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AICPA Insights is the official blog for the American Institute of CPAs. AICPA Insights features posts from AICPA staff on a variety of topics affecting the accounting profession, the Institute and its members. Language: en-us Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Relief for Missed Portability Elections
Friday, 14 February, 2014
In this podcast, Bob Keebler covers Revenue Procedure 2014-18, which provides a simplified method for certain taxpayers to obtain an extension of time to make a portability election. Rev. Proc. 2014-18 provides an automatic extension for certain estates of decedents dying in 2011, 2012 and 2013 to elect portability. The extension applies to estates that would otherwise not have had a filing requirement, and allows the estates to file a return to elect portability until December 31. It includes the estates of same-sex decedents who were not eligible to elect portability until after the Windsor decision.