JD Supra

IRS Extends Deadline to File Estate Tax Returns for Portability

On July 8, 2022, the IRS issued Revenue Procedure 2022-32, which provides a simplified method for taxpayers to obtain an extension of time to make a portability election of a deceased spouse’s unused ...

IRS Issues PLR Granting Extension for Portability Election to Transfer Deceased Spousal Unused Exclusion Amount

The IRS has issued a private letter ruling on I.R.C. §2010 and Treas. Reg. §301.9100 granting a 120-day extension to file Form 706 for making a portability election, allowing a ...
JD Supra

It is Now Easier and Less Expensive to File a Late Portability Election via Form 706

On July 8, 2022, the IRS issued Rev. Proc. 2022-32 that simplified the method for obtaining late relief for failure to timely make an estate tax portability election and extending the time for filing ...
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Here’s how you can file taxes for an estate in 4 steps

The task of settling an estate goes beyond distributing heirlooms and property. It delves into the complexities of the tax world. When a person passes away, the assets they leave behind, collectively ...