Here's another problem with last minute or retroactive tax planning by Congress - the IRS needs to come up with forms that you can file to comply with teh new law. Julie Garber reports today in Julies' Wills & Estate Planning Blog that the IRS is working on it:
• For the estates of people who died between January 1, 2010 and December 16, 2010, if they are filing a Form 706 Estate Tax Return, it will be due on September 19, 2011, so the IRS still has time to put the form together.
• For the estates of people who died between January 1, 2010 and December 16, 2010, if they are using the 1022 basis step up methodology, a form is being generated that again will be due on September 19, 2011, so the IRS still has time to put the form together
Please see full article below for more information.
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Tax Law Updates, Wills, Trusts, & Estate Planning Updates
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