AICPA Letter Recommends Longer Filing Period for Portability Election

The AICPA Tax Executive Committee is requesting relief for surviving spouses seeking to elect portability be provided by the IRS. In a recent letter the AICPA addresses the continuing problem of unawareness of portability and recommends a 15 month period for filing to elect portability from the time of the spouse’s death if the estate would not be required to file a Form 706 for a purpose other than electing portability. The letter also recommends the creation of a short Form 706-EZ for estates only electing portability.

See Alistair M. Nevius, AICPA Asks IRS for Portability Relief for Surviving Spouses, Journal of Accountancy, March 20, 2015.