Employees are working from a variety of locations in our post- COVID world. This program will identify and discuss the business tax consequences that are created from this new, and still evolving, way of doing business.

This session will cover the application of passthrough entity taxes and associated federal tax treatment resulting from Notice 2020-75.

The decision between operating as a partnership, corporation, S-Corporation, or sole proprietorship for tax purposes has both long and short term consequences. This session will run through some of the key triggers and decision points for understanding which form makes the most tax sense, and the most business sense, for your clients given the current tax landscape.

As trust planning becomes more and more prevalent, the need to understand the federal and state income tax treatment of trusts has become more important than ever. This program will provide the practical fundamentals that every estate planner should know about fiduciary income taxation. Different definitions of income, including Taxable Income (TI), Fiduciary Accounting Income (FAI) and Distributable Net Income (DNI), will be translated in a clear and concise manner, in order for practitioners to protect themselves from many of the traps for the unwary.

IRS penalties are nothing new, but the proliferation of automated penalty assessments and the increasingly lengthy, and challenging, process of requesting and obtaining reasonable cause abatement has tried the patience of both taxpayers and practitioners in recent years. This panel will discuss the IRS's current penalty landscape, including a discussion of the most effective ways of obtaining reasonable cause relief for your clients. Hear from two experienced tax controversy practitioners who will share their tips and tricks of the trade!

In this session, we will discuss the exclusion of gain from the sale of qualified small business stock. We will walk through the statutory requirements that must be met for stock to meet the definition of QSBS, the limitations that apply on gain, identify planning opportunities to maximize the exclusion, and point out traps the unwary that may cost a taxpayer the exclusion.

This session will address the many issues and challenges facing a surviving spouse arising from tax law and financial planning considerations. The surviving spouse will face a myriad of decisions to be made - many of which may have important implications for both the survivor and the survivor's family. This will be the focus of the session.

A spirited review of the best planning ideas from the conference - and some year end client planning thoughts - from our esteemed conference planning committee members that you can take back to your practice and implement immediately.