News
Carl King Speaks on “Final Basis Consistency Regulations” at American College of Trust and Estate Counsel Event
Sep 24 2024
Carl King, a member of Womble Bond Dickinson’s Private Wealth team, presented on the Final Basis Consistency Regulations under Treas. Reg. 1.1014(f)-1 and 1.6035-1 at the American College of Trust and Estate Counsel’s (ACTEC’s) Fall National Meeting in Chicago.
The U.S. Treasury finalized the regulations on Tuesday Sept. 17, 2024. Carl presented just four days later on Sept. 21. Carl was tapped as a thought leader because in 2016, he co-authored the American Bar Association’s official Comments to the Proposed Basis Consistency regulations.
In its final regulations, the Treasury adopted many of the ABA’s suggested revisions, significantly improving the reach of the regulations and limiting the proposed expansive reporting requirements for the benefit of fiduciaries and taxpayers, including the estates of the wealth families the firm represents.
