Description
Stay uptodate on when and how to file Form 706, and learn how to reduce future transfer taxes for your clients.
While the federal estate tax exclusion is currently high (over 12M), it is scheduled to decrease on January 1, 2026. Many estates are still required to file an IRS Form 706 (either because it is a taxable estate or it is a first death and you want to preserve portability for the surviving spouse), and many more will be required to file beginning in 2026. There are many pitfalls that even the most skilled and experienced practitioner falls into and common mistakes that befall us all. This presentation will help practitioners who prepare and file IRS Form 706s understand and recognize such common pitfalls and mistakes in order to submit an accurate IRS 706. We will review a simplified 706 and a full 706 to discuss the differences and which form is better suited for your client.
Date: 2022-10-26 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to discuss the importance of a good 706.
* You will be able to explain the need for proper valuations and other supporting documents.
* You will be able to recognize the difference between a simplified form and a regular 706.
* You will be able to review the reasons to file with the client.