Federal Estate Tax Repeal and
It's Effect on the States
Presented by the AAA-CPA and New York Chapter of the AAA-CPA
Speaker: Laurence Keiser, LL.M, CPA
Stern Keiser & Panken, LLP
No one ever believed we would have a world without Estate tax. The 2001 Tax Act created a phase-out and proposed repeal of the tax in 2010, but all practitioners assumed there would be legislation before 2010, perhaps making taxes permanent rates at 2009 rates and exemption. But here we are. It's 2010. There is no estate tax and there is carryover basis. Estate and GST tax come back in 2011 with a $1 million exclusion and 55% rate. Is this so? Or will Congress Act? This program will provide up-to-date information on Federal legislation.
New sets of problems arise for state taxes for 2010 decedents. They must file a state return, but not a Federal return. Practitioners now need to focus on QTIP elections for states, alternative valuation elections for states and basis adjustments (perhaps) for states. This is certainly not simplification.
Laurence Keiser, LL.M, CPA
Laurence Keiser is a partner in the New York City and White Plains law firm of Stern Kaiser & Panken, L.L.P, where he specializes in tax planning and litigation, and estate planning and administration.
Larry holds a B.S. in accounting from New York University, a J.D. from St. John’s University of Law, and an LL.M. in taxation from New York University School of Law. He is a former officer and director of the New York State Society of CPA’s, and past chairman of many of its committees (including Relations with the Internal Revenue Service). He is also past President of its Westchester Chapter.
Larry has been a frequent lecturer and speaker for accounting and law groups. He was the author and discussion leader of the Foundation for Accounting Education’s courses, Review and Update for Experienced Individual Tax Practitioners and Advanced Estate Planning, for which he received the Outstanding Discussion Leader Award. He has chaired or presented at many tax conferences.
He has served on various tax and estate and trust committees of the New York State and Westchester County Bar Associations and is a past director of the Estate Planning Council of N.Y.C. He has also been a faculty member of Practicing Law Institute’s Annual Estate Planning Conference. Larry has had numerous articles published in professional journals and has been an Adjunct Professor of Taxation at the Graduate Business Schools in New York University and Long Island University.
Date: Tuesday, December 7, 2010
Time: 5:30pm - 6:00pm - Registration/Cocktails
6:00pm - 6:10pm - Welcome/Annoucements
6:10pm - 6:50pm - Dinner
6:50pm - 8:30pm - Presentation
Location: Kennedy's Restaurant, 327 W. 57th Street (btwn. 8th and 9th Ave), New York, NY 10019
Education: 2 CPE/(M)CLE credit (has been applied for)
Cost: $30.00 Members & Guests; $50.00 Non-Members*
*Non-Members that qualify to become a member of the AAA-CPA who join will receive a complimentary registration to this seminar. Membership in the AAA-CPA includes membership within the New York Chapter. First year regular membership dues are only $120! Join online at www.attorney-cpa.com or call the National Office at 888-288-9272.