Family Limited Partnerships, or FLPs, continue to be the most popular vehicle for passing family businesses and property from a family's senior generation to junior generations. They have the potential for substantial tax savings and flexibility in achieving non-tax goals. However, they are under continuing IRS attack and their administration is under increased scrutiny. This program will provide you a wide-ranging update, including trends in recent IRS attacks on FLPs, recent court decisions, and planning techniques to avoid tax controversy. If you work with FLPs, this program is essential learning.
Recent developments in IRS attacks on FLPs
Trends in valuing FLP interests
Practical planning strategies to avoid tax controversy
Best practices in FLP administration
The Institute of Certified Bankers This program received the following breakdown of continuing education credit, CTFA: 1.25 TAX: 1.25 To obtain continuing education credits, ICB members should submit their credits electronically at http://www.icbmembers.org.
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