After a Taxpayer’s Death

Overview

As tax professionals, we are accustomed to filing tax returns for our clients through all phases of their lives such as when they find their first paid job, get married, have children and save for retirement. Often times we overlook the times where our support and attention to detail matter most: in the afterlife moments. 

This course will discuss the tax returns that may need to be filed on behalf of deceased taxpayers during the year following their death. Depending on the taxpayer's individual circumstances various forms may be used including Form 1040, Form 1041, Form 706, Form 709. These forms will all be discussed in turn, supported by numerous examples that illustrate when each form should be filed and what information should be included in each case.

Find this course for your license


License or Certification 

 

Regulator 

 

Type 

 


Objectives

Upon completion of this course, you will be able to:

  • given the facts and circumstances related to a taxpayer's financial situation following his or her death, determine the tax return forms that must be filed for the taxpayer
  • given the relevant details of ownership, correctly determine which of a taxpayer's assets are required to go through probate following his or her death
  • correctly calculate the gross value of an estate for the purpose of determining whether or not an estate tax return is required
  • identify the main characteristics of grantor, revocable and irrevocable trusts
  • given the details of a gift made from one individual to another, calculate any taxable amount and determine whether a gift tax return is required

Tax Year: 2021

Designed For:

CPAs, EAs, and other tax professionals


WebCE® 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Course Information

Adding additional credit may change exam requirements.

Advanced Preparation: None