IRS Outlines Guidance on Filing Protective Claims for Refund of Estate Tax

For over 50 years, Bloomberg BNA’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

IRS releases guidance relating to the filing and subsequent resolution of a protective claim for refund of estate tax that is based on a deduction for a claim or expense under tax code Section 2053. A taxpayer that files a protective claim for refund and provides notification for consideration to the service in accordance with the procedures set forth in the revenue procedure will satisfy the requirements for claiming a refund as well as the requirements under Section 2053, IRS says in Revenue Procedure 2011-48.