Course Description

Often ignored by the unwitting taxpayer and overlooked by the practitioner, gift tax returns can be left unfiled. Find out when these returns are due and how to prepare them. An in-depth review of reporting requirements and preparation tactics will be provided. Strategies that can be used to mitigate and, in some instances, even eliminate a tax that currently can take as much as a 40% bite from gratuitous transfers will be examined, along with looming legislative changes that threaten to upend planning for wealth transfers.

Learning Objectives

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 applies 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.

This Course Counts for 2 Hours of Federal Tax Law for IRS Continuing Education. 

Monica Haven is an enrolled agent with J.D. and LL.M. degrees in law and taxation.  She is a nationally recognized speaker and a sought-after guest lecturer on college campuses and at community organizations.  She loves to teach and welcomes every opportunity to share her experience and expertise in the classroom, even as she maintains her Southern California tax practice which serves clients throughout the world.