Delta Farm Press
Believe it or not, the Internal Revenue Service occasionally makes rules that help taxpayers. Such was the case on July 8, when the IRS issued a revenue procedure that allows estates to elect “portability” of a deceased spousal unused exclusion amount (DSUEA) up to five years after the decedent’s date of death.
If you lost a spouse within the last five years and you act within that five-year window, this could provide a tremendous federal estate tax savings for your heirs.