IRS, Loss, Gift & Estate Valuations

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Notes

To view additional offerings sponsored by the Northern California Chapter
Click - 2020 Calendar of Events

This offering is a chapter-developed Interactive Virtual Classroom presentation using ZOOM

It is the student's responsibility to have the required equipment: Internet Access, Computer with Webcam, Microphone & Speakers. The instructor / monitor must be able to see / view students throughout the offering and the students must be able to view the instructor and/or the instructor's presentation.

[Many laptops have the webcam and microphones built-in.]

IMPORTANT: If you are seeking credit for this offering from a state outside of California, check with your state licensing board(s) - before registering - to make sure that they will accept (1) virtual classroom credit, (2) accept credit from an out-of-state provider and/or (3) reciprocal credit from the California Bureau of Real Estate Appraisers (BREA).

IRS, LOSS, GIFT and ESTATE VALUATIONS: 
Changes in the Rules and How They Impact the Appraisal Process

The IRS has finalized rules for substantiating and reporting cash and noncash charitable deductions, stating that any tax deduction of more than $500,000 requires a qualified appraisal conducted in accordance with generally accepted appraisal standards. The rules took effect as of August 1, 2018 ~ but appraisers still have plenty of questions.

Taxpayers who suffer economic loss due to a natural disaster can claim a casualty loss deduction on their federal income tax return. However, there have been some recent changes to limit deductions, as will be discussed.  The same sort of principles may apply to litigation, if someone else caused the damage.  Come learn from experienced appraisers who will share with us a recent case study on casualty loss involving a large custom home, a washed out road, and a mudslide. You need to register for the workshop to see how the damages were calculated and how this story ends. 

Don’t miss this lively and informative 2-hour "virtual" workshop where we will explore new and upcoming changes to the IRS requirements, and how they might impact the appraisal community.

• What estates must file a return? What are the exemptions now? 2021?
• When are appraisals needed? “Step-up in basis”, 706, 709?
• Who does the hiring of appraisers for IRS matters?
• Client tax-saving opportunities from fractional interest discounts
• What are the consequences of filing an estate return without a “proper” appraisal?
• What happens in an audit? Tale of the client whacked with a huge penalty
• Avoiding audit scrutiny
• What are the relevant filing dates?  When is my appraisal needed?
• Specific required wording in reports for the IRS

Panelists include
Charles H. Packer ("Chuck") - Estate and Trust Attorney, Hopkins & Carley
Norman C. Hulberg, MAI - Senior Managing Director, Valbridge Property Advisors - Northern California
Rebecca Frederick - Appraiser, Valbridge Property Advisors - Northern California
Nolan Tong - Sr. Appraiser, Valbridge Property Advisors - Northern California

Moderator
Carole Laval, SRA - Laval and Associates

Cancellation Policy

Cancellations

Written cancellations received by Thursday, September 20, are subject to a $10 cancellation fee.  Cancellations received after that time but prior to noon on Thursday, September 27, are subject to a $15 cancellation fee.  No refunds for cancellations received after Thursday, September 27 or for workshop "no shows". Cancellations can be emailed to lisa@norcal-ai.org.

Additional Information

Workshop Materials and Hours
Online check-in will begin at 2:30pm on Thursday, September 3. Instruction will run from 3:00pm – 5:00pm (Pacific Time) and will be conducted using ZOOM as the interactive learning platform.  There is no exam associated with this CE offering.  Materials (if available) will be available for download via a special link sent from the Northern California Chapter Office; these materials are not available in your Appraisal Institute "My Account" portal.  By registering for this offering, you agree that your attendance may be monitored and/or recorded and that you will forward your DL/ photo ID to the Northern California Chapter in advance via email. 

Photo ID Required
After registering please send  a copy of your Driver's License or Photo ID to lisa@norcal-ai.org.  Feel free to cover all personal information with the exception of your photo and name. Quick tip:  Cover this information with cut to size post-it notes before taking a photo with your phone or scanning.  Without receiving this information, registrants will not be sent the ZOOM log-in link.  In the subject line type "DL -  [enter your last name] - IRS Sept 2020"  before submitting.  ID's must be received no later than August 28.

Required Texts / Materials 
There are no additional required texts or materials for this offering.

Those relying on downloadable materials (if applicable), are strongly encouraged to pre-download these documents or perhaps view them on a secondary devise during the virtual presentation.

Required Equipment 
This class will be held via Interactive Technology (ZOOM).  It is the student's responsibility to have the required equipment:

• Internet access
• Computer with webcam, microphone & speakers (many laptops have these features built-in)

Some registrants may find a secondary device (ipad, phone, laptop or desktop computer) helpful during instruction for reviewing the additional materials (if applicable).

New to ZOOM?
If you are new to ZOOM or need a little refresher, take their FREE tutorial How to Join a ZOOM Meeting.  It will give you the confidence to successfully navigate this virtual presentation.

Education Credit Hours and Attendance Verifications

Those who check into the interactive platform late, leave early or leave during non-scheduled breaks may jeopardize receipt of credit.  Webcams must remain on throughout the offering.  Only one registrant can be visible at a time; each registrant will need his/her own webcam.

Appraisal Institute: Full attendance (100%) enables Designated Members and Practicing Affiliates to receive 10 AI CEC points.   

