CCH's 706/709 Preparation and Planning Guide presents a fundamental review of the rules for federal estate and gift taxation, and clear guidance on properly preparing Forms 706 and 709. Written by noted tax experts, commentators and educators, Sidney Kess and Barbara Weltman, the Guide's approach is concise and practical. Kess and Weltman provide precise explanation on all the essentials of estate and gift tax return preparation. Legislative and regulatory changes affecting returns, recent IRS rulings and significant court decisions are all reflected and highlighted in place throughout the text in a logical and understandable manner.

706/709 Preparation and Planning Guide's presentation flows logically, line-by-line through the return itself; hits all the high points; and uses simple, straightforward and easy-to-understand language. It's format and organization is easy to use and easy to read, with large type and forms reproduced in place throughout the chapters. Perfect for staff training or personal refresher, it includes sample filled-in forms and schedules that illustrate how real-world tax scenarios flow through onto the forms themselves.

Special attention is given to steps to take in preparing for an IRS audit. Whereas only a very small percentage of individual income tax returns are targeted by the IRS, more than 1/3 of estate tax returns are audited. This insightful Course guides practitioners in preparing a return that can withstand an audit. It discusses items that trigger audits, what must be included in the return, and what will be needed as the return is examined.

CCH's 706/709 Preparation and Planning Guide is ideal for staff training by accounting firms, financial and estate planners, bank trust departments, tax preparation firms and anyone who needs updated, practical guidance on completing Form 706 or Form 709 tax returns

* This book is divided into CPE Modules. Practitioners may earn CPE credit by successfully completing and submitting the Course Modules' Final Exam answer sheets for grading. An additional fee applies when the Final Exam answer sheets are submitted to CCH for CPE grading and administration. (NOTE: Because continuing education requirements vary from state to state and among different licensing agencies, practitioners should always check with their licensing boards and governing agencies for specific information on their CPE requirements and to verify the applicability of this Course for meeting their requirements.)

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