Preparing Form 706: The Federal Estate Tax Return

Course Details


Wednesday, October 16, 2019

3:30am – 11:00am
(Registration: 3:00am)

Field of Study


Course Number


CPE Credit

8.0 hours CPE credit

Level of Knowledge



CalCPA Education Foundation


Basic understanding of trusts and estate planning terminology.


This revised course reviews the basics of preparing a federal estate tax return (Form 706) and making the portability election for the estate of the deceased spouse.

Learn about the portability of the deceased spousal unused exclusion amount, which is a fast-growing compliance opportunity for clients. Explore how the portability election can provide significant estate tax insurance for the surviving spouse and income tax insurance for beneficiaries. Also, identify how to complete each of the schedules and make available elections. Further, discuss the changes arising from the most recent changes in federal estate tax law the most recent edition of Form 706. This course will also review the new income tax basis consistency reporting rules with the preparation of Form 706.

Information is presented with additional content added for basic understanding. Federal estate tax returns remain the most difficult and trap-strewn of all returns required for the estate. This course can help beginning practitioners identify problems and traps before they arise and recommend what to do to protect a practice.

Note: A companion course, Advanced Issues: The Art of the Estate Tax Return, presents in-depth discussion of issues, tax-saving strategies and planning alternatives with Form 706 using the instructor's book, Art of the Estate Tax Return (2nd ed.), Bloomberg BNA Books.

Materials are provided as an ebook.


  • Filing requirements, new forms and IRS return review procedures
  • Claims avoidance against you or your firm... since preparation of the Form 706 has traditionally been the greatest source of liability claims against CPAs
  • Estate tax return terminology
  • Action steps upon receipt of the engagement to prepare Form 706
  • Introduction to each schedule and page on the return
  • When to use or eschew simplified reporting while making DSUEA elections
  • Recent developments with basis consistency rules and integration with the Form 706
  • QTIP elections with otherwise bypass/credit-shelter trusts
  • Practice forms to attach to the estate tax return
  • Marital deduction elections
  • Practice tips for penalty avoidance
  • Reporting elections: Sec. 6166, QTIP, reverse QTIP, QDOT, alternate value and Sec. 2032A


  • Determine how to prepare each schedule to the estate tax return (Form 706).
  • Identify the most common errors by practitioners in the preparation of Form 706 and receive the "hot button" list provided by an IRS Group Manager.
  • Identify how to present returns to minimize audit risks.
  • Working with the doubled basic exclusion amount.
  • Recognize protective and perfected refund claims with estate tax.
  • Determine portability elections to benefit from the deceased spousal unused exclusion amount (DSUEA).
  • Identify and discuss rules to deduct expenses and liabilities, including protective refund claims (and Schedule PC) and extra demands, as well as calendaring needed for your office.

Designed For

Attorneys, CPAs and tax practitioners.

Registration for this course has passed.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

Non-Member Fee

Applicable if you are not a HSCPA member.

Your Price $375.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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