see this article:
https://legalbeagle.com/12720988-why-does-a-probate-require-an-appraisal-on-the-decedents-property-u...
note that this is an income tax forum so answers to questions you have should come from a pro knowledgeable in estate matters. also, state laws vary. some states have an inheritance or estate tax others do not. if a state return is due it might be sooner or later than 9 months.
as you can see by the article, not everything needs a formal independent appraisal, but if they are needed they should be done in a timely manner so any taxes due can be properly and timely determined.
For decedents who died in 2020, Form
706 must be filed by the executor of the
estate of every U.S. citizen or resident:
a. Whose gross estate, plus
adjusted taxable gifts and specific
exemption, is more than
$11,580,000; or
b. Whose executor elects to transfer
the DSUE amount to the surviving
spouse, regardless of the size of the
decedent's gross estate. See the
instructions for Part 6—Portability of
Deceased Spousal Unused
Exclusion, later, and sections
2010(c)(4) and (c)(5).
To determine whether you must file a
return for the estate under (a) above,
add:
1. The adjusted taxable gifts (as
defined in section 2503) made by the
decedent after December 31, 1976;
2. The total specific exemption
allowed under section 2521 (as in effect
before its repeal by the Tax Reform Act
of 1976) for gifts made by the decedent
after September 8, 1976; and
3. The decedent's gross estate
valued as of the date of death.
You must file Form 706 to report estate
and/or GST tax within 9 months after the
date of the decedent's death.
a 6 month extension can be filed
Paying the Tax
The estate and GST taxes are due
within 9 months of the date of the
decedent's death. You may request an
extension of time for payment by filing
Form 4768. You may also elect under
section 6166 to pay in installments or
under section 6163 to postpone the part
of the tax attributable to a reversionary
or remainder interest. These elections
are made by checking “Yes” on lines 3
and 4 (respectively) of Part 3—Elections
by the Executor and attaching the
required statements.
If the tax paid with the return is
different from the balance due as
figured on the return, explain the
difference in an attached statement. If
you have made prior payments to the
IRS, attach a statement to Form 706
including these facts.
