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IRS Tax Map 2008
Current IRS Tax Map

taxmap/pubs/p950-002.htm#en_us_publink100099463

Estate Tax(p9)


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previous topic occurrence Estate and Gift Taxes next topic occurrence

Estate tax may apply to your taxable estate at your death. Your taxable estate is your gross estate less allowable deductions.
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Gross Estate(p9)


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Gross Estate

Your gross estate includes the value of all property in which you had an interest at the time of death. Your gross estate also includes the following:
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Taxable Estate(p9)


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Taxable Estate

The allowable deductions used in determining your taxable estate include:
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More information.(p10)


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For more information on what is included in your gross estate and the allowable deductions, see Form 706 and Form 706-NA and their instructions.
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Applying the Unified Credit to Estate Tax(p10)


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Applying the Unified Credit to Estate Tax

Basically, any unified credit not used to eliminate gift tax can be used to eliminate or reduce estate tax. However, to determine the unified credit used against the estate tax, you must complete Form 706.
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Filing an Estate Tax Return(p10)


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Estate Tax Return

An estate tax return, Form 706, must be filed if the gross estate, plus any adjusted taxable gifts and specific gift tax exemption, is more than the filing requirement for the year of death.
Adjusted taxable gifts is the total of the taxable gifts you made after 1976 that are not included in your gross estate. The specific gift tax exemption applies only to gifts made after September 8, 1976, and before 1977.
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Filing requirement.(p10)


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The following table lists the filing requirement for the estate of a decedent dying after 2001.
Year of Death: Filing
Requirement:
2002 and 20031,000,000
2004 and 20051,500,000
2006, 2007, and 20082,000,000
20093,500,000
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More information.(p10)


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If you think you will have an estate on which tax must be paid, or if your estate will have to file an estate tax return even if no tax will be due, see Publication 559, Form 706, Form 706-NA, and the forms' instructions for more information. You can get publications and forms from the IRS website at www.irs.gov. You (or your estate) may want to get a qualified estate tax professional to help with estate tax questions.