This document contains final regulations that provide transition rules providing that executors and other persons required to file or furnish a statement under section 6035 (a)(1) or (2) regarding the value of property included in a decedent's gross estate for federal
estate tax purposes before June 30, 2016, need not have done so until June 30, 2016.
Not exact matches
If you die
before the end of the period, the house will be includible in your
estate for
estate tax purposes.
3 If you make the five - year election to prorate a lump - sum contribution that exceeds the annual federal gift
tax exclusion amount and you die
before the end of the five - year period, the amounts allocated to the years after your death will be included in your gross
estate for
tax purposes.
However, this approach requires filing a gift
tax return and, if the contributor dies
before the end of the five - year period, the portion of the contribution allocable to the remaining years in the five - year period will be included in the contributor's gross
estate for federal
estate tax purposes.
If you transfer the policy to the trust less than three years
before your death, it will be considered part of your
estate for
tax purposes, and your heirs still could wind up paying
estate taxes on it.