Form 706 Unlocked: Keep Your Estate Plans Portability-Proofed
This course provides a detailed overview of Form 706 –United States Estate (and Generation-Skipping Transfer) Tax Return, a critical filing for estate tax compliance and planning. The program highlights the importance of making the portability election, which allows a surviving spouse to utilize the deceased spouse’s unused estate tax exclusion amount (DSUE).
Participants will examine the mechanics of Form 706,including how to determine the taxable estate, identify key deductions, and complete the sections necessary to preserve portability. The discussion will also address the risks and financial consequences of failing to elect portability.
Through practical examples and case studies, including guidance from Revenue Procedure 2022-32, attendees will gain actionable insights into late portability elections and IRS relief provisions. Current estate tax thresholds and filing requirements will also be reviewed to ensure accurate and compliant reporting.
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*Self-Study recording not available for NASBA CPE credit.
NASBA Field of Study: Taxes
IRS Program #: 7Q3WU-T-00924-26
CTEC Course #: 6248-CE-00271
Michael Miranda
,
CPA, QKA, NQPC, AEP
Michael R. Miranda is the owner of MIRANDA CPA & Consulting LLC, based in Sioux Falls, South Dakota. With more than 49 years of experience, Michael specializes in tax consulting, estate planning, and employee benefits, serving clients with complex needs and representing them before governmental agencies. His practice focuses on niche areas of tax law and strategic planning, and he maintains an active national speaking schedule on topics including tax law, estate planning, and employee benefit strategies.
Michael serves on the Board of Directors for National Advisor Trust Companies of Kansas and South Dakota. He holds multiple professional designations: CPA, QKA and NQPA (Qualified Plan Administration), and AEP (Accredited Estate Planner). His professional affiliations include the AICPA, South Dakota CPA Society, ASPPA, NAEA, NATP, and NAEPC.
Prior to founding his firm in 2017, Michael was a senior manager and shareholder at a regional CPA firm in Northwestern Iowa for 27 years. Earlier in his career, he worked as a Tax Specialist with a Big Eight accounting firm in South Bend and Minneapolis, advising individuals and small to mid-sized businesses on tax and estate planning. Michael resides in Sioux Falls with his wife, Jeanette.
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