IRS Form 706

IRS Form 706 is the Estate Tax Return. This form is used to calculate and report Federal Estate Tax owed by the Estate of a deceased person.

The federal estate tax is a tax on the transfer of a deceased person's assets to their heirs or beneficiaries and is only required if the value of the deceased's estate exceeds $12,000,000.

Form 706 must be filed with the IRS within nine months of the deceased person's date of death.

The process of managing a deceased person's taxes can be complicated, so it's best to speak with Certified Public Accountant to help navigate the process.