IRS Form 709: The Federal Gift Tax Return


Sep 06,2022

PRESENTER(s): Monica Haven

1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 120 Minutes
  • Webinar Instruction will be emailed on your registered email address 3 days prior to webinar
  •  | 
  • Web Download / e-Transcript will be shared in 7 working days from the date of webinar

Oft ignored by the unwitting taxpayer and overlooked by the practitioner, gift tax returns are left unfiled.  Find out when these returns are due and how to prepare them.  This course will take an in-depth look at a hypothetical client who has made multiple gifts over a period of years, and now seeks your help to comply with all tax reporting requirements.

Many taxpayers made gifts in the last year to transfer substantial assets at little to no Federal gift tax cost to take advantage of the significant federal gift tax exclusion. Proper compliance with the complex gift tax rules remains necessary to protect and preserve the advantage of the current exclusion levels. There is also the threat of coming law changes to reduce the available exclusions.

Session Highlights:
Upon completion of this course, you will be able to:
  • Recognize the three elements that make a gift a “gift”.
  • Identify which gifts are subject to tax.
  • Understand the difference between the gift tax exclusion and the exemption.
  • Employ special rules provided for by the gift tax regime that apply to donor spouses, non-resident aliens and expatriates.
  • Complete Form 709 based on step-by-step instructions and practice pointers provided by an experienced professional.

Learning Objectives:

  • This session will answer What constitutes a gift? Are all gifts taxed?
  • What s the difference between the exclusion and the exemption?
  • What are the filing requirements for Form 709? Who is liable for the tax?
  • How does the gift tax impact the estate & GST tax regimes?
  • How is the tax computed? What taxpayer information is needed?

Credits and Other information:

  • Recommended CPE credit – 2.0
  • Recommended field of study – Tax
  • Session Prerequisites and preparation: None
  • Session learning level: Basic
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • IRS Course ID: PJGWS
  • Attendance Requirement:  Yes
  • Session Duration: 2 Hours
    • Case Studies and Live Q&A session with speaker
    • PowerPoint presentation for reference

Who Will Benefit:

  • CPA's
  • Tax Attorneys
  • Accountants
  • Tax Compliance Managers
  • Other Tax Professionals
Speaker Profile:
Monica Haven, E.A., J.D. has a Masters in Taxation (LL.M.) and is a graduate fellow and former faculty member of the National Tax Practice Institute®. In practice for more than 30 years as an Enrolled Agent, an Accredited Tax Advisor® and an Accredited Tax Preparer®, Monica is a sought-after guest lecturer on college campuses and at community organizations. Monica has been a long-term and active member of numerous professional organizations, including the National Association of Enrolled Agents, the National Society of Accountants, the National Association of Tax Practitioners, the National Society of Tax Practitioners, the California Society of Enrolled Agents, the California Society of CPAs, and the California Society of Accounting and Tax Professionals, as well as the Los Angeles County Bar Association, the Young Tax Lawyers Committee, and the Tax Law Society. Monica welcomes every opportunity to share her experience and expertise in the classroom even as she maintains her Southern California tax practice which serves national and international clients. Her students have said, she’s a “fantastic speaker” who can take “hard subjects and put them into concepts or analogies that are easy to understand.” For additional information, published articles and extensive, useful tax information.

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