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IRS Provides Simplified Method for Extending Portability Election
Taxing Topics
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Taxing Topics
IRS Provides Simplified Method for Extending Portability Election
Aug 31, 2022
Episode 14
Withum
In July 2022, the IRS issued a simplified method for taxpayers to obtain an extension to make a portability election. This new publication, Rev. Proc. 2022-3,2022-1 IRB 144 has superseded the 2017 publication, Rev. Proc. 2017-34,2017-26 IRB 1282. As a result, eligible estates now have up to five years after the death of the deceased spouse to elect portability.
