The IRS has released a revenue procedure this week allowing taxpayers who fall below the threshold for having to file an estate tax return, but who want to claim the portability exclusion, a simplified method for getting an automatic extension of time to file.

Revenue Procedure 2014-18  provides an automatic extension of time for certain estates without a filing requirement to elect portability of the decedent’s unused exclusion amount for the benefit of the decedent’s surviving spouse. Those eligible must be decedents who were United States citizens, or residents who died after 2010 and before 2014, among other requirements.

The relief comes in response to many requests from taxpayers who may have been Read More