News & Analysis as of

Internal Revenue Service Deceased Spousal Unused Exclusion

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Lasher Holzapfel Sperry & Ebberson PLLC

It is Now Easier and Less Expensive to File a Late Portability Election via Form 706

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 portability returns from...more

Cole Schotz

Newly Enhanced Estate Tax Portability Relief under Revenue Procedure 2022-32

Cole Schotz on

Effective July 8, 2022, the IRS issued Revenue Procedure 2022-32 to supersede Revenue Procedure 2017-34 and now allow for a late estate tax exemption portability election to be made up to five (5) years from a deceased...more

Roetzel & Andress

IRS Extends Portability Election

Roetzel & Andress on

The Internal Revenue Service recently issued Rev. Proc. 2022-32 which provides that estates may elect “portability” of a deceased spouse’s unused exclusion (DSUE) up to five years after the decedent’s date of death. ...more

McDermott Will & Emery

Weekly IRS Roundup July 4 – July 8, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 4, 2022 – July 8, 2022...more

Burr & Forman

Projected Estate and Gift Tax Exemptions for 2018 – How Much Can You Transfer?

Burr & Forman on

The Consumer Price Index was released by the Labor Department in August 2017. Not everyone anxiously awaits the release of these numbers but the experts have now made estimates of how they will impact estate, gift, and...more

Genova Burns LLC

Making Use of a Deceased Spouse’s Unused Estate Tax Exemption Simplified

Genova Burns LLC on

The election for married couples to elect portability of the Federal Estate Tax Exemption was introduced in late 2010 when the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act (“TRUIRJCA”) was signed...more

Proskauer Rose LLP

Wealth Management Update - December 2016

Proskauer Rose LLP on

December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Holland & Knight LLP

Regulatory Update: Final Regulations on Portability of the DSUE

Holland & Knight LLP on

Portability of the deceased spousal unused exclusion (DSUE) amount between spouses was first introduced by Congress in December 2010, applicable to estates of married decedents dying on or after Jan. 1, 2011. Although...more

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