The Internal Revenue Code grants spouses several tax benefits both during life and at death. Portability represents one of those benefits. Portability allows the surviving spouse to use the unused portion of the Applicable Exclusion Amount from their predeceased spouse. In Revenue Procedure 2022-32, the Internal Revenue Service extended the time during which a surviving spouse may elect portability without a Private Letter Ruling from two years to five years. Read on to learn more.
Parman & Easterday is an estate planning law firm in Oklahoma City and Tulsa, Oklahoma.We focus on providing peace of mind for our clients through effective and thoughtful estate planning.
Latest posts by Courtesy of Parman and Easterday (see all)
- Gen X – This One’s for You (Really Every Generation Should Read This) - September 20, 2023
- What We Can All Learn from Diller v. Richardson – Part II - September 13, 2023
- What We Can All Learn from Diller v. Richardson - September 6, 2023
