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Author: |
Andrew Clark, EA |
Course Length: |
Pages: 46 ||| Word Count: 19,431 ||| Review Questions: 9 ||| Final Exam Questions: 15 |
CPE Credits: |
3.0 |
IRS Credits: |
3 |
Price: |
$26.95 |
Passing Score: |
70% |
Course Type: |
Text - IRS Enrolled Agents |
Technical Designation: |
Technical |
Field Of Study: |
Taxes |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This course walks practitioners through when a gift becomes taxable, when a return must be filed, and how the 2026 rules affect gift related financial planning.
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Frequently Asked Questions: |
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Description: |
Gifts are a commonly used method to reduce the amount of estate taxes owed. This course has been updated to reflect all current changes to tax law as practitioners prepare returns in 2026. This course will explore the topic of gift taxes. It will explain when gifts are free of tax liability and identify various scenarios where filing a gift tax return is required. |
Usage Rank: |
30000 |
Release: |
2026 |
Version: |
1.0 |
Prerequisites: |
Basic understanding of federal income taxation concepts. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
Internal: Up Your Game with Tax CPA Courses
Internal: Federal Tax Changes CPE for CPAs
External: IRS Newsroom - Estate and Gift Taxes
External: IRS Form 709 United States Gift and Generation-Skipping Transfer Tax Return
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
24-Jul-2026 |
NASBA Course Declaration: |
Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Keywords: |
Gift Taxes for 2026: updates on gift taxes and client impact - CPE course for CPAs |
Learning Objectives: |
Course Learning ObjectivesAt the end of this course, students will be:
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Course Contents: |
Part 1 - Gift Tax Defined Course Learning Objectives Introduction Unified Transfer Tax System Lifetime Exclusion for an Estate Why Gift Taxes are Required Timing of a Gift Gifts to an Entity Crummey Trusts Gifts to Minors Outright gifts. 2026 Trust Income Tax Rates Guardianship Custodial arrangements. Present Interest of Gifts to a Minor Qualified State Tuition Programs Not all Gifts are Subject to Gift Tax Gifts that do not exceed annual exclusion Gifts to a Spouse Charitable Gifts Transfers to charitable organizations not subject to federal gift tax. Political Contributions Qualified Tuition Payments Medical Costs Annual Exclusion Amount Unlimited Donees Gifts Exceeding $19,000 Present Interest vs. Future Interest Part 1 - Review Questions Part 2 - Trusts Trusts Defined Reasons for Using a Trust Living vs. Testamentary Trusts Building Blocks of a Trust Trusts - Revocable Trusts - Living Reversion Defined Living Trust Advantages Living Trust Disadvantages Pour-Over Will Trusts - Irrevocable Trusts - Testamentary The Taxation of Trusts Grantor Trusts Grantor Retained Income Trusts Using Revocable Trusts Estates Compared to Living Trusts Using Irrevocable Trusts 2026 Trust Income Tax Rates Capital Gains Treatment in Trusts Deduction of Estate Planning Expenses Deduction of Expenses Gift Tax with Respect to Trusts Estate Tax with Respect to Trusts Unlimited Marital Deduction Marital Deduction Trust Qualified Terminable Interest Property (QTIP) Trust “A-B” Trusts “A-B-C” (QTIP) Trust Tax Basis Alternative Valuation Revocable Living Trust Clauses Identification Clause Trustee Clause Property Transfer Clause Revocation and Amendment Clause Income and Principle Clause Recital Clause Trustee Requirements Advantages of Hiring Corporate Trustees Advantages of Hiring Individual Trustees Trust Termination Clause Life Insurance Trust Gift Splitting Consent to Gift Split Applies to All Gifts Gift Splitting Requirements Community Property States Gift Tax Return Gift Tax Return Due Date: Valuation Real Estate Valuation Understatement Computing Gift Tax Generation Skipping Transfers Transfer Types Exemption Amount How to compute generation skipping transfer tax Generation Skipping Terminations Tax (GSTT) Generation Skipping Distribution Tax (GSDT) Direct Skip Gift Tax (DSGT) Direct Skip Estate Tax (DSET) Filing the return and paying the GSTT Gifts and bequests from expatriates One Big Beautiful Bill Act – Changes related to Estate, Gift, and Generation-Skipping Transfers Taxes Sec. 70106 – Extension and Enhancement of Increased Estate and Gift Tax Exemption Amounts Part 2 - Review Questions Glossary |
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