IRS Extends 2010 Estate Tax Deadlines

With Notice 2011-76 the IRS offers relief to those filing returns for 2010 decedents.  Large estates wishing to elect out of the estate tax will have until January 17, 2012 to file Form 8939.  Additionally, most estates that file (by the Form 706 due date) Form 4768 requests for extensions to file and pay will be granted extensions until March 19, 2012 to file and pay.  Executors won't have to substantiate the reason they need extensions to pay, but interest will be charged from the original due date of payment.  

For this and other relief, see Notice 2011-76 (Sept. 13, 2011) and News Release IR-2011-91 (Sept. 13, 2011).

Posted by David Perry, Managing Associate Editor.