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Gift Tax Returns: Form 709

by: Western CPE Western CPE
Preparing gift tax returns (Form 709s) certainly seems relatively simple, especially when compared to 1040 income tax returns--but be wary! There are lots of traps and pitfalls for the uninformed. Join us as Robert Keebler, a nationally renowned tax expert, explains how to avoid common pitfalls, unnecessary penalties, and accrued interest with a line-by-line examination of Form 709. Course highlights include: -When to file returns -How to avoid missing revenue you should be earning -What should you should or should not disclose on the return -What constitutes 'adequate disclosure' so you can 'toll' the statute of limitations -When and how to report installment sales, loans and private annuities -Reporting split-interest gifts like GRATs, QPRTs, and CRTs -Front-loaded 529 plan -Annual exclusion rules for gifts to trusts including required Crummey notices -Valuations and valuation discounts for gifts of closely-held businesses
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