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An In-Depth Understanding of the Generation Skipping Transfer Tax

 Fri, 05/22/2026 from 3:00 pm to 4:51 pm
 
2.0
27 / 2-30006
Registration is Open
Member Price
$79.00 Regular Registration
Your Price
$109.00 Regular Registration
Designed For:

CPAs, EAs, and tax professionals

Prerequisite:

General understanding of estate and gift tax concepts

This course provides a focused and practical overview of the Generation Skipping Transfer (GST) Tax, designed specifically for professionals involved in estate and gift tax planning. As Part 4 of the Form 706 and 709 series, this session zeroes in on the rules, definitions, and application of GST tax, including the mechanics of calculating the inclusion ratio and how the GST exemption operates in real-world planning scenarios. Participants will gain clarity on how to identify skip persons, the types of transfers subject to the GST tax, and the proper treatment of direct skips, taxable terminations, and taxable distributions. Through clear examples and practical instruction, this course walks participants through voluntary, timely, late, and retroactive GST exemption allocations. With increasing regulatory complexity and heightened exemption limits, understanding the GST tax is critical for practitioners assisting clients in multigenerational wealth transfers. This course supports more accurate return preparation and strategic allocation of exemptions to minimize tax exposure.

*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 [email protected]

Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Basic

Sponsors

For Technical Support: 
Please contact the ACPEN Help Desk at (877) 602-9877, [email protected]   or visit https://vscpa.acpen.com/Support/. The Help Desk is available by phone 24/7, 365 days a year. Allow 1 business day for email

Objectives

  • Identify the different types of transfers subject to the GST tax
  • Define key GST tax terms including skip person, direct skip, and inclusion ratio
  • Recognize the tax implications of taxable terminations and taxable distributions
  • Apply the GST exemption to minimize or eliminate GST tax liability
  • Differentiate between timely, late, and retroactive GST exemption allocations
  • Describe the rules for voluntary GST exemption allocation during lifetime transfers
  • Explain how formula allocations help achieve optimal inclusion ratios
  • Determine how GST tax affects trust planning and multigenerational wealth transfers

 

Speakers

Advanced Preparation

None

Vendor

The Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.