Colorado Probate Blog - Wade Ash Woods Hill & Farley, P.C.

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IRS Delays Basis Reporting Due Date

As noted in an earlier blog, the "Highway Bill" signed into law on July 31, 2015 requires executors of estates filing U.S. Estate Tax Returns (Form 706) on or after that date to file a statement with the IRS within 30 days, and to report the fair market value of assets on the return to the beneficiaries. In Notice 2015-57, 2015-36 IRB, the IRS has delayed the due date for both the information return and the statement until February 29, 2016.

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