WASHINGTON, DC - AUGUST 18: The Internal Revenue Service (IRS) building on Thursday, Aug. 18, 2022 in Washington, DC. (Kent Nishimura / Los Angeles Times via Getty Images) There is an onerous issue ...

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 ...

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.

On June 15, 2012 the Internal Revenue Service released temporary regulations and proposed rules regarding the portability of the deceased spousal unused exclusion (DSUE) amount. Here are the ...

If your estate and lifetime gift amounts are below the exemption amount, you do not have to file Form 706. However, there are reasons to file Form 706 if you are below the estate planning threshold.

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 ...

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 ...

In planning for the estate of a surviving spouse, the availability of the unused gift and estate tax exemption of his or her deceased spouse can be important, and particularly so with the impending ...