A late Form 706 can involve separate failure-to-file, failure-to-pay, interest and other issues depending on the estate’s tax liability and facts. The first step is to determine the original due date and any valid extension.
What to review
- Original nine-month Form 706 due date
- Whether Form 4768 was timely filed
- Any tax due by the original payment date
- Weekend, holiday or disaster-relief rules
- Whether the return is being filed for portability only
Do not delay filing just to perfect every issue. Late-return strategy is fact-specific; consult the current IRS instructions and professional advisers where appropriate.