Estate and Gift Tax Forms

Estate and gift tax forms are documents required by the Internal Revenue Service (IRS) to report and calculate taxes on wealth transfers. When a person passes away, their estate must often be assessed for any taxes owed based on its total value. Similarly, if someone gives away large gifts during their lifetime, these gifts may be subject to tax. The most common forms include IRS Form 706 for estates and Form 709 for gifts. These forms help ensure compliance with tax laws when significant assets change hands, allowing the government to collect any taxes owed.