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Estate Tax Return

Death and taxes may be inevitable, but that doesn't mean you have to like it. Estate taxes can be especially confusing and complicated. But don't worry, we're here to help. We can accurately file your estate taxes on form 706.

There are certain requirements for filing an estate tax return. The most important is that the value of the estate must exceed the exclusion amount. As of 2019, the exclusion amount is $11.4 million. This means that if the value of your estate is less than $11.4 million, you don't have to pay any estate taxes.

Income from the estate is also taxable on form 706. This includes things like interest income, dividends, and capital gains. The estate is also responsible for paying any taxes that the deceased owed at the time of death, such as income taxes or debts.

Filing an estate tax return can be a complicated and daunting task. But with our help, you can rest assured that it will be done correctly. Give us a call today and we'll get started on taking care of everything for you.

Frequently Asked Questions about Estate Tax Filing

  • An estate is the property, both real and personal, that a person owns at death. The estate includes everything from houses and land to stocks and bonds. An estate also includes any debts that the person owed at the time of death

  • If the value of the estate exceeds the exclusion amount, then the executor of the estate must file an estate tax return. As of 2026, the exclusion amount is $15 million per individual

  • Common deductions for estate taxes include funeral expenses, debts of the deceased, and charitable donations

  • There are a few ways to minimize your estate taxes. One way is to give gifts during your lifetime. You can also set up a trust. Trusts can be used for a variety of purposes, including minimizing estate taxes

  • If you don't file your estate taxes, the IRS can impose a penalty of 5% of the value of the estate. This penalty accumulates every month that the return is not filed.

Estate taxes can be confusing and complicated. But with our help, you can rest assured that everything will be taken care of correctly.

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