When someone passes away, what the person passes down to his or her beneficiaries may be subject to federal estate taxes. If the decedent “skips” a generation in passing along assets then it may ...
On Tuesday, the IRS posted a draft version of the instructions to Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, a follow-up to the draft Form 706 that was posted in ...
The IRS on Thursday issued Notice 2011-82 to alert executors of the estates of decedents dying after Dec. 31, 2010, of the need to file a Form 706, United States Estate (and Generation-Skipping ...
The new Part 6 of the draft Form 706 states that a decedent with a surviving spouse elects portability of the DSUE amount, if any, by completing and timely filing the Form 706. No further action is ...
When do I need to file Form 706, estate tax return? Robert 'Bob' Powell answers this question as part of Decoding Retirement's special segment, Ask Bob. You need to file an Estate Tax Return (Form 706 ...
When it comes to the estate tax, 2010 was an unusual year. The estate tax was repealed for most of 2010. But on December 17, 2010, President Obama signed a law that reinstated the estate tax ...
On Oct. 4, the Internal Revenue Service posted final Form 706 for individuals dying in 2012. It posted final updated instructions on Oct. 12. Here’s an overview of the new form and instructions and ...
On July 8, 2022, the IRS issued Rev. Proc. 2022-32 that simplified the method for obtaining late relief for failure to timely make an estate tax portability election and extending the time for filing ...
IRS Form 706 is used to report the United States' estate- and generation-skipping transfer taxes. It is filed by the executor of an estate of a deceased U.S. citizen or resident in one of two ...
In planning for the estate of a surviving spouse, the availability of the unused gift and estate tax exemption of his or her deceased spouse can be important, and particularly so with the impending ...
On September 13, 2011, the IRS released Notice 2011-76, which gives executors of estates of 2010 decedents more time to make an informed decision about whether to stay in the default estate tax regime ...
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