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Automatic Extension for Executors of Estates for Most Decedents who Died in 2010

Posted by McDonald & Osborne Posted on Oct 09 2015

Executors of estates of most decedents who died in 2010 now can get an automatic extension until March 19, 2012, to pay any estate tax due as well as to file an estate tax return, the IRS announced.

Summarized below are a few of the provisions of the announcement:

  • Postpones from Nov. 15, 2011, to Jan. 17, 2012, the due date for Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent
  • Executors may obtain an automatic six-month extension of time to file an estate tax return and pay estate taxes due by filing Form 476
  • Although the extension of time to file is automatic, an extension of time to pay estate tax normally is granted only for good cause shown
  • Estates of decedents who died between Dec. 17, 2010, and Dec. 31, 2010, may also receive an automatic 6-month extension to file Form 706 and pay estate tax.
  • Provides relief for certain persons who received property under section 1022 and disposed of it during 2010.
  • Provides timeliness penalty relief for executors with respect to filing or amending Form 8939

Read full article with complete details:

2010 Estate Tax Payment, Carryover Basis Election Extended

Lisa Osborne
Office Administration

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