Form Instructions 706 for Tacoma Washington 2024-2025

Form Instructions 706 for Tacoma Washington: What You Should Know

The executor does not have to file a  Washington State estate tax return, and he does not need to pay the Washington (estate) tax if a Washington state estate tax return has already been filed. In this case the executor's estate tax liability will be refunded).  A taxpayer and/or those heirs he is representing have to file Form 706 and  information statements for any of the following: Gross Estate; Gross estate adjusted taxable gifts or specific exemption in excess of 10 million; Certain specific exemptions (exceeding 10  million).  If a nonresident taxpayer has an estate that is included in the gross estate, he (she) must,  and those whose tax liability he might not have to file will have to file Form 706: The executor or the personal representative has to file a Washington State (estate) tax return if he (she) has not already filed one.  In this case a nonresident taxpayer's estate tax liability will be refunded. You must get your Washington State estate tax return before October  2024, using your Federal Form 7720 (or Form 7710, or similar) The executor and the personal representative of an estate is not responsible to file a Washington State estate tax return; If an estate requires filing of a 706  return, executor's estate tax liability will be refunded. In this case, personal representative must file a Washington State (estate) tax return, even though tax was not remitted. But if no tax was remitted, the estate's tax liability will be refunded. A  Washington State (estate) tax return must be filed each year for a taxpayer or a family who had gross estate, gross estate adjusted taxable gifts, or specific exemptions in amounts exceeding 10 million on Dec. 31 of an even numbered year. (Note: If there is a discrepancy between the amount on your federal estate tax return and the amount on the Washington State tax return, a corrected Washington State tax return must be filed each year. ) You must use your federal Form 706 (or similar) to file your Washington state estate tax return. You  will have 30 days to file any state estate tax return.

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