2024 The Preparation of Form 706 and 709 - Line-by-Line

Overview

Navigating the challenges of estate and gift taxation can be overwhelming for practitioners, especially those lacking extensive experience in this field. In this comprehensive course, participants will undergo a practical exploration through the preparation of the Federal Forms 706 and 709 - line by line. Through hands-on instruction, attendees will gain invaluable insights into the complexities of tax compliance, equipping them with the skills and confidence needed to seamlessly integrate estate and gift tax preparation into their practice.

With a focus on practical application, this course offers participants a unique opportunity to master the preparation of crucial tax returns, enhancing their professional expertise and strengthening client service offerings. From a detailed overview of the Federal Forms 706 and 709 to insights on complying with "Portability" and navigating postmortem estate planning issues, attendees will emerge with a newfound proficiency in estate and gift tax preparation, ready to excel in their practice.

**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 kori.herrera@acpen.com.

Highlights

Federal Form 706: Overview and Preparation
Federal Form 709: Understanding and Compliance
Portability in Estate Tax Planning
Coordinating Issues for Decedent's Final Income Tax Return
Postmortem Estate Planning Strategies
Recent Legislative Changes: Impact on Estate and Gift Taxation
Integrating Tax Planning into Client Services

Prerequisites

None

Designed For

CPAs, EAs, financial planners, attorneys

Objectives

Identify the key components of estate and gift taxation, including Form 706 and Form 709
Describe the process of preparing Federal Forms 706 and 709 in detail
Discuss the importance of understanding tax compliance issues in estate and gift planning
Explain the significance of "Portability" and its implications in estate tax preparation
Recognize various postmortem estate planning considerations relevant to tax returns
Summarize the nuances involved in coordinating issues for the decedent's final income tax return
Analyze different strategies for optimizing estate and gift tax outcome
Evaluate the impact of recent legislative changes on estate and gift taxation practices
Discuss practical approaches for integrating estate and gift tax planning into client services