CLE on Gift Tax Return Preparation

The ABA Section of Real Property, Trust & Estate Law is sponsoring a teleconference and live audio webcast CLE entitled The Devil in the Details: Gift Tax Return Preparation, on Feb. 18, 2010. 

A summary of the program is below:

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.