An IRS form used by the executor of a decedent's estate to calculate the federal estate tax. Form 706 must be filed by the executor of the decedent’s estate if the gross estate, plus adjusted taxable gifts and specific exemption, is worth more than $12.92 million in 2023 ($12.06 million in 2022). Details of estate-planning issues with stock compensation are discussed in the section Financial Planning: Estate Planning.