Next, the IRS has started requiring partnerships to report “tax basis” capital accounts, presumably with an eye toward scrutinizing “negative basis.” “Negative basis” is the colloquial description where liabilities allocated to one’s partnership interest exceed basis, so that the disposition would be subject to income tax; and the IRS may be seeing whether those are ripe for current taxation. We will briefly review the reporting and the income tax planning.
Finally, on Halloween final regulations were issued rewriting the rules of when a transfer of a life insurance policy will cause the death benefit to be subject to income tax. We will go through the basics of the new rules.
You will learn:
Approved for 1.5 hour general CLE credit in California and Illinois
Approved for 1.8 hours general CLE credit in Missouri
Live Webinar Presentations
Our live TCLE webinars are pre-approved for continuing legal education credit in California, Illinois and Missouri. All attorneys attending the live webinar will be able to print out a Certificate of Attendance offered at the completion of the webinar. For those attorneys seeking CLE in jurisdictions other than California, Illinois and Missouri, the Certificate of Attendance can be used to seek CLE in the 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.
All TCLE webinars are recorded and available on demand from our website. All attorneys listening to a recorded webinar will be able to print out a Certificate of Attendance offered at the end of the recording. As an accredited CLE provider in California, Illinois and Missouri, you will earn the following type of credit by watching a recording:
If you are in a jurisdiction outside of the three mentioned, check with your state’s CLE requirement before watching a TCLE webinar. While Thompson Coburn adheres to the strict accreditation rules for California, Illinois and Missouri, please note that our recorded webinars may not be eligible to receive credit in all states.
Information We Request When Registering
For reporting purposes we ask the following when you register: All California and Illinois attorneys must provide their bar numbers, and all attendees must designate whether they are a practicing attorney.
If you have questions regarding CLE certification, please contact: