The Preparation of Form 706 - Line-by-Line
Overview
Preparing Form 706 requires a detailed understanding of estate taxation, valuation rules, and compliance requirements. This course provides a step-by-step breakdown of Form 706, helping tax professionals accurately report estate taxes while ensuring compliance with IRS regulations. Participants will explore key components, including gross estate calculations, deductions, tax computation, and portability elections. With real-world examples and practical guidance, attendees will gain confidence in preparing Form 706, even in complex scenarios. This course will also cover any recent legislative changes introduced by the new administration and their impact on estate tax planning and compliance.
*Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Basic
Highlights
- Overview of Form 706 and estate tax fundamentals
- Gross estate valuation and inclusion rules
- Deductions, credits, and tax computation
- Portability election and its implications
- Filing deadlines and procedural requirements
- Common issues and IRS audit triggers
- Legislative changes affecting estate taxation
Prerequisites
None
Designed For
CPAs, EAs, and tax professionals
Objectives
- Identify the key sections of Form 706 and their purpose.
- Accurately report estate assets and deductions.
- Analyze the impact of portability elections on estate tax.
- Determine tax liability and apply relevant tax credits.
- Evaluate the requirements for filing and payment deadlines.
- Discuss estate valuation techniques and compliance issues.
- Address common errors and audit triggers in estate tax returns.
- Understand how Form 706 interacts with other tax filings.
- Assess how new legislation affects estate tax reporting and compliance.
Preparation
None
Leader(s):
Leader Bios
Arthur Werner, Werner-Rocca Seminars, LTD
Art Werner is currently a shareholder in and is the President of the lecture firm Werner - Rocca Seminars, Ltd. Mr. Werner’s areas of expertise include business, tax, financial, and estate planning for high net worth individuals.
In addition, Mr. Werner is an adjunct professor of taxation in the Master of Science in Taxation program at the Philadelphia University located in Philadelphia, Pennsylvania.
Mr. Werner received his B.S. in Accounting and his M.S. in Taxation from Widener University. He holds a J.D. in Law from the Delaware Law School.
Mr. Werner lectures extensively in the areas of Estate Planning, Financial Planning, and Estate and Gift Taxation to Certified Public Accountants, Enrolled Agents, Insurance Agents, and Financial Planners, and has presented well in excess of 2,000 eight-hour seminars over the past 20 years. Over the past 20 years, Mr. Werner was rated as having the highest speaker knowledge in his home state of Pennsylvania by the Pennsylvania Institute of Certified Public Accountants, was awarded the AICPA Outstanding Discussion Leader Award in the State of Nevada, the Florida Institute of CPAs Outstanding Discussion Leader Award, and the South Carolina Association of CPAs Outstanding Discussion Leader Award.
Non-Member Price $129.00
Member Price $99.00