BREA Continuing:  IRS, Loss, Gift and Estate Valuations has been approved by the California  BREA for 2-hours of CEC (#18CP754601345). Licensed/certified appraisers seeking BREA CEC must meet the 100% attendance requirement. [Note:  This particular offering is based on the "live" version that falls under the temporary exemption for virtual / online education due to COVID / SIP restrictions.]

BREA Basic/Qualifying: IRS, Loss, Gift and Estate Valuations  is not approved for BREA qualifying education (QE) credit.

State Board of Equalization: IRS, Loss, Gift and Estate Valuations is being submitted for 2-hours of SBE training credit for assessors.  

If you are seeking credit for this offering from a state outside of California, check with your state licensing board(s) to make sure an out-of-state virtual offering will be accepted before registering.  We are not submitting this offering for pre-approval from any states outside of California.

NEW! Attendance Verification Process Effective 10/01/19
Verified attendance certificates will be available within 15 working days by

• Logging into My Account www.appraisalinstitute.org
• Select EDUCATION
• Click on the specific offering that you are seeking the certificate for; it will show REGISTERED
• Scroll to the very bottom of the screen to RETRIEVE CERTIFICATE
  
  

Note:  Effective 10/01/19 students will be able to access their attendance certificates 24/7 through the Appraisal Institute's netFORUM association management program.  The Northern California Chapter does not have direct access to certificates for programs held after this time. Any issues in retrieving certificates should be brought directly to the attention of the Appraisal Institute's Education Delivery Department at 312/335-4207 or education@appraisalinstitute.org

Confirmation Emails

All confirmed registrants will receive a payment receipt plus a separate confirmation by email.  Be sure that you can accept emails from each of the following email addresses: 

• info@appraisalinstitute.org
• education@appraisalinstitute.org
• lisa@norcal-ai.org
• lisa@norcal-ai.ccsend.com

In addition, ZOOM details for logging into the specific offering will be sent separately from one of these emails above.

Questions? Contact Us
Northern California Chapter

925/932-7753    lisa@norcal-ai.org

Disclaimer Information

Cancellation Policy:    Written cancellations can be emailed to lisa@norcal-ai.org. We reserve the right to substitute instructors, or to cancel or modify this program if sufficient registrations are not received by August 20 or due to other circumstances beyond our control. In the event of cancellation, tuition fees will be refunded. All other costs incurred are the registrant’s responsibility.

Special Accommodations:  Special accommodations are available for individuals who have been professionally diagnosed as physically or learning disabled and can provide appropriate documentation in writing prior to the offering. Without advanced notification, accommodation may not be available.

Lost or Damaged Items:  The Appraisal Institute is not liable for lost or damaged items. This includes but is not limited to calculators, laptops, cell phones, etc.

Communications: By registering for this event, you agree that your communications may be monitored or recorded at any time and that your contact information may be placed in a roster designed for networking purposes.  We reserve the right to switch or change the virtual learning (zoom, Go2, etc.) platform selected for this offering based on program logistics

Questions? Contact the Northern California Chapter:  The Northern California Chapter is the local sponsor of this virtual education event.  We can be reached at lisa@norcal-ai.org or by calling 925/932-7753. 

This Educational Program (Program) was developed and organized by the Appraisal Institute Chapter offering the Program with the intent of addressing topic(s) of current local interest solely for educational and informational purposes. The Appraisal Institute national organization was not involved in developing or organizing the Program. The content of this Program, including but not limited to any written materials and presenter comments, does not represent the viewpoint of the Appraisal Institute (defined as including but not limited to, the national organization, its Regions, Chapters, members, candidates, affiliates and staff) unless formally adopted by the national Board of Directors. Further, the Appraisal Institute has not peer-reviewed or approved the content of the Program and does not warrant the accuracy or timeliness of the content of the Program. The content of the Program is subject to court decisions and local, state and federal laws and regulations and any such revisions of such laws and regulations. This Program is presented with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting or other professional advice or services. Nothing in the Program is to be construed as the offering of such advice or services. If expert advice or services are required, attendees and readers are responsible for obtaining such advice or services from appropriate professionals. Please note that not all states have approved Virtual education, therefore, registrants must check their individual states for approval before registering for the program. Before registering for the program, registrants understand and agree that continuing education credit for this program may not be available in their state on the date of the program. The Appraisal Institute is not responsible if credit is not available for the program in individual states. State exceptions for virtual education may expire prior to the offering date.

National Disclaimer

This Educational Program was developed and organized by the Appraisal Institute Chapter offering the Program with the intent of addressing topic(s) of current local interest solely for educational and informational purposes. The Appraisal Institute national organization was not involved in developing or organizing the Program.

The content of this Program, including but not limited to any written materials and presenter comments, does not represent the viewpoint of the Appraisal Institute (defined as including but not limited to, the national organization, its Regions, Chapters, members, candidates, affiliates and staff) unless formally adopted by the national Board of Directors. Further, the Appraisal Institute has not peer-reviewed or approved the content of the Program and does not warrant the accuracy or timeliness of the content of the Program. The content of the Program is subject to court decisions and local, state and federal laws and regulations and any such revisions of such laws and regulations.

This Program is presented with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting or other professional advice or services. Nothing in the Program is to be construed as the offering of such advice or services. If expert advice or services are required, attendees and readers are responsible for obtaining such advice or services from appropriate professionals.