More Estates Forced to File With IRS Under Estate Portability Proposal

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IRS's procedure for claiming the unused estate tax exemption of a spouse, known as portability, on the Form 706 will force many more estates to file, practitioners tell BNA. In Notice 2011-82, IRS told executors of estates of people who died after 2010 that to claim the unused portion of a spouse's estate and gift tax exemption for 2011, they must file a complete and timely Form 706. Practitioners had been expecting a check-the-box election on the form, but IRS said it did not want estate executors to have to affirmatively elect portability.

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