Estate and Gift Tax Return (Form 709)

Form 709, known as the Estate and Gift Tax Return, is a federal tax form filed by individuals who give large gifts or have an estate exceeding certain thresholds. It reports gifts made during the year and any estate transfers after death. The form helps determine if any gift or estate tax is owed to the government, based on applicable exemptions and tax rates. Filing this form ensures compliance with tax laws and accurately tracks gifts and estate transfers to prevent future tax issues.