The Ultimate Guide to 706 Estate Tax Return Software: Simplifying Complex Tax Filing

When dealing with estate planning, one of the most crucial steps is ensuring that the proper estate tax returns are filed. For estates that exceed a certain value, filing a 706 Estate Tax Return is not just a formality—it’s a legal requirement. However, the process can be overwhelming due to its complexity and the extensive documentation required. Fortunately, with the help of 706 Estate Tax Return software, this process has become far more manageable.

In this article, we’ll explore everything you need to know about 706 Estate Tax Return software, including its benefits, key features, and how to choose the best software for your needs.

---

What is the 706 Estate Tax Return?

Before diving into the software solutions available, it’s essential to understand what the 706 Estate Tax Return is and when it’s required.

The 706 Estate Tax Return is used to report the estate tax owed by the deceased’s estate to the IRS. It’s required when the estate’s value exceeds the federal estate tax exemption limit, which, as of 2025, stands at $12.92 million. The return must be filed within nine months of the individual’s passing, and failure to do so may result in significant penalties and interest.

---

Why You Need 706 Estate Tax Return Software

Filing a 706 Estate Tax Return is far from a simple task. It involves complex forms, numerous schedules, and detailed calculations. Even small errors can lead to costly mistakes. Here are a few reasons why using 706 Estate Tax Return software is crucial:

• Accuracy: Automated software reduces the likelihood of errors, ensuring that all calculations are correct.
• Time-Saving: Rather than manually filling out intricate forms, software streamlines the entire process.
• Compliance: Estate tax law is ever-changing. With software, you’ll be up to date on the latest requirements and forms.
• Simplified Filing: The software guides users through each section, offering explanations and checks to ensure everything is completed correctly.

---

Key Features to Look for in 706 Estate Tax Return Software

Not all 706 Estate Tax Return software is created equal. To ensure you’re selecting the best option, look for these key features:

1. Comprehensive Form Support

Your software should support all the required forms and schedules for the 706 return, including Form 706, Schedule A (Real Property), Schedule G (Charitable Deductions), and more. Having all the forms you need in one platform ensures that nothing gets overlooked.

2. User-Friendly Interface

Estate tax returns are complicated, so the software should make the process as easy as possible. Look for a clean, intuitive interface that guides you step-by-step. Many solutions offer drag-and-drop functionality and fillable fields, making them much more accessible to those without a tax background.

3. Integration with Other Tools

Estate planning often involves multiple aspects—asset management, charitable deductions, and more. Software that integrates with other tools (such as accounting software or estate planning documents) can save you significant time and reduce data entry errors.

4. Real-Time Calculations

Tax laws and exemption limits change frequently. The best software offers real-time calculations, so you always know how changes impact your estate tax situation. Additionally, it should be able to handle complex scenarios like trusts, gifting strategies, and special deductions.

5. E-filing Capabilities

E-filing has become the norm, and the IRS accepts electronic filing for Form 706. Software that offers e-filing capabilities not only saves time but also ensures that your return is submitted in the most efficient and accurate manner.

---

Top 706 Estate Tax Return Software Solutions

With so many options on the market, choosing the right software for your 706 estate tax filing can be difficult. Here are a few top contenders that are highly recommended:

1. Intuit ProSeries Tax Software

Intuit ProSeries is a well-known name in tax preparation software, and it provides a robust 706 Estate Tax Return solution. With user-friendly features, comprehensive form support, and an extensive library of resources, ProSeries is a solid choice for both professionals and individuals.

2. Wolters Kluwer CCH Axcess Tax

Wolters Kluwer CCH Axcess is a cloud-based tax software that offers a highly customizable 706 estate tax return filing solution. Ideal for professionals dealing with high-net-worth estates, it integrates seamlessly with other accounting and tax tools, offering a comprehensive platform for all your estate planning needs.

3. Drake Tax

Drake Tax is another solid software option, known for its easy-to-navigate interface and low price point. Drake Tax supports all 706 estate tax forms and provides additional tools to help users navigate complex estate scenarios.

---

How to Choose the Right 706 Estate Tax Return Software

Choosing the right software for your estate tax return can depend on several factors, including your experience level, the complexity of the estate, and your budget. Consider these questions when making your decision:

• Is the software user-friendly? If you’re not a tax expert, you’ll need software that’s intuitive and easy to navigate.
• What is the cost? Look for software that fits within your budget, especially if you’re filing a relatively straightforward return.
• Do you need professional-level tools? If you’re working on large estates or need advanced features like integration with other financial systems, a professional-grade solution might be worth the investment.

---

Conclusion: Making Estate Tax Filing Easier with Software

Filing a 706 Estate Tax Return is an essential part of estate planning for high-net-worth individuals. While the process can seem daunting, the right software can make the process simpler, more accurate, and less time-consuming. By choosing a platform with the features discussed above, you can streamline your filing and ensure compliance with the latest tax laws.