Instructions for Form RI-706 Estate Tax Return - Date of Death on or After 1 / 1 / 2015 - Rhode Island

Form RI-706 Estate Tax Return - Date of Death on or After 1/1/2015 - Rhode Island

This document contains official instructions for Form RI-706 , Estate Tax Return - Date of Death on or After 1/1/2015 - a form released and collected by the Rhode Island Department of Revenue - Division of Taxation. An up-to-date fillable Form RI-706 is available for download through this link.

FAQ

Q: What is Form RI-706 Estate Tax Return?
A: Form RI-706 Estate Tax Return is a tax form used to report and pay estate taxes in the state of Rhode Island.

Q: When is Form RI-706 Estate Tax Return used?
A: Form RI-706 Estate Tax Return is used when someone passes away on or after January 1, 2015 in Rhode Island.

Q: What is the purpose of Form RI-706 Estate Tax Return?
A: The purpose of Form RI-706 Estate Tax Return is to calculate and pay any estate taxes owed to the state of Rhode Island.

Q: What information is required on Form RI-706 Estate Tax Return?
A: Form RI-706 Estate Tax Return requires information such as the decedent's personal details, assets, liabilities, and any applicable deductions.

Q: When is the deadline to file Form RI-706 Estate Tax Return?
A: Form RI-706 Estate Tax Return must be filed within nine months from the date of the decedent's death.

Q: Are there any extensions available for filing Form RI-706 Estate Tax Return?
A: Yes, extensions may be granted upon request, but the tax liability must be paid by the original deadline to avoid penalties and interest.

Q: How do I pay the estate tax owed on Form RI-706 Estate Tax Return?
A: The estate tax owed can be paid by check or electronic funds transfer (EFT) using the instructions provided on the form.

Q: Is professional assistance recommended for completing Form RI-706 Estate Tax Return?
A: Yes, it is recommended to seek professional assistance from an attorney or tax preparer familiar with Rhode Island estate tax laws to ensure accurate completion and compliance.

Q: What happens if I do not file Form RI-706 Estate Tax Return?
A: Failure to file Form RI-706 Estate Tax Return may result in penalties, interest, and possible legal consequences.