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2019 4.8 Satisfied (125 Votes)
2018 4.3 Satisfied (163 Votes)
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For example, if no executor is appointed for a decedents estate, but the decedents assets have valid beneficiary designations naming the decedents surviving spouse, or if the decedent owned all assets in joint tenancy with the surviving spouse, the surviving spouse will be in actual or constructive possession of the
General. Funeral expenses. Executors commissions. Attorney fees. Interest expense. Miscellaneous expenses.
Yes, there is a penalty for not filing a Form 706, even if no estate tax is due. The penalty is equal to 5% of the gross estate value for each month, or part of a month, during which the return is late, up to a maximum of 25%. For more information, see the IRS website: .
File Form 706 for the estates of decedents who were either U.S. citizens or U.S. residents at the time of death. For estate tax purposes, a resident is someone who had a domicile in the United States at the time of death.
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