Webcast: Preparing Form 706: The Federal Estate Tax Return (CANW70616)
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When: 12/6/2016
8:30 AM until 4:00 PM
Where: Webcast
United States
Presenter: Keith Schiller, Esq.

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Acronym CANW70616
CPE 8 hours
Vendor CalCPA
Level Basic
Yellow Book No
Prerequisite Basic understanding of trusts and estate planning terminology.
Who should attend Attorneys, CPAs and tax practitioners who wish to understand the basics of preparing Form 706 returns.
Members $245
CPA Non-Members $375

The Member rate applies to LCPA members, reciprocal state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.


Review the basics of how to prepare a federal estate tax return (Form 706) and make the portability election for the estate of the deceased spouse in this course, which has been revised to focus on beginning estate tax return preparation. We'll dive into the portability of the deceased spousal unused exclusion amount, which is the fast-growing compliance opportunity for your clients. Moreover, the portability election can provide significant estate tax insurance for the surviving spouse and income tax insurance for beneficiaries. Gain a basic understanding of how to complete each of the schedules, make available elections, discuss the changes arising from the 2012 Tax Act and review the most recent edition of Form 706. We'll also discuss new income tax basis consistency reporting rules with the preparation of Form 706.

Note: A companion course, Advanced Issues: The Art of the Estate Tax Return, presents in-depth discussion of issues, tax-saving strategies and planning alternatives with Form 706 using the second edition of the instructor's book, "Art of the Estate Tax Return," published by Bloomberg BNA Books.

Materials are provided as an ebook.


  • Determine how to prepare each schedule to the estate tax return (Form 706).
  • Identify how to present returns to minimize audit risks.
  • Recognize protective and perfected refund claims with estate tax.
  • Determine portability elections to benefit from the deceased spousal unused exclusion amount (DSUEA).
  • Identify and discuss rules to deduct expenses and liabilities, including protective refund claims (and Schedule PC) and extra demands, as well as calendaring needed for your office.


  • Filing requirements, new forms and IRS return review procedures.
  • Estate tax return terminology.
  • Action steps upon receipt of the engagement to prepare Form 706.
  • When to use or eschew simplified reporting while making DSUEA elections.
  • Basis consistency rules and intergration with the Form 706.
  • QTIP elections with otherwise bypass/credit-shelter trusts.
  • Practice forms to attach to the estate tax return.
  • Marital deduction elections.
  • Practice tips for penalty avoidance.
  • Reporting elections: Sec. 6166, QTIP, reverse QTIP, QDOT, alternate value and Sec. 2032A.