Tag: Portability
6 August 2022 - 17:40, by , in Estate Tax, Comments off
The IRS recently extended the time period for estates to elect portability of their deceased spouse’s unused estate tax exemption with Revenue Procedure 2022-32. Estates now have five years, instead of two, after the decedent’s date of death to make a portability election.  Portability allows a surviving spouse to claim the unused portion of their...