Live Webinar

65-minute live streaming program
  • October 26
  • 1:00 - 2:05 pm EST

Also available as:

OnDemand Course

Form 706: Estate Tax Return Fundamentals

October 26

Stay up-to-date on when and how to file Form 706, and learn how to reduce future transfer taxes for your clients.

While the federal estate tax exclusion is currently high (over $12M), it is scheduled to decrease on January 1, 2026. Many estates are still required to file an IRS Form 706 (either because it is a taxable estate or it is a first death and you want to preserve portability for the surviving spouse), and many more will be required to file beginning in 2026. There are many pitfalls that even the most skilled and experienced practitioner falls into and common mistakes that befall us all. This presentation will help practitioners who prepare and file IRS Form 706s understand and recognize such common pitfalls and mistakes in order to submit an accurate IRS 706. We will review a simplified 706 and a full 706 to discuss the differences and which form is better suited for your client.

Learning Objectives

  • You will be able to discuss the importance of a ‘good’ 706.
  • You will be able to explain the need for proper valuations and other supporting documents.
  • You will be able to recognize the difference between a simplified form and a regular 706.
  • You will be able to review the reasons to file with the client.

Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Reasons to File IRS United States Estate (and Generation-Skipping Transfer) Tax Return Form 706
  • Required to File
  • File to Run Statute of Limitations
  • File to Elect Portability
General Information
  • Pitfalls to Watch Out For
  • Simplified vs. Regular Form
  • Attachments/Supporting Documents
  • Use of Explanation and Descriptive Paragraphs
Deadines
  • 9 Months (Extension With an Estimated Payment) (Form 4768)
  • 15 Months Filing (If Extension Was Timely Filed)
  • Rev. Proc. 2022-32, IRB 2022-30 IRB – Late Filing of 706 for Portability Purposes Only (Five Years)
Portability
  • 706 Just to Elect Portability
  • Reasons to Elect Portability
Acceptance of 706 vs. Audit/Review
  • Estate Tax Closing Letter Available Only Upon Request – No Longer Automatic
  • Obtaining Transcripts – Online Through the Transcript Delivery Service (Need an Account With the IRS); At Least Six Months From Submission
  • How to Reduce Audit Risk
  • How to Respond to Audit
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AK CLE 1.0
     
  • Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.1
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
     
  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • GA CLE 1.0
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • IN CLE 1.1
     
  • This program has been approved by the Indiana Commission on Continuing Legal Education. Participating attorneys are eligible to receive up to 1.1 hours of Distance Education credit.
     
  • MN CLE 1.0 (Pending)
     
  • This program has been submitted to the Minnesota Board of Continuing Legal Education. Approval pending.
     
  • MO CLE 1.3
     
  • This program has been approved by the Missouri Bar for 1.3 hours of CLE.
     
  • MS CLE 1.1 (Pending)
     
  • This program has been submitted to the Mississippi Commission on Continuing Legal Education. Approval pending.
     
  • NC CLE 1.0 (Pending)
     
  • ND CLE 1.0
     
  • This program has been reviewed by the North Dakota Commission for Continuing Legal Education and approved for 1.0 hours of CLE credit.
     
  • NH MCLE 1.0
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
     
  • NJ CLE 1.3
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
     
  • NM CLE 1.0
     
  • This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
     
  • NV CLE 1.0
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • OH CLE 1.25 (Pending)
     
  • This course has been submitted to the Supreme Court of Ohio Commission on Continuing Legal Education for 1.25 CLE hours. Approval pending.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • TN CLE 1.08
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.08 hours of credit.
     
  • VA CLE 1.0 (Pending)
     
  • This program has been submitted to the Virginia Mandatory Continuing Legal Education Board for 1.0 CLE credit hours.
     
  • VT CLE 1.0
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of CLE credit.
     
  • WA CLE 1.0
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.0
     
  • This program has been approved by the Board of Bar Examiners for 1.0 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.3
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
     
  • Enrolled Agents 1.0
     
  • This program qualifies for 1.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CPE 1.2 including Taxes 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 1.2 hours. Prerequisite: basic knowledge of estate planning. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

OnDemand Course

This course was last revised on May 13, 2019.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for estate planners, accountants, attorneys, presidents, vice presidents, CPAs, controllers, business owners and managers, tax managers, tax preparers, financial planners, and enrolled agents.

Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mark R. Shepherd

Mark R. Shepherd

Crist Biorn Shepherd Roskoph

  • Shareholder with the law firm of Crist, Biorn, Shepherd & Roskoph
  • Clients include wealthy individuals, C and S corporations, limited liability companies, partnerships, and family foundations
  • Provides tax opinions and tax dispute resolution
  • Achieved the highest rating with Martindale-Hubbell Law Directory
  • Lectures and teaches frequently in the areas of taxation and estate planning
  • Wrote '2036(c)Alert' published in the Fall 1989 issue of the Golden Gate University Tax Exchange and co-wrote Estate Planning for Farmers and Ranchers, University of California Publication 21515, 1993
  • J.D. degree, with honors, and LL.M. degree, Golden Gate University School of Law; B.A. degree, magna cum laude, San Francisco State University
  • Can be contacted at 650-321-5005 or [email protected]
No photo available

Kristin R. Wu

Crist Biorn Shepherd Roskoph

  • Associate with the law firm of Crist, Biorn, Shepherd & Roskoph
  • Advises clients of both modest estates to high-net-worth clients on areas related to their estate and business with an emphasis on establishing trusts, limited liability companies, partnerships, and family limited partnerships
  • Practice includes settling decedents’ estate ranging from administering trusts and filing estates with the court for probate, preparing and filing estate and gift tax returns, and providing resolutions to disputes between beneficiaries and trustees
  • Member of Santa Clara County Estate Planning Council, Silicon Valley Bar Association, and Palo Alto Area Bar Association
  • J.D. degree, Albany Law School of Union University; B.A. degree, Hofstra University
  • Can be contacted at (650) 321-5005 or [email protected]
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 409756
Published 2019, 2022
Purchase Options

Register today before this event fills.