Webcast: Form 709: Gift Tax Returns (CAF70915)
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Failure to properly comply with gift tax requirements can cause estate tax problems down the road. Review the fundamentals of gift tax law, preparation of Form 709, GST reporting on Form 709 and practical approaches to adequate disclosure and gift tax audits. We'll also discuss recent legislation and reported judicial decisions related to the gift, estate and GST taxes. The use of and importance of valuation planning will also be covered.

12/8/2015
When: 12/08/2015
8:30 AM until 4:00 PM
Where: Webcast
Louisiana
United States
Presenter: Charles W. Morris


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Registration Fees
Members $275
Non-Members $375

CPE: 8 hours
Level: Basic
Vendor: CalCPA
Category: Taxation
Prerequisites: None
Advanced prep: None

Who should attend: CPAs, attorneys, enrolled agents and practitioners with some experience in estate planning or who desire additional knowledge.

Failure to properly comply with gift tax requirements can cause estate tax problems down the road. Review the fundamentals of gift tax law, preparation of Form 709, GST reporting on Form 709 and practical approaches to adequate disclosure and gift tax audits. We'll also discuss recent legislation and reported judicial decisions related to the gift, estate and GST taxes. The use of and importance of valuation planning will also be covered.

Objectives

  • Determine the operation of and significant issues under federal gift tax laws.
  • Identify how to prepare Form 709.
  • Recognize the GST tax, including rules of GST exemption allocation to gifts.
  • Identify the adequate disclosure requirements with Form 709 filing.
  • Recall hot topics under gift tax law, including GRATs, sales to defective trusts, decanting, rescission and fair market value concepts, including valuation discounts.

 



Major Topics
  • Complete and incomplete transfers
  • Principles of gift tax law
  • Instruction on completing Form 709
  • Annual exclusion gifts
  • Generation Skipping Transfer tax
  • Reporting GRATS, family loans and 529 plan elections
  • Accomplishing adequate disclosure, running the assessment period and impact on the estate tax
  • Exemption portability
  • Valuation of assets
  • Selection of and working with appraisers
  • Carryover basis, modified carryover basis and basis step-up rules
  • Case examples