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2010 Estate Tax Returns

Posted by taxguru on September 13, 2011

It’s an understatement to say that the entire issue of estate tax returns for people who passed away in 2010 is a confusing mess.  IRS is even more confused and behind than anyone, so they just issued this news release.

IRS Offers Filing and Penalty Relief for 2010 Estates; Basis Form Now Due Jan. 17; Extension to March Available for Estate Tax Returns

Form 8939, to reflect carryover basis info, isn’t even available yet; but it’s now due to IRS by 1/17/2012 instead of the previously announced deadline of 11/15/2011.

Form 706 and its instructions were finally published last week, on 9/8/2011.

IRS Notice 2011–76 has more details.

Luckily, the estate tax for 2010 decedents only applies to estates of over $5,000,000, so it won’t affect most people, including our clients who passed away last year.


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