Major changes to estate and gift taxes are periodically a topic of discussion in Congress and the popular press. The Tax Cuts and Job Act (TCJA, PL 115-97) amended federal estate and gift tax provisions to temporarily increase the lifetime exclusion and the annual gift exclusion. As the clock ticks toward 2025 and the law’s sunset, CPAs may wish that they had a “crystal ball” to foretell the future of estate taxation.
This month’s column cannot provide any predictive abilities, but does explore free federal and state estate tax resources from the IRS, Findlaw, and two professional firms, to assist readers in providing estate tax planning services.
IRS Estate and Gift Taxes
The IRS Estate and Gift Tax landing page ( presents access to an organized collection of the IRS’s resources covering estate tax topics, gift tax topics, and a variety of related materials for nonresidents with U.S. estate and gift tax issues.
The estate tax main page ( provides a brief definition of the estate tax; a description gross estate, allowed deductions, and taxable estate. Form 706 is required to be filed if the decedent’s taxable estate, increased by adjusted taxable gifts, exceeds the filing threshold ($13,610,000 in 2024). The web format instructions for Form 706 are conveniently linked at the bottom of the estate tax main page, although the easiest place to locate the instructions for any IRS forms is
IRS Estate and Gift Tax
“What’s New–Estate and Gift Tax” ( covers the new process for obtaining an Estate Tax Closing Letter, and the new mailing address for estate and gift tax returns. The IRS clarifies that individuals taking advantage of the increased exclusion for 2018–2025 will not be adversely impacted in the computation of the estate tax credit under regulations pursuant to the TCJA. This web page also includes the current Basic Exclusion Amount table and an annual Gift Tax Exclusion Table.
The frequently asked questions on estate taxes ( address more than two dozen topics, from filing requirements, the need to make a change to an already filed return, and how to make an electronic payment. There are also several questions specific to preparing the estate tax return, IRS examinations, and international situations. The answers generally include links to other IRS web pages, tax forms and instructions, and IRS publications.
CPAs may find “Information for Executors” ( helpful to first-time executors. Additionally, the “Deceased Person” page ( is a good reference for executors and family members who are trying to finalize the tax filing requirements upon a taxpayer’s passing. Topics include how to file final tax returns, the responsibilities of an estate administrator, and deceased person identity theft.
“Estate Tax for Nonresidents not Citizens of the United States” ( addresses the estate taxation of U.S.-situated property, which may include both tangible and intangible assets. Estates must generally also report the total value of assets located outside the United States as of the date of death. The estate may be required to file Form 706-NA or to request a Transfer Certificate from the IRS indicating any tax has been fully discharged.
Findlaw
Findlaw offers free access to articles and news items, as well as federal and state primary source law, legal cases, and tools. In the estate planning area ( Findlaw materials are organized under estate planning, estate administration, wills, living wills and healthcare directives, powers of attorney, trusts, probate, and estate tax law. Estate tax subjects include federal and state estate, inheritance, and gift taxes. Most of the resources are provided at a general level; however, given the complexity of estate taxation and the ability to directly access primary source tax law, Findlaw may be a handy website for CPAs who do not deal with estate tax issues frequently.
The “Estate Tax Law” main page ( provides an overview of estate taxes and connections to articles that cover some issues regarding estate tax law basics and reducing estate taxes. A very handy listing of the 12 states with state-level estate taxes and six with state-level inheritance taxes is presented. The related article, “State Death Taxes: Estate Inheritance, and Gift Taxes” ( compiles a detailed table of all 50 states, along with links to the Findlaw resource for a particular state’s estate and inheritance tax laws—including states that do not currently assess any tax.
“Federal ‘Death Taxes’ FAQ” ( offers links to the IRS main estate tax and gift tax web pages, along with links to Findlaw’s resource for the Internal Revenue Code—specifically Title 26, Subtitle B, Estate and Gift Taxes ( The discussion also covers four trusts, such as the Qualified Terminable Interest Property (QTIP) Trust. “10 Ways to Reduce Estate Taxes” ( includes further coverage on trusts, as well as the obvious options of marital transfers, lifetime gifts to children and grandchildren, and gifting to minors. Family limited partnerships and private annuities are also addressed. “Estate Taxes and Life Insurance Taxes” ( is an excellent article that summarizes the three primary tax law restrictions to transferring insurance policies for estate tax purposes, as well as the two allowable methods: transferring policy ownership and transferring the policy to a life insurance trust.
Center for Financial Planning
The Center for Financial Planning (CFP) ( is a financial planning and investment management firm that also offers a speakers’ bureau for professional and employer groups, as well as free resources on its website. The “Resources” page ( presents information collections on typical financial planning subjects such as Social Security, tax planning, and estate planning. The “Estate Planning” page ( offers three useful downloadable pdf documents: Letter of Last Instruction, Personal Financial Record System, and Your Go-To List for Record Retention. A related 18-minute webinar covers the current estate tax environment, wills and trusts, and powers of attorney.
Estate Planning Law Center
The Estate Planning Law Center (EPLC) ( is a legal firm that specializes in estate and tax planning, asset protection, and Medicaid qualification. In addition to professional services, EPLC also offers free workshops and a weekly blog that publishes articles targeted to its service lines ( One attention-getting blog post concerns “The Risks of Giving Adult Children an ‘Advance’ on Their Inheritance,” which identifies three issues to consider. First, if a parent gives money or assets to one child, who may have a particular need, the other children may be jealous. Related to that, will that child accept a reduction in their eventual inheritance for the “advance?” Second, are the children mature enough to handle a sizeable amount of money on their own? Third, while the parent may be currently healthy and not expect to need those advanced funds, many will require expensive long-term care at some point in their lives.
Findlaw
link