WebThe return is due nine months after death, with a six-month extension option. Unfortunately, estates that aren’t otherwise required to file a return (because they don’t meet the filing … WebJul 29, 2024 · A personal representative filing a Form 706 to elect portability after nine months but within five years of the decedent’s date of death must state at the top of the …
Estates can now request late portability election relief for 5 years
WebThe IRS made a rule change that you need to know about for late portability elections. In Revenue Procedure 2024-34, the IRS provides a simplified method that allows an estate to obtain an extension of time to make a portability election up to five years after a … WebDue Date for Portability Election The portability election must be made within nine (9) months of the first spouse’s passing, although the executor may file for an extension before the due date. What happens if the election is not made on time? does mirabel have a brother
IRS Extends Deadline to File Estate Tax Returns for Portability
WebApr 12, 2024 · Elective 706 Filings - Portability Returns. griffinbridgers.substack.com. Copy link. Twitter. Facebook. Email. Elective 706 Filings - Portability Returns Perhaps the only procedure for a pared-down estate tax return. Griffin Bridgers. Apr 12, 2024. Share. WebJul 15, 2024 · Incredibly, the IRS published a revenue procedure last Friday extending filing deadlines for estates which only need to elect portability to 5 years after death. The time limit had been 2 years. Previously, the IRS would consider an extension beyond the 2 year limit in private letter rulings. WebJul 11, 2024 · If an estate has filed a request for a letter ruling seeking an extension of time to make a portability election and that letter ruling is pending in the National Office on July 8, 2024, the Office of the Associate Chief Counsel (Passthroughs and Special Industries) will close its file on the ruling request and refund the user fee, and the estate … does mirabel have black or brown hair