Beth Kaufman Talks to Tax Notes on Extended Time Period for Estate and Gift Tax Exemption

A new revenue procedure extends the grace period for some taxpayers to claim a deceased spouse’s unclaimed estate and gift tax exemption in a move that should be a timesaver for both the IRS and taxpayers.

“To me, it looks like a win-win situation,” Beth Shapiro Kaufman of Caplin & Drysdale told Tax Notes. “It will save qualifying estates . . . the cost and delay of having to request a [private letter ruling], and it will reduce the IRS National Office’s workload by eliminating those requests for relief.”


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