Preparing Forms 706 and 709 - Understanding the Issues (2 hours)

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Aug 5, 2020

Registration: 6:00 AM / Program: 6:30 AM - 8:10 AM Pacific Time

Fees

Member Fee: $79.00
Nonmember Fee: $109.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

Tax compliance issues at death are sometimes confusing to practitioners because many lack experience in this area. This course provides you with a practical understanding of the issues involved in preparing the federal estate tax return, Form 706; the federal gift tax return, Form 709; and the decedent’s final federal income tax return, Form 1040.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Designed For

CPAs, EAs, and attorneys

Objectives

* Understand the Internal Revenue Code sections dealing with Forms 706 and 709

* Describe what constitutes a gross estate

* Describe what constitutes deductions

* Describe what constitutes an incomplete gift

* Identify the basic issues as they relate to tax compliance

Major Subjects

* How to prepare a federal estate tax return (Form 706)

* How to prepare a federal gift tax return (Form 709)

* How to comply with “Portability”

* Issues involved in the preparation of the decedent’s final federal income tax return

(Form 1040)

* Various postmortem estate planning issues involved in the preparation of the

above-mentioned tax returns

* Complete understanding of estate and gift taxation