Posts Tagged ‘ hermosa beach estate planning ’

Special Tax Election Now Available for Spouses Under Revenue Procedure 2016-49

by Lilian H. Walden Esq.

Effective September 27, 2016, the IRS will now permit a special tax election for surviving spouses (known as a QTIP election).  This will apply even  when it is not necessary to reduce the estate tax liability to zero upon the death of the first spouse, pursuant to Revenue Procedure 2016-49.  Prior to this point, there was some uncertainty over whether or not with the new portability rules, a QTIP election…

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