Form 706Me Ez PDF Details

Dealing with the aftermath of a loved one's passing is a challenging time, filled with both emotional and administrative tasks that need to be completed. Among these tasks is the responsibility to handle the deceased's estate, which might include filing tax returns related to the estate. For individuals managing estates in Maine for decedents who passed away in the calendar year 2012, with gross estates and adjusted taxable gifts not exceeding $1,000,000, the Form 706ME-EZ serves as a critical document. This form, titled "Estate Tax Information Return for Lien Discharge," is designed to simplify the estate tax return process for smaller estates. It requests essential information about the decedent, the estate's value, and details concerning gifts exceeding annual exclusion limits. Importantly, the form is not just a means of reporting but also plays a role in the discharge of any estate tax lien. When the federal estate tax filing is not required but there's a need to clear a tax lien, this form provides a streamlined avenue. Additionally, it outlines the responsibilities of the personal representative, the necessity of including specific documents such as the decedent’s will, and instructions for completing associated worksheets. However, it's critical to note that if the federal gross estate plus adjusted taxable gifts exceed $1,000,000, or there's a requirement to file a federal Form 706, the estate cannot use Form 706ME-EZ and must instead file Maine Form 706ME, illustrating the specific eligibility criteria for utilizing this simplified process.

QuestionAnswer
Form NameForm 706Me Ez
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesmaine estate discharge, maine estate discharge get, estate information return, 706me estate taxable form

Form Preview Example

FORM 706ME-EZ

2012

MAINE REVENUE SERVICES

ESTATE TAX INFORMATION RETURN

FOR LIEN DISCHARGE

99

*1211000*

FOR ESTATES OF DECEDENTS DYING DURING CALENDAR YEAR 2012 WITH GROSS ESTATES PLUS ADJUSTED TAXABLE GIFTS OF NOT MORE THAN $1,000,000. FOR MORE INFORMATION, GO TO www.maine.gov/revenue/incomeestate/estate

STEP 1

If federal Form 706 is required to be fi led for the estate, use Form 706ME.

Estate of:

First Name

- -

Social Security Number (SSN)

Domicile at Date of Death:

M.I. Last Name Date of Death:

MM

/

DD

/

YYYY

-

Estate EIN

Street Address

City/Town

State

ZIP Code

County

Personal Representative or Person in Possession of Decedent’s Property:

First Name

M.I. Last Name

- -

Personal Representative’s SSN

-

Telephone Number

-

-

Fax Number

-

Personal Representative’s Mailing Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

_______________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City/Town

 

 

 

 

 

 

 

 

 

 

State

 

ZIP Code

 

 

 

 

Email Address

STEP 2 Authorization is granted to the representative listed below to receive copies of confidential tax information related to this return under 36 MRSA § 191 and to act as the estate’s representative before Maine Revenue Services.

Firm Name

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contact Person: First Name

 

 

M.I. Last Name

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contact Person Mailing Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

 

 

 

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City/Town

 

 

 

 

 

 

State

 

ZIP Code

 

 

 

 

 

Telephone Number

 

 

 

 

 

 

___________________________________________________

 

 

 

 

-

 

 

 

 

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Email Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fax Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STEP 3 Decedent’s Maine Residency Status (check one)

 

 

 

 

 

 

 

Resident

 

 

 

 

 

 

 

 

Nonresident

 

 

 

 

 

 

 

 

 

 

 

 

 

STEP 4 1. Did the decedent make any gifts in excess of the applicable annual exclusion from gift tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

after December 31, 1976?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.

 

 

 

Yes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1a. If Yes, enter amount: $______________________ 1b.

Were federal gift tax returns filed?

 

 

 

 

 

 

 

 

1b.

 

 

 

Yes

 

 

 

 

 

 

 

 

 

 

 

 

2. Marital Status of Decedent ....

 

 

 

 

Married with surviving spouse

 

 

 

Widow/Widower

 

 

 

 

Single/Divorced

No

No

2a. If married/widow/widower, enter spouse’s name: __________________________________

and SSN

 

3. Enter the amount from Worksheet, column B, line 12 (see instructions)

3.

$

-

,

-

,

.00

THE PERSONAL REPRESENTATIVE IS PERSONALLY LIABLE FOR ANY TAX DUE IF IT IS LATER DETERMINED THAT MAINE ESTATE TAX LIABILITY EXISTS.

Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements and to the best of my knowledge and belief they are true, correct and complete. Declaration of preparer is based on all information of which preparer has any knowledge.

