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AICPA & CIMA ENGAGE 2021


EST2110 - EST2110. Advanced 709 Form Issues


Jul 27, 2021 8:00am ‐ Jul 27, 2021 9:15am

Description

Gift tax returns when filed with "adequate disclosure" provide a golden opportunity reduce audit issues and exposure on a federal estate tax return and most likely avoid later-life surprises for increases in gift tax liability. The session provides examples for effective gift tax reporting in addition to review of the applicable law and rules. After reviewing the demands and importance of adequate disclosure, this session will review practical return preparation preliminary actions; how Schedule A of the Form 709 integrates with GST reporting; fixed-dollar formula gift disclosures;  engagement agreements with appraisers; informing the appraiser what to value; reporting GRATs; reporting transfers subject to ETIPs and when the ETIP ends; and reporting with Crummey gifts, among other topics. 

Learning Objectives:

1. Learn effective election statements to include for optimum GST exemption elections (or elections out)

2. How to used the deceased spousal unused exclusion amount on gift tax returns and special disclosures needed

3. Ask questions and receive answers to practical questions for your Form 709 preparation practice.

4. Learn advanced techniques to prepare a more effective gift tax return for your clients

Learning Objectives:
  • Learn effective election statements to include for optimum GST exemption elections (or elections out)
  • How to used the deceased spousal unused exclusion amount on gift tax returns and special disclosures needed
  • Ask questions and receive answers to practical questions for your Form 709 preparation practice.
  • Learn advanced techniques to prepare a more effective gift tax return for your clients

Speaker(s):

  • Keith Schiller, Certified Specialist if Taxation Law by the California State Bar/Author of, Attorney-Shareholder, Schiller Law Group
Tags: EST
Category: Concurrent Session Onsite and Online

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