Special Gift Tax Issues (Completed)

Date: Tuesday, June 9, 2020
Instructor: Klaralee R. Charlton
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC
2 hours General Principles of Financial Planning for CFP

With the Gift and Estate Tax Exemption at an all time high, clients are beginning to make significant gifts to ensure they can use the temporarily increased exemption before they lose it. In this deep dive into gift tax we will examine key valuation issues, transfers to trusts, and estate inclusion risks. We will also analyze opportunities for protecting current and prior gifts from generation skipping tax, adequate disclosure issues, gifting of partnership interests, intentionally defective grantor trusts, and Crummey Trust best practices.

Who Should Attend
Attorneys, CPAs, Enrolled Agents

Topics Covered

  • Review of current gift and estate tax exemption laws
  • Overview of valuation issues encountered when preparing Form 709
  • Analysis of generation skipping tax reporting and tax saving opportunities
  • Examples of the best practices for Crummey Trust transfers
  • Description of opportunities for intentionally defective grantor trusts
  • Illustrations of adequate disclosure rules

Learning Objectives

  • Describe the gift tax filing requirements
  • Recognize the importance of gifting under the increased exemption rules
  • Identify opportunities to maximize generation skipping tax savings
  • Recognize and analyze the proper valuation and disclosure of a gift
  • Recognize how to recommend nontraditional gifting opportunities to clients


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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