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Estate & Gift Tax Review & Update (2024-25)
- Review of the estate tax.
- Review of the generation skipping transfer tax.
- Review portability issue of unused unified tax credit
- Discuss the relevant forms associated with the estate and gift taxes.
- Illustrate the filing of Forms 706 and 709.
- Discuss the difference between Form 1040 and 1041 by an estate.
- Introduce tax planning considerations.
Overview of the webinar
This session highlights the federal tax issues associated with estate and gift tax issues. Under current rules, few taxpayers are subject to the estate and gift taxes given the doubling of the Unified Tax Credit (UTC) by the Tax Cuts and Jobs Act of 2017. But the UTC is due to return to the pre-2017 figures adjusted for inflation in 2026 as TCJA sunsets at the end of 2025.
But the prospects of TCJA sunsetting is but one issue to be aware of. There is sentiment by the president and some in Congress to reduce the UTC even further. Hence, tax planning before 2026 is something that tax professionals need to be discussing with their clients.
Who should attend?
- Tax preparers
- CPAs
- Accountants
- Financial Planners
- Consultants and Personal Advisors
Why should you attend?
Most taxpayers are not currently subject to estate taxes. However, this situation is likely to change in two years as the Jobs Cuts and Tax Acts sunset. But there is still time to take advantage of some of the estate tax provisions before the sunset by gifting some assets in the current and forthcoming year. But to do so, tax professionals need to discuss these benefits with our clients.
This webinar presents the issues associated with the estate and gift tax provisions and the thoughts of some Congressional members about the future of the estate tax. In addition, we review the tax forms associated with estate and gift taxation.
Faculty - Mr.Dr. Anthony Curatola, PhD
Dr. Anthony Curatola’s area of research interest is the taxation of individuals and employee benefits. He has authored over 200 articles in his field and has completed sponsored research. His findings on the source tax have appeared in media such as Forbes, The Washington Post, Wall Street Journal, and The New York Times. He is the editor of the tax column for Strategic Finance, past editor of the Journal of Legal Tax Research, author of Interactive education courses for CeriFi (previously Thomson Reuters). He holds a variety of leadership positions at the Institute of Management Accountants and the IMA Research Foundation. Dr. Curatola earned his B.S. in Accounting ’75 and MBA in Finance ‘77 from Drexel University, M.A. in Accounting ’79 from The Wharton School of the University of Pennsylvania, and Ph.D. in Accounting ‘81 from Texas A&M University.