Mobile Edition

Preparing Form 706: The Federal Estate Tax Return (4171360D)

Date:Monday, December 18, 2017
Time:11:30AM - 7:30 PM
(Registration at 11:00AM)
Facility:Webcast or Webinar, Online
CPE Credit:8.0 Technical Business
Instructor: Keith Schiller
Vendor:California CPA Education Foundation
Course Level:Basic
Early Bird Price:$245.00 FICPA Members, $365.00 Non-Members


In this revised course, review the basics of preparing a federal estate tax return (Form 706) and making the portability election for the estate of the deceased spouse. Learn about the portability of the deceased spousal unused exclusion amount, which is a fast-growing compliance opportunity for your clients; how the portability election can provide significant estate tax insurance for the surviving spouse and income tax insurance for beneficiaries; and how to complete each of the schedules, make available elections, discuss the changes arising from the 2012 Tax Act and review the most recent edition of Form 706. Also, review the new income tax basis consistency reporting rules with the preparation of Form 706.

Note: A companion course, Advanced Issues: The Art of the Estate Tax Return, presents in-depth discussion of issues, tax-saving strategies and planning alternatives with Form 706 using the instructor's book, Art of the Estate Tax Return (2nd ed.), Bloomberg BNA Books.

  • Determine how to prepare each schedule to the estate tax return (Form 706).
  • Identify how to present returns to minimize audit risks.
  • Recognize protective and perfected refund claims with estate tax.
  • Determine portability elections to benefit from the deceased spousal unused exclusion amount (DSUEA).
  • Identify and discuss rules to deduct expenses and liabilities, including protective refund claims (and Schedule PC) and extra demands, as well as calendaring needed for your office.

Major Topics:
  • Filing requirements, new forms and IRS return review procedures.
  • Estate tax return terminology.
  • Action steps upon receipt of the engagement to prepare Form 706.
  • When to use or eschew simplified reporting while making DSUEA elections.
  • Basis consistency rules and integration with the Form 706.
  • QTIP elections with otherwise bypass/credit-shelter trusts.
  • Practice forms to attach to the estate tax return.
  • Marital deduction elections.
  • Practice tips for penalty avoidance.
  • Reporting elections: Sec. 6166, QTIP, reverse QTIP, QDOT, alternate value and Sec. 2032A.

Who Should Attend:

Attorneys, CPAs and tax practitioners who wish to understand Form 706 return preparation basics.

Basic understanding of trusts and estate planning terminology.

Advanced Preparation:


If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.