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Live Webcast Replay

The Preparation of Form 706 and 709 – Understanding the Law, Line-By-Line


Total Credits: 6 including 6 Taxes - Technical

Average Rating:
   112
Categories:
ACPEN Industry Institute |  ACPEN Tax Institute |  Tax
Faculty:
Arthur Werner
Course Levels:
Basic
Duration:
6 Hours
License:
Product Setting: Expires 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.



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

Faculty

Arthur Werner's Profile

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.


Dates

Wed, Mar 13, 2024 - 10:00am to 03:33pm MDT
Fri, Mar 22, 2024 - 08:00am to 01:33pm MDT
Fri, Apr 05, 2024 - 08:00am to 01:33pm MDT
Sat, Apr 13, 2024 - 10:00am to 03:33pm MDT
Fri, Apr 19, 2024 - 08:00am to 01:33pm MDT
Thu, May 02, 2024 - 11:00am to 04:33pm MDT
Fri, May 17, 2024 - 08:00am to 01:33pm MDT
Fri, May 31, 2024 - 08:00am to 01:33pm MDT
Sat, Jun 01, 2024 - 11:00am to 04:33pm MDT
Fri, Jun 07, 2024 - 08:00am to 01:33pm MDT
Tue, Jun 18, 2024 - 02:00pm to 07:33pm MDT
Mon, Jun 24, 2024 - 10:00am to 03:33pm MDT

Additional Info

Basic Course Information

Prerequisites

None


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 Policy

Please 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

Overall:      4.7

Total Reviews: 112

Comments

Patricia M

"Good Information"

Lisa H - Owings Mills, Maryland

"Great course."

Janet W - Ventura, California

"Great presentation; very helpful as I unexpectedly had 3 estate tax returns & 1 gift tax return to prepare and hadn't looked at a 706 in about 20 years"

Cathryn C

"Art is an excellent speaker! Holds my attention!"

Lorne E - POCATELLO, Idaho

"Good course!"

Edwin R

"Great instructor!"

Jose R

"EXCELLENT PRESENTATION"

Jennifer B

"I thought this course was very helpful and I came away with some new information. "

Deborah Lynn T

"This course was well done and I enjoyed the speaker. His knowledge of the subject made the course very interesting."

Trystan M

"Great explanations and examples. I have prior knowledge, but think its a good course for introducing it as well"