Practice
Estate and gift tax for executors and families
Most estates owe no federal estate tax, but many still need a return: to pass the unused exemption to a surviving spouse, or to answer the IRS after a large gift. We prepare the returns and handle what follows.
We work alongside the family's estate lawyer and accountant, not in place of them. Our part is the federal return, the valuations it relies on, and any examination that comes after.
Returns we prepare
The returns and filings an executor or a family usually asks us about.
Estate tax return (Form 706)
Due nine months after the death, with a six-month extension available. We gather valuations and prepare and file it.
Portability election
A return filed only to carry a spouse's unused exemption to the survivor, even when no tax is due.
Gift tax returns (Form 709)
For gifts over the yearly exclusion, including gifts that need a return but owe no tax.
Questions after filing
Letters and examinations on a filed estate or gift return, and the closing letter that ends them.
Questions from executors
The estate is under the exemption. Do we need a return?
Not for tax, but a surviving spouse often benefits from filing one to keep the unused exemption. It's worth deciding early, as the deadline is easy to miss.
Who signs the return?
The executor named in the will, or the court-appointed representative. If no one has been appointed, whoever holds the property may have to.
What if the IRS questions a valuation?
We answer with the appraisal and its support, and go to Appeals if the examiner's figure is wrong.
Can you also handle probate?
No. We do the federal tax side and work with the probate lawyer the family chooses.
Executor of an estate with a return to file?
Tell us the date of death and roughly what the estate holds. We'll say whether a return is needed.