This course is specifically for Enrolled Agents that need to report to the IRS.

Introduction

Estate taxes are one of the taxes covered by the IRS’s unified transfer tax system. Estate taxes are designed to collect taxes from transferring property at death. Proper planning can save a substantial amount of money in taxes. This course will discuss estate planning and estate taxes. This course will describe the tools that are available for estate planning and will define the benefits of using each tool. This course will describe how to identify what is included in the gross estate and demonstrate how to calculate the gross estate amounts.

Learning Objectives

At the end of this course, students will be

• Describe estate taxes and the purpose of estate taxes according to the Internal Revenue Code (IRC),
• Identify the various types of trusts that can be used for estate planning,
• Recognize what is included in the gross estate of a decedent,
• Calculate the gross estate of a decedent,
• Recognize the various deductions and credits available when calculating the gross estate of a decedent, and
• Describe the purpose of Generation Skipping Transfers and the Generation Skipping Transfer Tax according to the IRC.

Revision Date:  4/29/2024

Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
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