Date: August 18th , 2025

Time: 1pmET | 12pm CT | 11am MT | 10am PT

Duration: 120 Minutes

Description:

Gift tax reporting is fraught with complexity, and even small errors can result in audits, penalties, and significant tax consequences. This course provides a deep dive into the most commonly misreported gift transactions and equips practitioners with the tools to avoid costly mistakes.

Participants will explore key challenges such as gift splitting, Crummey powers, generation-skipping transfer (GST) tax allocation, misapplication of the annual exclusion, and the proper use of the deceased spouse’s unused exclusion (DSUE). Special focus will be given to reporting discounted gifts, including valuation issues, IRS scrutiny, and best practices for compliance.

Designed for tax professionals, this course delivers practical insights for ensuring accurate and compliant Form 709 filings—helping you protect clients and minimize audit risk.

Major Topics:

• Frequent errors in Form 709 reporting—and how to avoid them
• Proper handling of gift splitting, Crummey transfers, and annual exclusions
• Navigating GST tax allocation in gift reporting
• Reporting discounted gifts: valuation, risk areas, and IRS focus
• Accurate DSUE allocation and its implications for gift tax compliance

Learning Objectives

• Identify and correct common mistakes in gift tax reporting, including gift splitting and GST allocation
• Apply the annual exclusion rules and DSUE provisions correctly
• Understand valuation issues and IRS concerns related to discounted gifts
• Complete Form 709 with greater accuracy to reduce audit exposure
• Confidently advise clients on complex gift transactions while optimizing tax outcomes

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 2 Hours

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker

Klaralee Charlton is a Partner at 3i Law in Denver, Colorado. She practices fiduciary tax, estate administration, and business transactional law. As part of her practice, she guides clients through the process of administering a loved one’s estate including the collection, valuation, management and transfer of assets including financial accounts, real estate, and business interests with a focus on minimizing estate and income tax liability. Klaralee also works closely with trustees of ongoing trusts to ensure compliance and prepares clients’ fiduciary income tax returns annually.

Klaralee has written and lectured on topics including estate and gift tax, fiduciary income tax reporting and U.S. regulations governing the valuation of small family businesses. She is an active member of the Colorado Bar Association, Tax Section and Adjunct Profession at the University of Denver, Graduate Tax Program.