[WEB] The Line-by-Line Preparation of Federal Form 706 & 709

Description

LINK AND INSTRUCTIONS TO COME FROM HSCPA ONE DAY PRIOR TO SESSION

Properly completing federal estate and gift tax returns is essential for tax professionals advising clients on wealth transfer and estate planning. This course provides a focused, step-by-step guide to preparing Form 706 (Federal Estate Tax Return) and Form 709 (Federal Gift Tax Return). Attendees will gain hands-on knowledge of key reporting requirements, valuation considerations, and tax planning strategies. The course ensures compliance with federal regulations while helping practitioners efficiently complete these forms.   

Highlights

• Line-by line preparation of Form 706 and Form 709
• Federal estate and gift tax regulations
• Valuation rules and deduction considerations
• Portability compliance and estate tax elections
• Common issues in estate and gift tax return preparation
• Coordination with the decedent's final  income tax return (Form 1040)
• Postmortem estate planning strategies
• Best practices for accurate tax reporting and compliance

Objectives

Upon completing this course, participants will be able to:

• Accurately complete Form 706 and 709.
• Identify the necessary information and documentation for estate and gift tax reporting.
• Apply IRS guidelines for valuation and deductions.
• Understand portability elections and their impact on estate taxation.
• Analyze key filing requirements and common errors to avoid.
• Determine tax compliance strategies for estates and gifts.
• Coordinate Form 706 with the decedent's final federal income tax return (Form 1040).
• Utilize postmortem estate planning techniques to optimize tax outcomes.

Designed For

CPAs, EAs, and attorneys