The Internal Revenue Service has issued final rules regulating the portability of a deceased spousal unused exclusion (DSUE) amount to the surviving spouse. This final rule will apply to the estates of individuals who die on or after June 12, 2015. The new regulation will also grant an extension for electing portability to estates that fall below the threshold listed in Sec. 6018 of the Internal Revenue Code. “In addition, the final regulations include changes that clarify certain rules about the application of the portability rules to qualified domestic trusts, the availability of a DSUE amount by a surviving spouse who becomes a citizen of the United States, and the impact of credits in Secs. 2012 through 2015 on computing the DSUE amount.”
See Sally P. Schreiber, J.D., IRS issues final portability rules for estate tax exemptions, Journal of Accountancy, June 15, 2015.
