Form 706 is used by executors to report the value of a decedent’s estate and calculate the estate tax owed to the IRS. It is a critical component in the estate settlement process, especially for estates that exceed the federal estate tax exemption threshold. I specialize in preparing and filing IRS Form 706, the United States Estate (and Generation-Skipping Transfer) Tax Return. My expertise ensures accurate reporting of the estate’s value and precise calculation of any estate tax due.
I meticulously assess the fair market value of all estate assets, including real estate, investments, business interests, and personal property.
I identify all applicable deductions and credits to minimize the estate tax liability. This includes deductions for charitable contributions, debts, and administrative expenses.
Ensuring compliance with all IRS requirements, I prepare and file Form 706 accurately and on time, avoiding costly penalties and interest.
I handle the complexities of the GSTT, ensuring proper reporting and tax calculation for any transfers to beneficiaries two or more generations below the decedent.
In the event of an IRS audit, I provide full support and representation to defend the return and resolve any issues.
