The Complete Guide to Preparing Forms 706 and 709

Overview

The preparation of Forms 706 (Federal Estate Tax Return) and 709 (Federal Gift Tax Return) requires specialized knowledge and precision. This comprehensive course equips tax professionals with the essential skills and insights necessary to accurately prepare these forms while adhering to tax regulations. Participants will gain a complete understanding of estate and gift tax reporting, ensuring compliance with federal requirements.

This course also covers key issues related to the decedent’s final income tax return and postmortem estate planning. By the end of the course, participants will be able to confidently manage the complexities involved in preparing Forms 706 and 709.

Objectives

At the end of this course, you will be able to:

Prepare Form 706 (Federal Estate Tax Return) accurately.

Prepare Form 709 (Federal Gift Tax Return) accurately.

Apply the rules of portability when preparing estate and gift tax returns.

Identify key postmortem estate planning issues relevant to estate and gift taxation.

Apply estate and gift tax regulations to ensure accurate reporting.

Report estate taxes (Form 706) and gift taxes (Form 709) in various complex scenarios.

Prepare the decedent's final federal income tax return (Form 1040).

Analyze how estate and gift taxation impact overall estate planning strategies.

Highlights

Preparation of the federal estate tax return (Form 706)

Preparation of the federal gift tax return (Form 709)

Understanding and applying "portability" in estate tax returns

Key issues in preparing the decedent's final federal income tax return (Form 1040)

Postmortem estate planning considerations for estate and gift taxes

Comprehensive understanding of estate and gift taxation

Designed For

CPAs, EAs, and attorneys

Prerequisites

None

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Arthur Werner, President, Werner-Rocca Seminars, Ltd.

Leader Bios

Arthur Werner, President, 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 a former 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 more than 3000 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.

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