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Gift Tax Return Bootcamp on Steroids (This is not “Basic Training") - VIRTUAL



Registration Open:

8:15 AM - 8:30 AM


8:30 AM - 12:00 PM



Meeting Type:


CPE Credit:


Field(s) Of Study:

Taxes (4.00)

Level of Knowledge:



Member: $210.00
Nonmember: $295.00

Discounts available:

$25.00 Early Bird discount available until 05/20/2021


Gift tax return (IRS Form 709) preparation is more complicated than it might appear at first blush. Many public accounting firms assign the preparation of these returns to interns and junior staff members, because on the surface Form 709 appears to be a low risk nuisance. There is nothing farther from the truth. This workshop will look in-depth at the preparation and review of IRS Form 709. Among the topics covered:

  • Recognizing and reporting Present Interest gifts (how to read Crummey Withdrawal Provisions);
  • Reporting transfers of Life Insurance Policies;
  • Identifying gifts can and can't be split with the spouse;
  • When not to split gifts;
  • Understanding the impact of spreading Section 529 Gifts over five years;
  • Adequate disclosure, what transfers to report and how much supporting information;
  • Using the Deceased Spouse's Unused Exemption (DSUE)
  • Allocating GST Exemption to gifts in Trust;
  • Who to allocate GST when there is an Estate Tax Inclusion Period (ETIP)
  • Planning around ETIP

We will look at the issues involved and we will walk through sample language regarding how these items should be reported on Form 709.