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Instructions for Form 706 - Introductory Material

Table of Contents

Prior Revisions of Form 706 After For Decedents Dyingand Before Use Revision ofForm 706 Dated December 31, 1998 January 1, 2001 July 1999 December 31, 2000 January 1, 2002 November 2001 December 31, 2001 January 1, 2003 August 2002 December 31, 2002 January 1, 2004 August 2003 December 31, 2003 January 1, 2005 August 2004 December 31, 2004 January 1, 2006 August 2005 December 31, 2005 January 1, 2007 October 2006 December 31, 2006 January 1, 2008 September 2007 December 31, 2007 January 1, 2009 August 2008

What's New

  • Use this revision of Form 706 only for the estates of decedents dying in calendar year 2009.

  • The applicable exclusion amount for estates of decedents dying in calendar year 2009 is $3,500,000.

  • Various dollar amounts and limitations relevant to Form 706 are indexed for inflation. For decedents dying in 2009, the following amounts have increased:

    a. The ceiling on special-use valuation is $1,000,000.

    b. The amount used in computing the 2% portion of estate tax payable in installments is $1,330,000.

    The IRS will publish amounts for future years in annual revenue procedures.

Reminders

In 2008, we added a worksheet to help executors figure how much of the estate tax may be paid in installments under section 6166. See Determine how much of the estate tax may be paid in installments under section 6166 on page 11 for details.

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