Course Library
Gift Tax Returns: Form 709
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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