How To Pay Estate Tax Online

Your 'Gross Estate' is a sum total of everything you own and the estimated value of it at the time of your death. The value of these items is valued at the fair market value. This is not what you paid for them or what they were worth at the time you received them. Items that are included in the estate are securities, cash, insurance, real estate, trusts, and any other assets. After you have totaled the value of all of these items, this is the amount of the taxable estate, and someone is responsible for making sure these taxes are paid.

Estate taxes should be paid in nine months after the death of the owner of the estate. However the executor of the estate can request a six month extension if they request it before the due date of the taxes. There are certain deductions that can be taken from the tax amount. Things like outstanding debts such as mortgages, estate administration expenses, other debts, and property that have been passed from the owner to another person or charities, prior to their death.

When you are prepared to pay the estate tax, you may choose to pay the tax online. Many people pay their taxes and other bills online because it is easy and convenient. The tax form for Estate Tax is the Form 706 US Estate Tax return. Those who are required to file an estate tax form and pay estate taxes are those whose assets exceeding $1,500,000 in 2004 - 2005, $2,000,000 in 2006 - 2008, and $3,500,000 for those who passed away on or after January 1, 2009. Those who had property that was not valued as much as the amounts stated, or was jointly owned by the deceased and another party, such as a spouse, do not have to pay estate taxes.

If the executor of an estate does not know how to file the forms and pay the estate taxes, they can get a lawyer, accountant, or tax preparer to assist them. If you need assistance to find the correct US estate tax forms, you can find them here: You can also pay the taxes online through this website by using their options available there. Electronic filing and paying of tax forms is a very convenient way to take care of your tax business. You can also download the forms, print them out, sign them and send them in with your tax payment.


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