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Thompson coburn llp
Handout Materials
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Tax and Estate Planning Implications
Free cpece webinars
Fiduciary Income Tax Refresher and Latest Update 2020


Cost Free
Presentation Length 1.5 hours

Recorded DateSeptember 11, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Proposed regulations on excess deductions on termination of a trust or estate were issued May 11th!  Learn how these new rules change how you treat those deductions, which may include amending 2018 and 2019 returns.

In this webinar, the presenter will discuss tax-savings tools that can be used between now and tax season when preparing returns. He will also cover the May 11, 2020 proposed regulations on deducting excess losses on termination of an estate or trust, which when finalized will allow amending returns for 2018 and 2019.  A brief overview of the Uniform fiduciary Income and Principal Act (UFIPA), the 2018 restatement of the Uniform Principal & Income Act, will be included.

Major Highlights:

  • Analysis of May 11, 2020 proposed regulations on deducting excess losses on termination of an estate or trust

  • Strategic Fiduciary Income Tax Planning

  • Tips for Fiduciary Income Tax Preparers

  • Trust Accounting Income Regarding Business Interests

  • Code § 199A Pass-Through Deduction for Qualified Business Income.

This course shall also cover for participants the core concepts of trust and estate income tax preparation. The course explains the common terminology and complicated income tax rules of estates and trusts, fiduciary accounting, and an introduction to or refresher on preparing Form 1041. 

Learning Objectives: 

  • Learn how new regulations on excess losses work and the need to consider amending 2018 and 2019 final returns of estates and trusts

  • Learn how UFIPA will help trustees optimize income tax results and actions to take when drafting estate plans whether or not UFIPA has been enacted in your jurisdiction

  • Learn the impact of U.S. Supreme court case on state fiduciary income taxation

  • Get refreshed on tools to save income tax overall when considering the trust's or estate’s and beneficiaries’ overall income taxes

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Thompson coburn llp

Steve has drafted trusts and a full range of estate planning documents for clients to help grow, preserve, and transmit their family wealth. He has also drafted organizational documents for limited liability companies, corporations, and partnerships to implement their owners' wishes regarding current and future control and transmission, including bringing in new owners and facilitating exit strategies. 

Steve enjoys helping clients structure their affairs to achieve their personal, business, and financial goals while trying to reduce the drag that taxes impose on them. His firm provides full service to businesses; however, he also acts as counsel on specialized matters while cooperating and facilitating the continued involvement of an existing legal, accounting, and financial services team. Steve maintains his CPA license but prefers to refer income tax returns to practicing CPAs.

Steve Gorin is the former president and an ongoing contributor to strategic initiatives of Covenant Place, a senior affordable housing community with a groundbreaking model for integrated residents with the surrounding community and facilitating holistic services to enrich their lives. 

To know more about Steve Gorin, kindly click on the link below:

For various free resources Steve offers, see

About Our Presenter

Thompson coburn llp
For approximately 90 years, Thompson Coburn LLP has provided the quality legal services and counsel our clients demand to achieve their most critical business goals. Whether helping with a tax, estate planning, real estate or employment issue, navigating a complex acquisition or defending a product or service in litigation, we have the knowledge and resources to meet any legal need.

With over 380 attorneys, we have experience in more than 50 areas of the law. Supported by our firm’s state-of-the-art technology, lawyers in our Chicago, Dallas, Los Angeles, St. Louis, Southern Illinois and Washington, D.C. office enjoy a nationwide practice.

Thompson Coburn live webinars are pre-approved for continuing legal education credit in California, Illinois, and Missouri. For those attorneys seeking CLE in other jurisdictions, the Certificate of Attendance can be used to seek CLE in those other jurisdictions. It will be the responsibility of each attorney to handle CLE in his or her own state. While Thompson Coburn adheres to the strict accreditation rules for California, Illinois, and Missouri, please note that our live webinars may not be eligible to receive credit in all states.