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 706 Iowa Inheritance Estate Tax Return Form 2020

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I've had at least four conversations in the last week about estate tax returns and whether or not people should file them they don't want to spend the money on them is it really necessary and the long and the shortest it's not necessary 100 not necessary at all the state tax return for most people isn't necessary because you don't have a taxable estate the exemption amount in 2023 is 12.92 million dollars per person so for a married couple rights close to 26 million dollars now why would you want to spend money on an estate tax return well let me tell you um you would want to if there's a possibility that the assets that you have are going to increase in value or in the event that the estate tax exemption amount is going to go down in the future I've had many clients that did not file an estate tax return for a deceased spouse and when you don't do that you lose their exemption amount so uh for somebody if their spouse was

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