EST2405. Staying out of the Estate and Gift Tax Return Penalty Box

In 1955, there were fourteen penalty provisions in the Internal Revenue Code. By 2011, there were more than ten times that number. Come learn from two tax attorneys – an estate planner and a tax controversy specialist – about the penalties that can apply in the estate and gift tax context, and how to effectively defend against them. This session will include a discussion of recent penalty case law, as well as the application of the ever-elusive “reasonable cause” standard.

Learning Objectives:

• Identify the penalties that can be applied to estate and gift tax returns
• Recognize the defenses to each of the identified penalties.
• Analyze recent case law impacting the application of and liability for penalties.