Apr-20-2020 - IRS is requesting comments regarding the section 6324A Special Lien for estate tax extended under a section 6166 election. Written comments should be received on or before June 19, 2020 to be assured of consideration. See federalregister.gov/d/2020-08203.
Apr-10-2020 - Notice 2020-23 provides Covid-19 filing extensions to July 15, 2020 for Forms 706 and section 6166 installment payments otherwise due on or after April 1, 2020 and before July 15, 2020, and other extension provisions.
Dec-03-2019 - Final regulations captioned Estate and Gift Taxes; Difference in the Basic Exclusion Amount (TD 9884), with a new entry for Reg. section 20.2010-1(c), were published on Nov-26-2019.
Nov-07-2019 - Rev. Proc. 2019-44 contains the following inflation-adjusted amounts for 2020: $11,580,000 unified credit (at item .41); $1,180,000 §2032A adjustment (at .42); $15,000 gift tax annual exclusion (at .43); and $1,570,000 as the §6601(j) 2% amount for purposes of section 6166 (at .51).
Nov-06-2019 - IRS is soliciting comments concerning Form 706-QDT. Form 706–QDT is used by the trustee or the designated filer to compute and report the Federal estate tax imposed on qualified domestic trusts by Internal Revenue Code section 2056A. Written comments should be received on or before January 6, 2020 to be assured of consideration.
Oct-25-2019 - IRS is soliciting comments concerning the collection of information related to the requirements to ensure collection of section 2056A estate tax. Written comments should be received on or before December 24, 2019 to be assured of consideration.
Oct-09-2019 - IRS released its initial 2019 - 2020 Priority Guidance Plan.
Sep-30-2019 - In PLR 201938002 a supplemental 706 return making a §2032 alternate valuation was filed wirthin one year of the original 706 filing date. IRS granted the request under §301.9100-3 because the estate had relied on a law firm's failure to advise it to make the alternate valuation request on the orignal return, and the supplemental return was filed in response to the law firm's determination that the election should have been made.