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What is revised 712?
Revised 712 refers to the updated version of IRS Form 712 - Life Insurance Statement.
Who is required to file revised 712?
Individuals who are beneficiaries of a life insurance policy or are involved in the administration of an estate may be required to file revised 712.
How to fill out revised 712?
Revised 712 must be filled out accurately with detailed information about the life insurance policy, the insured individual, and the beneficiaries.
What is the purpose of revised 712?
The purpose of revised 712 is to provide the IRS with information about the value of a life insurance policy that is included in the estate of a deceased individual.
What information must be reported on revised 712?
Revised 712 typically requires information about the policy owner, insured individual, beneficiaries, policy value, and any loans taken out against the policy.
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