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IRS extends deadline for portability election

3-16-2012 - For the purpose of electing portability, the IRS is granting a six month extension to the estates of married persons who passed away between Jan. 1, 2011 and June 30, 2011. The portability election allows the surviving spouse to utilize any unused portion of the decdent's lifetime estate tax exemption. The estate must file IRS Form 4768 and Form 706 no later than fifteen months after death. Click here for more information and detailed instructions from the IRS.

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