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Foundations of Preparing the Federal Gift Tax Return (Form 709) & Preparing the Federal Estate Tax Return (Form 706) FLEXCAST

Available Until

Your Desk

4.0 Credits

Member Price $196.00

Non-Member Price $225.00


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. This course will provide an overview and update of the basic concepts and issues of gift taxation, give you a helpful review of recent developments affecting gifts, and describe what must be done to accurately complete Form 709 and prepare for possible law changes. This course also addresses the preparation of IRS Form 706, the U.S. Federal Estate Tax Return. This form is a complicated return to prepare, running more than 25 pages with more than 15 schedules.


Definition of Gift. Exclusions from the Gift Tax. Available Gift Tax Deductions. Filling Out Asset Schedules A through I. Completing Deduction Schedules J through U. Completing the Return.



Designed For

CPAs and other tax professionals.


Identify how to apply a practical, updated understanding of the gift tax. Differentiate whether lifetime transfers are subject to gift tax. Identify how to figure gift tax liability. Describe the annual and lifetime gift tax exclusion amounts for 2022. Recognize what would be exempt and deductible from the gift tax. Understand the gift tax marital and charitable deductions. . Recognize the basic concepts and issues of estate taxation. Describe the practical implications of key estate tax changes and the impact on filing estate tax returns for 2022. Describe the parts and schedules that make up the Form 706. Identify how to determine estate tax liability. Recognize the only action required to elect portability. Differentiate the different schedules and how they apply to client scenarios. Review the latest IRS proposed regulations affecting Form 706.




This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.


Leader Bios

Steven Siegel, Western CPE

Steven G. Siegel, JD, LLM, is president of The Siegel Group, which provides consulting services to attorneys, accountants, business owners, family offices, and financial planners. Based in Morristown, New Jersey, the Group provides services throughout the United States.

Steven is the author of many books, including: The Grantor Trust Answer Book (2018 CCH); The Adviser’s Guide to Financial and Estate Planning(AICPA 2019); Federal Fiduciary Income Taxation (Foxmoor 2019); and Federal Estate and Gift Tax (Foxmoor 2016). He is also a co-author with Richard Oshins, Esq. of The Anatomy of the Perfect Modern Trust, Estate Planning Magazine January and February 2016.

In conjunction with numerous tax-planning lectures he has delivered for the National Law Foundation, Steven has prepared extensive lecture materials on the following subjects: planning for an aging population, business entities, preparing the audit-proof federal estate tax return, business acquisitions, representing buyers and sellers in sale of a business, dynasty trusts, planning with intentionally defective grantor trusts, estate planning, S corporations, divorce, and many others.

Steven has delivered hundreds of lectures to thousands of attendees in live venues and via webinars throughout the United States on tax, business, and estate planning topics on behalf of numerous organizations, including Western CPE, the Heckerling Institute on Estate Planning, Notre Dame Tax and Estate Planning Institute, CCH, National Law Foundation, AICPA, Yale School of Management, University of Chicago Business School, the National Society of Accountants, Cohn-Reznick, Foxmoor Education, many state CPA societies and estate planning councils, and on behalf of private companies.

He’s presently serving as an adjunct professor of law in the graduate tax program (LLM) of the University of Alabama School of Law, and he has served as an adjunct professor of law at Seton Hall University and Rutgers University law schools.

Steven holds a bachelor’s degree from Georgetown University (magna cum laude, Phi Beta Kappa); a juris doctor from Harvard Law School; and an LLM in taxation from New York University Law School.

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Non-Member Price $225.00

Member Price $196.00