Identify which of the following statements is true.
A)In general, an estate tax return is not required to be filed unless the value of the gross estate and adjusted taxable gifts exceeds the exemption equivalent.
B)Estate taxes must be paid when the return is filed, including any extensions.
C)The estate tax return is due, ignoring extensions, 12 months after the decedent's date of death.
D)All of the above are false.

Question

Quizplus · Accepted Answer

A is true. B is false because estate taxes can be paid in installments over several years. C is false because the due date for the estate tax return is generally 9 months after the decedent's date of death, with the possibility of a 6-month extension. D is false because at least one statement is true.

Identify Which of the Following Statements Is True