Even after death, your heirs may still have to file a separate tax return for you with the Internal Revenue Service. If your accumulated wealth is greater than $5.25 Million, then your executor must file Form 706 – The Estate Tax Return.
Form 706 is an estate tax return filed with the IRS. Form 706 is an accounting for the assets and liabilities of the deceased at the moment of death.
When an individual passes away, his/her will or trust identifies a representative to administer his/her estate. This representative is referred to as the executor (male) or executrix (female) and is generally approved or assigned by the local circuit court. The Internal Revenue Service tasks this representative to file a final personal return and information returns until the estate is completely transferred to the heirs.