[Tripin93]

This is not a CPA exam question, I’m just trying to grasp an understanding of the IRS’ rationale/methodology in designing tax forms. Why is the estate tax and generation skipping tax on the same form, 706? I am trying to logically make a connection- but it just seems like the IRS threw these taxes on the same form, in order to do less work. If anything, it seems like the generation skipping tax should be on Form 709 (gift tax) instead of Form 706 (estate tax.)

I’m still studying for Regulation and I have not mastered this chapter yet. Is the generation skipping tax triggered upon death? I thought it was triggered ANY time a gift skips a generation…

Motivated by JC. I do it to make God proud.

FAR: 91 July 2015
AUD: 83 October 2015
REG: 81 January 2016
BEC: 83 February 2016