Understanding Federal Gift Tax and GSTT
Author: Spidell Publishing, LLC
Electronic version only
Master the rules surrounding taxation of gifts that transfer assets from one generation to another. Determine the differences between a complete and incomplete gift and the resulting gift tax ramifications. Learn common pitfalls, strategies to avoid them, and related tax preparer penalties. Review past and recent legislative changes related to the estate, gift, and generation-skipping transfer tax systems, including the permanent expansion of the applicable exclusion amount with the enactment of the 2025 Tax Act (formerly referred to as the One Big Beautiful Bill Act or OBBBA). Identify planning opportunities available for gifts to minors and an election available among spouses to minimize or even eliminate gift tax as well as use of the applicable exclusion amount. Review the adequate disclosure rules to commence running of the statute of limitations.
With this four-hour course, you will:
- Get a 54-page PDF document
- Describe the federal gift tax
- Explain inter vivos transfers
- Discuss gift tax subjects and computation of the gift tax
- Discuss the generation-skipping transfer tax and the calculations
- Complete Form 709
| Designation | CPE Hours |
|---|---|
| CPA | 4 Taxes |
| EA | 4 Federal Tax |
| CRTP (CTEC) | 4 Federal Tax |
| Attorney | 3.25 General MCLE/Tax Specialization |
Course level: Intermediate
A detailed knowledge in federal gift tax and/or experience at a mid-level position within an organization with operational or supervisory responsibilities, or both.
Want to order by phone? Call us at: (800) 277-2257
This self-study is designed to meet the requirements for the specified number of hours of continuing education. This self-study has been designed to meet the requirements of the IRS Return Preparer Office; including sections 10.6 and 10.9 of Department of Treasury’s Circular No. 230 (Provider No. CRA7E); the California State Board of Accountancy; the California Bar Association; and the California Tax Education Council. This does not constitute an endorsement by these groups. The state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. For more information regarding administrative policies such as complaints or refunds, contact Spidell Publishing at (800) 277-2257. Spidell Publishing, LLC has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA 95812-2890, or by phone at 877-850-2832, or on the internet at www.CTEC.org.
Spidell Publishing, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. This self-study is designed to meet the requirements for 4 hours of continuing education for the California Board of Accountancy. Level: Intermediate. Field of Study: Taxes. Delivery Method: Self-Study. For more information regarding administrative policies, such as complaints or refunds, contact Spidell Publishing at (800) 277-2257. A detailed knowledge in federal gift tax and/or experience at a mid-level position within an organization with operational or supervisory responsibilities, or both.
