The Preparation of Form 706 and 709 – Understanding the Law, Line-By-Line
Total Credits: 6 including 6 Taxes - Technical
- Average Rating:
- 141
- Categories:
- ACPEN Industry Institute | ACPEN Tax Institute | Tax
- Faculty:
- Arthur Werner
- Course Levels:
- Basic
- Duration:
- 6 Hours
- License:
Tags: Crucial Tax Topics
Description
Tax compliance issues in estate and gift taxation are sometimes confusing to practitioners because many lack experiences in this area. This course, is a the entire 2-part series (6 CPE hours in total). It provides the practitioner with a practical understanding of Federal estate and gift tax law, as well as provide the practitioner with a “hands-on” understanding as to how to prepare both the Federal Form 706 (Estate Tax return) and the Federal Form 709 (Gift Tax return) line by line. Emphasis will be given on the various of the Internal Revenue Code Sections that deal with this topic (income taxation of estates and trusts). Mastering these sections of the Internal Revenue Code areas will allow the practitioner to start their understanding of tax compliance in preparing Federal Forms 706 and 709 and gain confidence in preparing these difficult tax returns.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
Basic Course Information
Major Subjects- Understanding the basics of Estate and Gift Taxation
- Understanding valuation of assets
- Understanding what constitutes the “Gross Estate”
- Understanding the various deductions (funeral and administrative expenses)
- Understanding debts Understanding the charitable deduction
- Understanding the marital deduction
- Understanding the calculation and the various tax credits
- Overview of the Federal Form 706
- Overview of the Federal Form 709
- How to prepare a federal estate tax return (Form 706)
- How to prepare a federal gift tax return (Form 709)
- How to comply with “Portability”
- Coordination of the various issues involved in the preparation of the decedent’s final federal income tax return (Form 1040)
- Various postmortem estate planning issues involved in the preparation of the above-mentioned tax returns
Learning Objectives
- To provide an overview and guide to understanding Federal Estate and Gift Taxation so that a practitioner will able to successfully prepare Internal Revenue Service Forms 706 and 709.
- To provide a line-by-line understanding of the tax compliance issues in preparing the Federal Forms 706 and 709 so that the practitioner will able to successfully add this compliance are to their practice
Course Materials
| Important CPE Credit Information_READ BEFORE WEBCAST UPDATED (0.47 MB) | Available after Purchase | ||
| Understanding The Law Slides Handout (1.6 MB) | Available after Purchase | ||
| Line By Line Slides Handout (2 MB) | Available after Purchase | ||
| Form 706 (875.3 KB) | Available after Purchase | ||
| Form 709 (250.8 KB) | Available after Purchase | ||
| IRS CE Credit Request Form (137 KB) | Available after Purchase | ||
| The Preparation of Form 706 and 709_Q&A (21.4 KB) | Available after Purchase | ||
Faculty
Arthur Werner Related Seminars and Products
Werner-Rocca Seminars, Ltd.
Arthur Joseph Werner, JD, MS (Taxation), is the president and is a shareholder in the lecture firm of Werner-Rocca Seminars, Ltd. Mr. Werner’s lecture topic specialties include business, tax, financial and estate planning for high net worth individuals. In addition, Mr. Werner is an adjunct professor of taxation in the Master of Science in Taxation program at the Philadelphia University. Mr. Werner received his B.S. in Accounting and his M.S. in Taxation from Widener University. He holds a J.D. in Law from the Delaware Law School.
Mr. Werner lectures extensively in the areas of Estate Planning, Financial Planning, and Estate and Gift Taxation to Certified Public Accountants and Financial Planners, and has presented well in excess of 2500 eight-hour seminars over the past twenty-five years as well as numerous webinars and video presentations. Mr. Werner has been rated as having the highest speaker knowledge in his home state of Pennsylvania by the Pennsylvania Institute of Certified Public Accountants, was awarded the AICPA Outstanding Discussion Leader Award in the State of Nevada, the Florida Institute of CPAs Outstanding Discussion Leader Award, and the South Carolina Association of CPAs Outstanding Discussion Leader Award.
Additional Info
Basic Course Information
PrerequisitesNone
Advanced Preparation
None
Designed For
CPAs, EAs, attorneys, and other tax professionals
Yellow Book
No
Course Developer
Arthur Werner
Date Added to Catalog
09/07/2021
Original Recording Date
08/24/2021
Additional Information
Complaint Resolution PolicyPlease contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement
Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method
Group Internet Based
Course Registration Requirements
Online Registration
Refund/Cancellation Policy
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Promo Video
Reviews
| 5 |
|
| 4 |
|
| 3 |
|
| 2 |
|
| 1 |
|