Surviving a Gift Tax Audit (from Advanced Estate Planning 2015) (Online Seminar)

A pre-recorded streaming VIDEO replay of one session from the May 2015 live seminar, The Douglas W. Conner 36th Annual Advanced Estate Planning and Administration Seminar.

This presentation explores the audit function of the Service as to forms 709 and the taxpayer response: statutory basis for gift tax return audits; IRS initiatives focusing on gift tax returns; statute of limitations issues; unreported gifts; ethical issues, Circular 230 and related authority — the lawyer’s duty to the system; handling valuation issues — real estate, entity interests; penalties and abatement of penalties; transferee liability and personal representation liability; practical suggestions and building the foundation for appeals and beyond.

FACULTY

James W. Narron, Narron, O'Hale and Whittington P.A. / Smithfield, NC

James W. Narron is a partner with Narron, O’Hale and Whittington, P.A. in Smithfield, North Carolina, where he has practiced since 1975. His A.B. is from the University of North Carolina at Chapel Hill (1970), his J.D. (cum laude) from Wake Forest University (1975), and his LL.M. (in Taxation) from New York University (1983). He is a fellow in the American College of Trust and Estate Counsel, active in the North Carolina Bar Association section on Estate Planning and Fiduciary Law, a former adjunct professor at Campbell University Law School, and a frequent speaker at CLE events, including Heckerling Estate Planning Institute at the University of Miami, the Duke Estate Planning Council, the Virginia, Georgia, North Carolina, Texas, and Colorado Bar Associations, and the IRS Continuing Professional Educations Program on Gift and Estate Taxes (Chicago). Most recently, he completed a four-year term as Chairman of the Board of the North Carolina Community Foundation, Inc. Mr. Narron is a veteran of the United States Navy.