New York State's estate tax is calculated using the tax table provided on Form ET706. There are multiple versions of Form ET-706.Form IT205I provides instructions to assist a fiduciary of a New York State resident estate or trust with filing form IT205. IMPORTANT: The fiduciary is responsible for filing all necessary tax forms. Note: The purpose of this guide is to help you settle the affairs of the deceased employee and to inform you of the benefits to which you may be entitled. The Executor is responsible for having the Will probated, collecting those assets of the decedent that pass under the Will (i.e. Payments made in the year subsequent to the employee's death are not subject to either withholding taxes or Social Security and Medicare taxes. Information on the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) and how it affects a foreign person with real property interest. The executor must collect the decedent's belongings and have them appraised as necessary. Paying outstanding debts and taxes.