EST2312. Taking a Practical Approach to the Adequate Disclosure Rules

This session will summarize what constitutes adequate disclosure for federal gift tax purposes, the importance of the adequate disclosure rules for starting the statute of limitations on transfers, and practical considerations for reporting common gift and non-gift transfers.

Learning Objectives:

• Describe key attributes of the adequate disclosure rules under Treas. Reg. § 301.6501(c)-1 and their importance to the taxpayer and Form 709 preparer.
• Identify relevant practices to consider in your own gift tax preparation protocol.