Form 706 Deadline is Near!

The deadline for filing a U.S. Estate Tax Return (Form 706) for a 2010 decedent is September 19, 2011 under the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the "Act"). If you are still unsure whether or not to file a Form 706 or the Form 8939 that is due November 15, 2011 to elect out of the estate tax system and into the carryover basis system, then you probably want to file a Form 4768, application for automatic 6-month extension of time to file. See our January 2011 newsletter for a more complete discussion of the Act.