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 ...

For estate-planning professionals, one of the more complex aspects of administering a client’s estate is the preparation of Internal Revenue Service Form 706, the United States Estate (and ...

The IRS has just changed the timeframe for filing a late portability election for federal estate tax purposes. This is extremely important to those who did not timely file a federal estate tax return ...

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On July 8, 2022, the IRS issued Revenue Procedure 2022-32, which provides a simplified method for taxpayers to obtain an extension of time to make a portability election of a deceased spouse’s unused ...

Q. My mother passed away in 2019 with $4 million of assets all being distributed to Class A beneficiaries. An attorney handling the estate advised that a Form 706, federal estate tax return, did not ...

Equity Business Valuation Services has launched business valuation services designed for high-net-worth clients ...