The topics covered are a major hotbed of liability for tax practitioners. Learn about your exposure and what to avoid.
The estate return (706) is often the most important tax return you will ever file for your clients. The dollars involved often dwarf other returns and the IRS audit rate of these returns is ten fold that of other returns. Learn key tips on what to do and what not to do when you prepare the 706.
Learn about the marital deduction, the QTIP election and other key first spouse death considerations. The first death 706 return is usually a tax-free return. Learn common mistakes, which force a first death tax liability and how to avoid these mistakes. On large estates, learn how paying tax at the first death can create massive savings to the overall estate.
The seminar will provide extensive coverage of estate tax deductions including accrued expenses, administration expenses and carrying cost.
Topics also include the tax impact of the basis of various assets in an estate / trust, grantor trusts, final 1040 and estate / trust distributions.
Detailed comprehensive 706 work cases with the completed 706 forms including supporting schedules and attachments are provided and covered in the class.
Dates & Locations
