Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, is an Internal Revenue Service (IRS) form used by an executor of a decedent’s estate to calculate the estate tax owed according to Chapter 11 of the Internal Revenue Code. The tax is levied on the entire taxable estate, not just on the share a specific beneficiary receives. Executors also use Form 706 to calculate the generation-skipping transfer tax (GSTT) imposed by Chapter 13.
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