IRS Simplifies Extension Requests For Portability Elections

Law360, New York (January 28, 2014, 1:47 PM EST) -- The Internal Revenue Service on Monday detailed how taxpayers can receive a time extension to make portability elections and transfer a decedent spouse's unused estate tax exclusion to a surviving spouse in response to the U.S. Supreme Court's June ruling extending federal benefits to same-sex spouses.

Prior to the Supreme Court's U.S. v. Windsor ruling, surviving spouses in same-sex couples couldn't make portability elections, but they now can do so after the IRS and U.S. Department of the Treasury said they will recognize same-sex marriages for...
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