Instructions For Form 706 - 2016 Page 5

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Return preparer. Estate tax return
Additional Information. The following
IF . . .
THEN . . .
preparers who prepare any return or
publications may assist you in learning
you enter zero on any
you need not file the
claim for refund which reflects an
about and preparing Form 706:
item of the
schedule (except for
understatement of tax liability due to an
Publication 559, Survivors,
Recapitulation,
Schedule F) referred to
unreasonable position are subject to a
Executors, and Administrators.
on that item.
penalty equal to the greater of $1,000 or
Publication 910, IRS Guide to Free
50% of the income earned (or to be
Tax Services.
you are estimating
you must report the
earned) for the preparation of each such
the value of one or
asset on the
Note. For information about release of
return. Estate tax return preparers who
more assets pursuant
appropriate schedule,
nonresident U.S. citizen decedents'
prepare a return or claim for refund
to the special rule of
but you are not required
assets using transfer certificates under
Regulations section
to enter a value for the
which reflects an understatement of tax
20.2010-2(a)(7)(ii),
asset. Include the
Regulations section 20.6325-1, write to:
liability due to willful or reckless
estimated value of the
conduct, are subject to a penalty of
asset in the totals
Internal Revenue Service
$5,000 or 50% of the income earned (or
entered on lines 10 and
Cincinnati, OH 45999
income to be earned), whichever is
23 of Part 5—
Stop 824G
greater, for the preparation of each such
Recapitulation.
return. See sections 6694(a) and
6694(b), the related regulations, and
you claim an
complete and attach
Specific Instructions
exclusion on item 12,
Schedule U.
Ann. 2009-15, 2009-11 I.R.B. 687
(available at
You must file the first four pages of
you claim any
complete and attach
irb09-11.pdf) for more information.
Form 706 and all required schedules.
deductions on items
the appropriate
File Schedules A through I, as
14 through 22 of the
schedules to support
Obtaining Forms and
Recapitulation,
the claimed deductions.
appropriate, to support the entries in
Publications To File or Use
items 1 through 9 of Part
you claim credits for
complete and attach
5—Recapitulation.
Internet. You can access the IRS
foreign death taxes or
Schedule P or Q.
tax on prior transfers,
Make sure to complete the
website 24 hours a day, 7 days a week
required pages and schedules
at
IRS.gov
to:
!
there is not enough
attach a Continuation
in their entirety. Returns filed
Download forms, instructions, and
CAUTION
space on a schedule
Schedule (or additional
without entries in each field will not be
publications;
to list all the items,
sheets of the same
processed.
Order IRS products online;
size) to the back of the
schedule (see the
Research your tax questions online;
Continuation Schedule
Search publications online by topic or
at the end of Form 706);
keyword; and
Sign up to receive local and national
photocopy the blank
tax news by email.
schedule before
completing it, if you will
Other forms that may be required.
need more than one
Form SS-5, Application for a Social
copy.
Security Card.
Form 706-CE, Certificate of Payment
of Foreign Death Tax.
Also consider the following:
Form 706-NA, United States Estate
Form 706 has 31 numbered pages.
(and Generation-Skipping Transfer) Tax
Number the items you list on each
Return, Estate of nonresident not a
schedule, beginning with the number “1”
citizen of the United States.
each time, or using the numbering
Form 709, United States Gift (and
convention as indicated on the schedule
Generation-Skipping Transfer) Tax
(for example, Schedule M).
Return.
Total the items listed on the schedule
Form 712, Life Insurance Statement.
and its attachments, Continuation
Form 2848, Power of Attorney and
Schedules, etc.
Declaration of Representative.
Enter the total of all attachments,
Form 4768, Application for Extension
Continuation Schedules, etc., at the
of Time To File a Return and/or Pay
bottom of the printed schedule, but do
U.S. Estate (and Generation-Skipping
not carry the totals forward from one
Transfer) Taxes.
schedule to the next.
Form 4808, Computation of Credit for
Enter the total, or totals, for each
Gift Tax.
schedule on page 3, Part
Form 8821, Tax Information
5—Recapitulation.
Authorization.
Do not complete the “Alternate
Form 8822, Change of Address.
valuation date” or “Alternate value”
Form 8971, Information Regarding
columns of any schedule unless you
Beneficiaries Acquiring Property From a
elected alternate valuation on line 1 of
Decedent.
Part 3—Elections by the Executor.
General, Specific, and Part Instructions
-5-

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