What to Expect When Filing an Estate Tax Return

In 2023, a United States Estate Tax Return, Form 706, is required if a person dies owning more than $12.92 million in assets. Seventeen states also have some form of estate or inheritance tax, often with a lower threshold. Minnesota requires an estate tax return for estates with a value of $3 million or more. If you need to file an estate tax return, knowing what to expect can help the process move more quickly and smoothly.