Gift Taxes 2020 (video)

  • Credits: 3
  • Format: Self-Study Video
  • Field of Study: Federal Tax Law
  • Author/Speaker: Andrew Clark
Course ID: Advanced Preparation: Experience Level:
EWTFM-T-01749-21-S | 6233-CE-0474 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© Sept 2020 Basic Understanding of Taxation Audio | OnDemand Webinar | Live Webinar

Gifts are a commonly used method to reduce the amount of estate taxes owed. The Tax Cuts and Jobs Act made changes in the effect of gift taxes.

Topics include:
  • This course has been updated to reflect all current changes to the tax law as practitioners prepare returns in 2019.
  • This course will explore the topic of gift taxes.
  • It will explain when gifts are free of tax liability and identify various scenarios where filing a gift tax return is required.

Learning Objectives:

After reading the course material, you will be able to:

  • Describe what financial transactions constitute a gift,
  • Recognize when a gift transaction is completed,
  • Identify the annual gift exclusion amount,
  • Differentiate between present interest and future interest gifts,
  • Recognize the types of gifts that are not subject to gift taxes,
  • Recognize the benefits of gift splitting,
  • Identify the form that is used for Gift Taxes and the due date for submitting it.

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s: