document-understanding
2024.10
true
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Document Understanding User Guide
Automation CloudAutomation Cloud Public SectorAutomation SuiteStandalone
Last updated Nov 22, 2024

709 - ML package

Overview

IRS Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, is employed to report gifts that exceed the annual exclusion amount, lifetime exemption, or qualify for special valuation rules. Form 709 enables taxpayers to accurately report gifts and calculate any applicable gift tax owed.

This ML package is trained to extract 27 regular fields of relevant data points from Form 709.

This model is trained on all versions released by IRS from January 1959 to 2022.

Particularities

The ML package is trained to automatically detect data such as:
  • Donor's Name, Address, Residence, Citizenship
  • Amount for Taxable Gifts Current-Prior and Total
  • Paid Preparer identification
  • Form Version, Year
Note: For the complete list of extracted fields, check the Out-of-the-box Models Details file.

Samples

You can download the a sample filled-in form from here.

  • Overview
  • Particularities
  • Samples

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