Estate Tax Return

An Estate Tax Return is a legal document that must be filed with the government when someone passes away and their estate exceeds a certain value threshold. This return reports the total value of the deceased's assets, including property, investments, and cash, to calculate any taxes owed on the estate. The purpose of the estate tax is to tax the transfer of wealth from the deceased to their heirs. The filing is typically done by the executor of the estate and is required by the IRS, usually within nine months of the individual's death.