Webcast: Preparing Form 706: The Federal Estate Tax Return

Review the basics of how to prepare a federal estate tax return (Form 706) and how to make the portability election for the estate of the deceased spouse. Due to popular demand, this course has been revised to focus solely on beginning estate tax return preparation, while 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.

Form 706 is fundamentally an accrual return with special rules to calculate the gross and net estate. For most taxpayers, Form 706 is the most significant tax return they will file. Moreover, the portability election can provide significant estate tax insurance for the surviving spouse and income tax insurance later beneficiaries. The IRS has made the election easier and less expensive for many estates. Gain a basic understanding of how to complete each of the returns, elections and schedules. Additionally, in this course you'll discuss the changes arising from the 2012 Tax Act and review the most recent edition of Form 706.