Generation Skipping Transfer

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Description

Generation Skipping Transfer
IRS Program #: X9QQU-T-01046-23-O
CTEC #: 6257-CE-0220
CE: 1 IRS & 1 CTEC
Speaker: Donna Byrne

This program will provide an overview of generation skipping transfer tax (GSTT). Topics covered will be what is a generation skip and why is it important, gifts subject to and not subject to GSTT, and how to report them on a gift tax return.

Learning Objectives:

Have a basic understanding of GSTT.
Know when and where to report gifts that may be subject to GSTT.
Understand this is a complicated area and know when to advise clients to seek an attorney’s advice.

Contributors

Donna Byrne

As a law professor, Donna taught a wide range of tax law courses, as well as estates and trusts and property law. She volunteered as a tax preparer and reviewer with IRS certification at the Advanced level plus Schedule C, Cancellation of Debt, Health Savings Account, and Military certifications. She also prepared tax returns for middle to high income clients of a CPA firm.

Now, as the owner of Ash Creek Tax and Legal Services in Independence, Oregon, Donna prepares tax returns, represent taxpayers before the IRS and the Oregon Department of Revenue, and prepare wills and trusts. Her clients are individuals, businesses, and tax-exempt organizations.

Donna is well credentialed: IRS Enrolled Agent, Oregon Licensed Tax Consultant, Oregon Attorney, and Oregon Notary Public. LTC #C-907103. Also, licensed Zumba instructor and (lapsed) Level 2 PSIA Ski instructor.