The American Bar Association Section of Real Property, Trust & Estate Law will be hosting a teleconference and live audio webcast on February 18, 2010, titled "The Devil In The Details: Gift Tax Return Preparation," at 1:00 PM EST. The following is a summary of the teleconference and life audio webcast:
For more information and to register for the webinar, visit http://www.abanet.org/rpte/.
Posted by Neil I. Rumbak, Associate Editor, Wealth Strategies Journal.
"Failure to prepare and file a gift tax return properly can undermine even the best prospective planning, and mistakes can be difficult to remedy. This program will provide a practical, nuts-and-bolts review of common pitfalls in the preparation of federal gift tax returns as we review the Federal Form 709 and various sample attachments. In addition to general gift tax issues, we will focus on GST tax compliance issues, and topics will include:
- Who is required to file;
- What gifts should be included in the return and how to report on Schedule A;
- Adequate disclosure requirements;
- Automatic and affirmative allocations of GST exemption;
- Elections into and out of treatment as a GST trust;
- Transfers to trusts (including the effect of estate tax inclusion periods and Crummey powers);
- The impact if GST tax relief provisions sunset after 2010."
For more information and to register for the webinar, visit http://www.abanet.org/rpte/.
Posted by Neil I. Rumbak, Associate Editor, Wealth Strategies Journal.
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