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Beth Kaufman Quoted in The Wall Street Journal, IRS Clarifies Estate Rules

October 8, 2011, The Wall Street Journal

Excerpt taken from article.

The Internal Revenue Service last week clarified a provision of the estate tax affecting people who die in 2011 and 2012.

The good news: The paperwork process is now clearer for surviving spouses. But the new rules could pose problems for some.

Some planners say the new requirement poses a problem, in that advisers usually don't file a federal return if the estate is worth less than the exemption amount. "But under these rules, even small estates have to file a return if they want to preserve any unused exemption," says Beth Kaufman, a tax attorney with Caplin & Drysdale in Washington." Not only could advisers miss the IRS's guidance and fail to file, but those estates that do file will owe professional fees for any needed appraisals (say, of a house).

Click here to read the full article on the estate tax provision.

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