Professional Development Foundation, Inc.’s text The Federal Estate Tax: Preparation of the 706 employs a how-to approach to the preparation of Form 706, the federal estate tax return. It leads the reader step by step through the return. At each step, the reader may employ the text as a “desk book” to answer questions which arise during the planning and compliance level, as well as specific questions which arise during preparation of the return.

The text provides information, explanations, and examples of each entry on the return, including reporting requirements, itemizations, elections, deductions, and credits. Form 706 provides an excellent format for studying and understanding the provisions of the Internal Revenue Code. By analyzing the structure of Form 706, the reader not only develops a clear picture of the estate tax, but also learns to apply the underlying rules to various situations.

The subjects listed to the left under Form 706 provide a brief overview of the text The Federal Estate Tax: Preparation of the 706 and the form and flow of the Form 706. The reader is advised that the text and the information provided here serve as educational supplements only. They are not source material. Nor, are they a substitute for legal and other professional advice. All readers are advised to obtain legal and/or other professional advice on any and all matters related to the subject matter of the text and this website. Readers are advised to consult all original source materials related to or pertaining to, the subject matter of the text and this website including, but not limited to, the Internal Revenue Code, regulations (final, temporary, and proposed), rulings, court decisions, and IRS guidance, notices, and publications.

Given the mutable nature of the laws surrounding the estate tax and other transfer taxes, Professional Development Foundation, Inc. updates the text regularly, taking into account the information and materials available through the date of each revision. The revisions or updates are designed to assist readers in keeping abreast of current developments. The current version of the text includes Update Number 96, revisions through July 25, 2008.

© 2008 E. Bennett Bolton

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