Preparing Form 706 requires a detailed understanding of estate taxation, valuation rules, and compliance requirements. This course provides a step-by-step breakdown of Form 706, helping tax professionals accurately report estate taxes while ensuring compliance with IRS regulations. Participants will explore key components, including gross estate calculations, deductions, tax computation, and portability elections. With real-world examples and practical guidance, attendees will gain confidence in preparing Form 706, even in complex scenarios. This course will also cover any recent legislative changes introduced by the new administration and their impact on estate tax planning and compliance.
*Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com
DESIGNED FOR
Anyone who performs audits
BENEFITS
- Describe the importance of maintaining professional skepticism
- Explain critical elements of high-quality audit documentation
- List the characteristics of a proper risk assessment process linked to the detailed audit plan
- Describe how to satisfy the minimum requirements for evaluating the design and implementation of internal controls relevant to the audit
HIGHLIGHTS
- Professional skepticism – Creating a mindset for finding fraud and error
- Audit documentation basics – Creating workpapers that pass review
- The audit risk model – Understanding the foundational principles
- Internal control fundamentals - Satisfying the requirements for evaluating the design and implementation of internal control over financial reporting
PREREQUISITES
None
ADVANCE PREPARATION
None