Indiana Inheritance Tax Repealed: CLE Seminar Addressing Indiana HEA 1001

With the passage of Indiana HEA 1001, which repeals inheritance tax for those that died after 12/31/2012, new questions need to be addressed.

  • What are the changes to the inheritance tax refund statutes?
  • Does the Department of Revenue have to pay interest on a refund?
  • Is there a specific form needed or will a letter suffice?
  • Do Consents to Transfer have to be prepared?
  • What is the procedure for Inheritance tax owed for those that died prior to January 1, 2013?

Join us tomorrow as Indiana Inheritance Tax Administrator Don Hopper and Audit Attorney April Meade address these and many other matters including an analysis of key recent tax court cases, helpful tips in preparing inheritance tax returns and Consents to Transfer, and a discussion (with several examples) of the taxation of trust distributions.

 

ADDITIONAL TOPICS:
2012-13 LEGISLATIVE UPDATE

  • Class A exemption increase & expansion
  • Phase out of inheritance tax
  • Transfer to an “entity”

INDIANA TAX COURT UPDATE

  • Estate of Neterer v Indiana Department of Revenue, 956 N.E.2d 1214 (Ind. Tax Ct. 2011)
    ISSUE: Valuation discount on partial interest in real estate
  • Indiana Department of Revenue v Estate of Schoenenberger, 976 N.E.2d 148 (Ind. Tax Ct. 2012)
    ISSUE: Interest on inheritance tax refund
  • Pending Cases: Constitutionality of 3 transferee classes, in loco parentis & refunds

HOT TIPS IN INHERITANCE TAX

  • Consents to transfer (Form IH-14)
  • No tax due – options
  • Preparing returns
    – Appraisals
    – Annuities v. life insurance
    – Disclaimers
  • Statutes of limitations
  • Disagreements between Estate and Department
  • Refunds
  • After-discovered assets

TAXATION OF TRUST DISTRIBUTIONS

 

FACULTY:
Donald R. Hopper – Chair
Inheritance Tax Administrator, Indiana Department of Revenue, Indianapolis, IN

April E. Meade
Audit Attorney, Indiana Department of Revenue, Indianapolis, IN

 

INDIANA INHERITANCE TAX UPDATE – 3 CLE / 3 CPE
INCLUDING COVERAGE OF HOUSE ENROLLED ACT 1001!
This program is no longer available as a Live In-Person Seminar. However, you can still view the Video Replay, the Online/On Demand Video or purchase the Publication of this Seminar by Clicking Here.

ICLEF • Indiana Continuing Legal Education Forum

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