The IRS announced that the estates of persons who died in 2010 will have until January 17, 2012 (changed from November 15, 2011) to file various required returns and pay any estate taxes due.
The IRS also announced penalty relief for certain beneficiaries of these estates on their 2010 federal income tax returns.
This relief is designed to give large estates (over $5 million) more time to comply with key tax law changes enacted late last year.
Revised versions of the estate tax forms are now available on IRS.gov, and the carryover basis form will be released this fall.
IR-2011-76 contains additional details.
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