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WSJ Quotes Beth Shapiro Kaufman: Many Estate-Tax Payers Just Got a Reprieve from the IRS

June 9, 2017, The Wall Street Journal

The estates of many recently deceased American taxpayers will now more easily obtain a crucial tax benefit thanks to an Internal Revenue Service decision.

Revenue Procedure 2017-34, which takes effect immediately, gives the estates of many people who died in 2011 and after until at least Jan. 2, 2018 to make a “portability” election. This provision allows a surviving spouse to receive the unused portion of the partner’s federal estate-tax exemption—a move that can shelter millions extra in assets from tax.

. . .

“It’s a welcome announcement that benefits both estates and the IRS, freeing the agency to use resources on other issues,” says Beth Shapiro Kaufman, an attorney with Caplin & Drysdale in Washington.

For the full article, please visit The Wall Street Journal's website.

Excerpt taken from the article “Many Estate-Tax Payers Just Got a Reprieve from the IRS” by Laura Saunders for The Wall Street Journal.

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Having celebrated our 50th Anniversary in 2014, Caplin & Drysdale continues to be a leading provider of tax, tax controversy, and litigation legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

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