New Estate Tax Form Available from IRS

Form 706 for Decedants dying during 2005 is now available. Two significant features of the new form is the elimination of the state death tax credit line (this credit has been phased out with a deduction replacing it) and a new question asking whether the decedant received moneys from a generation-skipping transfer trust created after October 22, 1986 (the date where TRA 86 was signed into law) and, if so, whether there was a GST termination at death.