IRS Chief Counsel Advice (CCA) 202352018 argues that a beneficiary’s consent to a trust modification was a gift, but also commented that a beneficiary’s failure to enforce rights was also a gift. This webinar will review income and transfer tax issues relating to various ways of modifying trusts.

In Huffman v. Commissioner, T.C. Memo. 2024-12, strictly interpreted the IRC §2703 comparability test and dramatically affects how to plan for buy-sell agreements.

This course will also review recent cases regarding loans or split-dollar life insurance arrangements.

Learning Objectives:

• Identify how to minimize income and transfer tax consequences of decanting and other trust modifications


• List steps to take to make buy-sell agreements satisfy IRC §2703


• Evaluate tax consequences of loans or premium financing

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222