The Preparation of Form 706 and 709 - Understanding the Law


October 04, 2022


Steven G. Siegel

  01:00 PM ET | 12:00 PM CT | 10:00 AM PT | 240 Minutes

* Not able to attend the live session? We can arrange an on-demand session for You. Please call 1-‪814-892-0304


Tax compliance issues in estate and gift taxation are sometimes confusing to practitioners because many lack experiences in this area. This webinar, is a the entire 2-part series (4 CPE hours in total).  It provides the practitioner with a practical understanding of Federal estate and gift tax law, as well as provide the practitioner with a “hands-on” understanding as to how to prepare both the Federal Form 706 (Estate Tax return) and the Federal Form 709 (Gift Tax return) line by line.  Emphasis will be given on the various of the Internal Revenue Code Sections that deal with this topic (income taxation of estates and trusts).    Mastering these sections of the Internal Revenue Code areas will allow the practitioner to start their understanding of tax compliance in preparing Federal Forms 706 and 709 and gain confidence in preparing these difficult tax returns.

Learning Objectives

  • To provide an overview and guide to understanding Federal Estate and Gift Taxation so that a practitioner will able to successfully prepare Internal Revenue Service Forms 706 and 709.
  • To provide a line-by-line understanding of the tax compliance issues in preparing the Federal Forms 706 and 709 so that the practitioner will able to successfully add this compliance are to their practice
  • Review in detail the mechanics of preparing Forms 706 and 709

Session Highlights:

  • Understanding the basics of Estate and Gift Taxation
  • Understanding valuation of assets
  • Understanding what constitutes the “Gross Estate”
  • Understanding the various deductions (funeral and administrative expenses)
  • Understanding debts Understanding the charitable deduction
  • Understanding the marital deduction
  • Understanding the calculation and the various tax credits 
  • Overview of the Federal Form 706
  • Overview of the Federal Form 709
  • How to prepare a federal estate tax return (Form 706)
  • How to prepare a federal gift tax return (Form 709)
  • How to comply with “Portability”
  • Coordination of the various issues involved in the preparation of the decedent’s final federal income tax return (Form 1040)
  • Various postmortem estate planning issues involved in the preparation of the above-mentioned tax returns   

Who Should Attend 

This course is essential for CPAs, CFPs, enrolled agents, estate planners, tax attorneys and other professionals who advise clients on tax, retirement and estate planning, and other wealth management matters.

Credits and Other information:

  • Recommended CPE credit – 4.0 Tax Hours
  • Recommended field of study – Tax
  • Session Prerequisites and preparation: None
  • Session learning level: Basic to Intermediate
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • NASBA Sponsor: 138804
  • IRS Course ID: DFFSC
  • Attendance Requirement:  Yes
  • Session Duration: 4 Hours
  • Case Studies and Live Q&A session with speaker
  • PowerPoint presentation for reference

Download Conference Material

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Download Conference Material Part-2

Download Handouts

Pioneer Educator 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: