Executors Must File 706 to Preserve Portability!

This is urgent, for any executors of the estates of decedents dying after 12/31/2010: even if the estate is less than the $5,000,000 exclusion amount for estate tax, you still must file a 706 return in order to allow the decedent’s surviving spouse to make use of the deceased spouse’s unused exclusion amount (DSUEA), called “portability” of exclusion.  See IRS Notice 2011-82 here.

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