A surviving spouse can inherit as much as $15 million of a deceased spouse’s unused federal estate and gift tax exemption in ...

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 ...

The new Part 6 of the draft Form 706 states that a decedent with a surviving spouse elects portability of the DSUE amount, if any, by completing and timely filing the Form 706. No further action is ...

A common financial mistake married farm couples make occurs when the first spouse dies, and the surviving spouse fails to “elect portability.” It’s a process by which any unused federal gift or estate ...

On Oct. 4, the Internal Revenue Service posted final Form 706 for individuals dying in 2012. It posted final updated instructions on Oct. 12. Here’s an overview of the new form and instructions and ...

A single piece of paperwork can quietly determine whether a surviving spouse keeps or loses millions in tax protection. That sounds dramatic, but it's exactly what's at stake with estate portability.

The estate tax "portability" provision, which was a part of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, allows a surviving spouse to benefit from the unused ...

One of the most overlooked and misunderstood tax laws – available to married farming couples – is an opportunity called portability. When one of the spouses dies, the surviving spouse can make a ...

The IRS has just changed the timeframe for filing a late portability election for federal estate tax purposes. This is extremely important to those who did not timely file a federal estate tax return ...