BY DONALD A. HAMBURG AND DANIEL B. AXMAN
As of June 1, 2016, and without any warning, the IRS radically changed the procedure to obtain a Discharge. The new procedure is described in detail in this article.
***
If a decedent’s gross estate is below the filing threshold (currently $5.45 million), no Discharge is necessary. In those cases where a title company requires a Discharge to close an estate sale, the IRS will issue a Letter (Letter 1352) stating that no estate tax is due and the estate is not subject to a lien. The executors simply file Form 4422 in order to obtain this Letter.
***
Related articles
- Income tax audits plummet as IRS loses agents to budget cuts (wbrz.com)
- Here’s the basic problem with Trump’s plan to slash the IRS budget (businessinsider.com)
- IRS criminal cases fall by 12 percent as agents head for the exits (stripes.com)
lennyesq 