusing for practitioners due to the specialized nature of this area. This course provides a practical understanding of the issues involved in preparing the U.S. Income Tax Return for Estates and Trusts (Form 1041), giving practitioners the tools and knowledge they need to ensure accurate filings. This course will cover key areas such as the preparation of Form 1041, specific issues related to estates and trusts, and an in-depth look at distributable net income (DNI) and income in respect of a decedent (IRD). Line- by-line instructions and real-world case studies will provide participants with the confidence to handle fiduciary tax compliance. The course will be updated to reflect any legislative changes affecting fiduciary tax reporting
Objectives
- Prepare Form 1041 accurately.
- Identify and apply the tax rules specific to estates and trusts.
- Interpret estate documents and apply them to tax filings.
- Explain the key provisions of Subchapter J of the Internal Revenue Code.
- Calculate distributable net income (DNI) for estates and trusts.
- Determine the income in respect of a decedent (IRD) and its tax implications.
- Ensure compliance with fiduciary tax requirements.
- Complete a line-by-line review of Form 1041.
Highlights
- Detailed preparation of Form 1041
- Key issues concerning decedent estates
- Key issues concerning trusts
- Overview of Subchapter J of the Internal Revenue Code
- Fiduciary tax compliance requirements
- Case studies: Reading and interpreting estate documents
- Distributable net income (DNI) and its role in tax filings
- Understanding income in respect of a decedent (IRD)
- Line-by-line walkthrough of Form 1041 preparation.
Designed For
CPAs, EAs, and attorneys
Prerequisites
None
Preparation
None
Notice
To access this program, log into your CTCPA account at https://www.ctcpas.org/my-cpe/upcoming and click on the orange "Launch Event" button.
Leader(s):
Leader Bios
Arthur Werner, President, Werner-Rocca Seminars, Ltd.
Arthur Joseph Werner, JD, MS (Taxation), is the president and is a shareholder in the lecture firm of Werner-Rocca Seminars, Ltd. Mr. Werner’s lecture topic specialties include business, tax, financial and estate planning for high net worth individuals.
In addition, Mr. Werner is a former adjunct professor of taxation in the Master of Science in Taxation program at the Philadelphia University.
Mr. Werner received his B.S. in Accounting and his M.S. in Taxation from Widener University. He holds a J.D. in Law from the Delaware Law School.
Mr. Werner lectures extensively in the areas of Estate Planning, Financial Planning, and Estate and Gift Taxation to Certified Public Accountants and Financial Planners and has presented more than 3000 eight-hour seminars over the past twenty-five years as well as numerous webinars and video presentations. Mr. Werner has been rated as having the highest speaker knowledge in his home state of Pennsylvania by the Pennsylvania Institute of Certified Public Accountants, was awarded the AICPA Outstanding Discussion Leader Award in the State of Nevada, the Florida Institute of CPAs Outstanding Discussion Leader Award, and the South Carolina Association of CPAs Outstanding Discussion Leader Award.
Non-Member Price $414.00
Member Price $289.00