Americans have been able to accumulate wealth. It is estimated more than $10 trillion dollars in wealth will be transferred over the next 15 years. If a person has been fortunate to amass significant wealth, the government imposes a tax when the person transfers their wealth at death. In 2009, if a personĘs gross estate plus adjusted taxable gifts equals or exceeds $3.5 million in value, a Form 706 must be filed. In the teleconference, you will learn the rules applicable to properly preparing and filing Form 706. The program will cover which assets are subject to tax, the available deductions and major elections. Each schedule required to be filed with Form 706 will be discussed. The teleconference will provide you with a working understanding of how the estate tax works and proper reporting.
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