On July 8, 2022, the IRS issued Rev. Proc. 2022-32 that simplified the method for obtaining late relief for failure to timely make an estate tax portability election and extending the time for filing ...

On July 8, 2022, the IRS issued Revenue Procedure 2022-32, which provides a simplified method for taxpayers to obtain an extension of time to make a portability election of a deceased spouse’s unused ...

A common financial mistake married farm couples make occurs when the first spouse dies, and the surviving spouse fails to “elect portability.” It’s a process by which any unused federal gift or estate ...

One of the most overlooked and misunderstood tax laws – available to married farming couples – is an opportunity called portability. When one of the spouses dies, the surviving spouse can make a ...

The estate tax "portability" provision, which was a part of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, allows a surviving spouse to benefit from the unused ...