Federal Fiduciary Income Tax Workshop: Including Related Illinois Fiduciary Income Tax Issues
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Before undertaking any on-demand effort, you should review the rules of your licensing/certifying entity.
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**AIA credit is not available in USB format.
Streamable MP4/PDF
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USB MP4/PDF
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Agenda
Webinar instructions will be emailed 24-48 business hours before the date of the webinar.
Please log into the webinar 10-15 minutes before start time.
Thursday, May 21, 2026
8:30 am – 4:40 pm CDT
In-Person Seminar Location
Hyatt Place Chicago – Lombard/Oak Brook
2340 South Fountain Square Drive, Lombard, IL 60148
(630) 932-6501
Agenda:
Presented by Christian A. Klaas, CPA, MST and Ryan Wirtz, CPA, MST
Trusts and Estates Overview Including Tax Considerations
- Basic framework for typical estate plan
- Taxation of estates: estate tax overview
- Taxation of estates: income tax overview
- Taxation of trusts overview
- Grantor trusts: income tax overview
- Various unique types of trusts
Principles of Fiduciary Income Taxation
- Trust accounting income
- Distributable net income
- Simple trusts
- Complex trusts
- Special rules
Income Taxation of Estates and Simple and Complex Trusts
- IRS Form 1041, line by line
- Income
- Dividends
- Capital gains
- Other income
- Expenses and deductions
- Credits
- Alternative minimum tax (AMT)
- Other concepts from Form 1041 and schedules
Practical Examples to Put It All Together
- Section 642(c) election example
- QSST example
- Simple and complex trust examples
- Grantor trust example
- Final year example
Illinois State Fiduciary Income Tax Return
- Illinois tax considerations
- Preparing and filing IL-1041
Webinar Instructions
All attendees must log-on through their own email – attendees may not watch together if they wish to earn continuing education credit. HalfMoon Education Inc. must be able to prove attendance if either the attendee or HalfMoon Education Inc. is audited.
Certificates of completion can be downloaded in PDF form upon passing a short quiz. A link to the quiz will be sent to each qualifying attendee immediately after the webinar. The certificate can be downloaded from the Results page of the quiz upon scoring 80% or higher.
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Windows 10 or higher, macOS 11 or higher, Linux, Google Chrome OS
Web Browser:
Google Chrome (most recent 3 versions)
Microsoft Edge (most recent 3 versions)
Internet connection: 1 Mbps or better
Hardware: 2GB of RAM (minimum), 4GB or more of RAM (recommended)
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Credits
Accountants
8.0 CPE Credits
Attorneys
6.5 IL MCLE Hours
IRS Enrolled Agents
8.0 CE Credits
CFP Board - Certified Financial Planner Board of Standards
8.0 CE Hours (Tax Planning)
Continuing Education Information
This course is open to the public and offers accountants 8.0 CPE credit hours (based on 50-minute hours) of intermediate-level group internet-based or group live CPE credits in the area of taxation. Knowledge in federal taxation is beneficial, and no advance preparation is recommended. NASBA Sponsor No. 103015.
HalfMoon Education Inc. 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.
This course offers 8.0 continuing education credit hours for IRS enrolled agents and other tax return preparers under Treasury Department Circular #230 Section 10.6(g). HalfMoon Education Inc. is a CFP Board-registered continuing education sponsor. The Certified Financial Planner Board of Standards, Inc. has granted 8.0 continuing education credit hours to the course.
This webinar has been approved by the MCLE Board of the Supreme Court of Illinois for 6.5 MCLE general credit hours.
Attendance will be monitored, and attendance certificates will be available after the webinar for those who attend the entire course, respond to prompts, and score a minimum 80% on the quiz that follows the course (multiple attempts allowed).
*On-Demand Credits*
The preceding credit information only applies to the live presentation. This course in an on-demand format is not pre-approved by any organizations or licensing boards.
Speakers
Christian A. Klaas, CPA, MST
Partner at Friedman & Huey Associates LLP in Frankfort, ILMr. Klaas is a partner at Friedman & Huey Associates, LLP. He specializes in fiduciary, estate and individual income taxation and working with large family groups. Mr. Klaas taught as an undergraduate/graduate tax instructor at Purdue University Northwest. He received his B.S. degree with concentrations in Accounting and Finance from Purdue University Northwest and received his M.S. degree in Taxation from DePaul University. He has spoken on various occasions presenting on taxation of decedents, estates and trusts. Mr. Klaas serves as a 1041 subject matter expert for a national tax software development firm, has edited various professional publications and is an active member of the Chicago Estate Planning Council, Illinois CPA Society, and AICPA.
Ryan Wirtz, CPA MST
Principal at Friedman & Huey Associates LLP in Frankfort, ILMr. Wirtz is a principal at Friedman & Huey Associates, LLP. He specializes in fiduciary, charitable and individual income taxation and working with large family groups. Mr. Wirtz received his B.S. degree in Accounting from Purdue University Northwest and received his M.S. degree in Taxation from DePaul University. He also is member of the Illinois CPA Society.
6.5 Knowledge Points
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