Change in Filing Address for Forms 706 and 709

The final versions of Form 706, U.S. Estate (and Generation-Skipping Transfer) Tax Return, and Form 709, U.S. Gift (and Generation-Skipping Transfer) Tax Return, and their accompanying instructions have been issued by the IRS.

The Form 706 is to be used by the estates of decedents dying after December 31, 2017. The Form 709 is to be used to report gifts made during calendar year 2018.

Inflation-Adjusted Amounts

The Instructions for both Forms include the inflation-adjusted amounts applicable to estate, gift, and generation-skipping transfer (GST) taxes. For the estates of decedents dying and gifts made in 2018, the basic exclusion amount is $11.18 million, with a corresponding basic credit amount of $4,417,800. The ceiling on special use valuation is $1.14 million, and the amount used to compute the two-percent portion of estate tax payable in installments is $1.52 million.

The gift tax annual exclusion amount is $15,000 for 2018. For gifts made to a spouse who is not a U.S. citizen, the annual exclusion amount is $152,000.

Change in Filing Address

Forms 706 that are filed after January 1, 2019, and before June 30, 2019, should be mailed to Department of the Treasury, IRS Center, Cincinnati, OH 45999. If filed after June 30, 2019, Forms 706 should be send to Department of the Treasury, IRS Center, Kansas City, MO 64999.

Forms 709 that are filed in 2019 should be sent to Department of the Treasury, IRS Center, Kansas City, MO 64999.

The Form 706 (Rev. Nov. 2018) is available on the IRS website at https://www.irs.gov/pub/irs-pdf/f706.pdf. The Form 709 (Rev. 2018) is available on the IRS website at https://www.irs.gov/pub/irs-pdf/f709.pdf. The Instructions for Form 706 (Rev. Nov. 2018) are available on the IRS website at https://www.irs.gov/pub/irs-pdf/i706.pdf. The Instructions for Form 709 (Rev. 2018) are available on the IRS website at https://www.irs.gov/pub/irs-pdf/i709.pdf.

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