______________________________________________________________________

Signature of Personal Representative

______________________________________________

Signature of Preparer other than Personal Representative

Preparer’s SSN or PTIN

____________

Date

____________

Date

__________________________

______________________________

(

)

____________________

Firm’s Name (or preparer’s if self-employed)

Preparer’s Address

Preparer’s Telephone Number

INSTRUCTIONS

MAINE ESTATE TAX INFORMATION RETURN FOR LIEN DISCHARGE

IF THE FEDERAL GROSS ESTATE PLUS ADJUSTED TAXABLE GIFTS IS MORE THAN $1,000,000, OR IF A FEDERAL FORM 706 IS REQUIRED, YOU CANNOT USE FORM 706ME-EZ. YOU MUST FILE MAINE FORM 706ME.

Note: 1) The value of the decedent’s gross estate is the fair market value at date of death of all property, real or personal, tangible or intangible, wherever situated. Gross estate value is not the same as the probate estate value.

2)Adjusted taxable gifts is the total value of gifts made by the decedent after December 31, 1976 in excess of the annual exclusion from gift tax.

The following documents must be included with Form 706ME-EZ:

A copy of the decedent’s will.

A copy of the Certifi cate of Discharge of Estate Tax Lien containing a description of the property.

A copy of the appraisals or documentation of fair market value at the time of death. Provide a list and description of assets.

A completed worksheet for Form 706ME-EZ, Line 3.

A copy of federal Forms 709.

SPECIFIC LINE INSTRUCTIONS

Step 1 Enter all required information. Failure to fully complete Step 4

 

 

 

 

 

 

this section will delay the processing of the return. If a

 

Line 1 On line 1a, enter the value of gifts in excess of the

 

personal representative has not been appointed, every

 

 

 

 

applicable annual exclusion from gift tax made by

 

person in possession of any property of the decedent is

 

 

 

 

 

the decedent. On line 1b, indicate if any federal

 

considered a personal representative and must be listed

 

 

 

 

 

gift tax returns were filed by or on behalf of the

 

as a personal representative on the return that is filed

 

 

 

 

 

decedent.

 

 

 

for the estate. A personal representative can also be

 

 

 

 

 

 

 

 

 

 

 

 

known as an executor. If there is more than one personal

 

Line 3 Enter the gross value of the estate from column B,

 

representative, fill in the information for one and attach a

 

 

line 12 of the worksheet below. If column B, line

 

schedule listing all personal representatives.

 

 

12 is more than $1,000,000, you cannot use Form

Step 2 This section must be completed if you choose to have

 

 

706ME-EZ; you must fi le Form 706ME.

 

 

 

 

 

 

 

copies of confidential tax information sent to anyone other

SIGNATURE: A personal representative of the decedent is

 

than the personal representative.

 

 

required to sign this return.

Failure to do so will

Step 3 Check the appropriate box for the decedent’s residency

 

 

result in the return being rejected, further delaying

 

 

its processing.

 

 

 

status at the time of death. See Maine Rule 807 at www.

 

 

 

 

 

 

 

 

 

 

 

 

maine.gov/revenue/rules.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worksheet for Form706ME-EZ, Line 3

 

 

Name __________________________________

 

 

This worksheet must be completed or Form 706ME-EZ will not be processed.

 

 

 

 

(Attach a detailed description of all assets, including the fair market value of

 

 

 

 

 

 

 

each) For more information, to to www.maine.gov/revenue/incomeestate/guidance

 

Social Security Number ______/_____/______

 

 

 

and select “Maine Estate Tax Guidance Document .”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value

 

Line

 

 

 

 

 

 

 

 

 

 

Gross Estate

 

 

 

Column A

Column B

 

Number

 

 

 

 

 

 

 

Taxable by

Federal Gross

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Maine

Estate

1Real Estate (Please include Real Estate Documentation of Value)

2Stocks and Bonds

3Mortgages, Notes and Cash

4Insurance on the Decedent’s Life (attach Form(s) 712)

5Jointly Owned Property

6Other Miscellaneous Property

7Transfers During Decedent’s Life ( include revocable trust(s))

8Powers of Appointment

9Annuities/Retirement Assets

10Trusts or Pass-through Interest

11Taxable Portion of Gifts Shown on page 1, line 1a

12Total Gross Estate (add lines 1 through 11 and enter the total from column B on page 1, line 3)

13

Marital Deduction

If the estate contains Maine elective property, Form 706ME must be filed. For more information on Maine QTIP property and Maine elective property, see www.maine.gov/revenue/incomeestate/estate/.

 

MAINE REVENUE SERVICES

 

MAIL RETURN TO:

P.O. BOX 1064

 

 

AUGUSTA, ME 04332-1064

Rev. 08/11

Page 2