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

December 31, 2014 Deadline for Portability Return

Rev. Proc. 2014-18 gives surviving spouses an extended deadline for filing a U.S. Estate Tax Return (Form 706) in order to add the deceased spouse's unused exclusion amount to his or her own estate tax exemption. However, such a return must be filed by December 31, 2014. Ordinarily, a "portability" return must be filed by the due date of the return: nine months after date of death, or, if an extension is requested, 15 months after date of death. This extended deadline only applies to estates of decedents with gross estates less than the filing threshold: $5,340,000 for decedents dying in 2014.

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