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• Position: Filing of estate tax returns - Brief article

Late Estate Tax Returns and Penalties

The irregular filing due date for estate tax returns (Form 706), nine months after the decedent's date of death, is the primary reason for missed estate tax return filings. Late filing penalties exceed $300,000 in some cases. CAM ICO recommends the following loss prevention steps:

1. Implement a due date tracking system for estate tax returns. The system can be as simple as a calendar devoted solely to estate tax return due dates.

2. Have at least one person in the office be primarily responsible for tracking estate tax return filing deadlines (rather than having each tax partner or tax manager...