One more extension for estate
executors
A law passed last summer added
a new task for estate executors and others who file estate tax returns after
July 31, 2015: providing a statement of the value of estate assets to
beneficiaries and the IRS. The statement is designed to ensure consistency between
the value of the property for estate tax purposes and the basis a beneficiary
reports for income taxes. The information is filed on Form 8971, Information
Regarding Beneficiaries Acquiring Property From a Decedent. If you're required
to complete Form 8971 before March 31, 2016, you do not need to do so until March
31, 2016. (The original due date was February 29, 2016.)
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