Since the early 2000s, the estate tax burden on taxpayers has gradually decreased along with the number of practitioners specializing in the field. Nevertheless, some of your most wealthy clients will have a taxable estate.
DESIGNED FOR
Any tax practitioner who wishes to understand how to assist clients with filing a federal gift tax return
BENEFITS
- Understand how to file a simple gift tax return
HIGHLIGHTS
- Taxpayers who do not file gift tax returns but should
- The annual exclusion rules for gifts to trusts including required Crummey notices
- What should be disclosed on the return for purposes of running the statute of limitations
- The reporting of installment sales and split-interest
- Valuations and valuation discounts for gifts of closely held businesses
- The utilization of Generation Skipping Transfer Tax and the related automatic allocation rules
- Reporting the use of a deceased spouse’s unused exclusion exemption amount (DSUEA)
- A line-by-line explanation of Form 709
COURSE LEVEL
Advanced
PREREQUISITES
Basic understanding federal income and transfer taxes.
ADVANCE PREPARATION
None