• New revenue procedure provides method to obtain extension of time to make portability election for certain estates—Revenue Procedure 2014-18 describes the method for applying for an extension to elect portability for a decedent’s unused exclusion amount on Form 706. Under Internal Revenue Code Section 2010 and the temporary regulations issued in 2012 (Temporary  Regulations Section 20.2010-2T), a portability election is effective only if made on a Form 706 ...

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