Explains IRS requirements for preparing and filing Form 706, including supplemental documentation. Describes common issues to consider when completing Form 706 schedules. Identifies tax elections that may reduce taxes and items in Form 706 that may be subject to closer examination on audit.
What You’ll Learn:
- Identify who must file the Estate Tax Return (Form 706) and when to file
- Explain when the estate tax is due
- Identify supplemental documentation to submit with Form 706
- Complete Form 706 with the amount of detail required by the IRS
- Describe tax elections which may reduce federal estate tax
- Identify items in Form 706 that may be subject to closer examination on audit