RIP - Terminal Filing

Overview: 

The last tax return for a deceased individual carries significant implications for the executor and the inheritors under the will. In order to alleviate potential misunderstandings, this seminar provides a detailed technical review of the numerous issues faced when preparing terminal or year-of-death filings.

Specifically, the seminar emphasizes the preparation of returns and related planning for terminal filings. You will receive a review of relevant tax issues, engagement management, updated sources of tax research, and an overview of CRA assessing practices. In order to infuse the seminar with practical relevance, you will prepare and discuss real-life case studies pertaining to terminal filing.

Course Content:

In this course, you will gain knowledge about the following topics:

• Engagement management
• Tax filings upon death
• Identification and understanding of detailed compliance issues
• Compliance related to RRSPs and deferred income plan rules
• General compliance relating to terminal filings
• Identification of GST/HST matters

Learning Objectives:

Upon completing this course, you should be able to:

• Establish a plan for approaching terminal filing assignments
• Identify and effectively utilize the different types of tax returns that may be filed for a deceased individual
• Identify and address significant issues relating to year-of-death filings

Who Will Benefit: 

While all professionals will benefit from this seminar, the seminar particularly targets practitioners who complete individual terminal tax filings and have an interest in understanding related planning strategies.