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How long do we have to amend Form 706?

 
 
nomail1983@hotmail.com
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      03-21-2007, 05:46 PM
What is the statute of limitations for amending Form 706?

And is the statute of limitations, if any, measured from the
date of death, from the original due date (currently 9
months after the date of death), or from the date of first
(or most recent!) filing?

I am asking about a self-initiated amended Form 706, not one
mandated by the IRS.

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Stuart A. Bronstein
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      03-23-2007, 10:31 AM
"(E-Mail Removed)" <(E-Mail Removed)> wrote:

> What is the statute of limitations for amending Form 706?


I imagine you can amend a 706 at any time.

> And is the statute of limitations, if any, measured from the
> date of death, from the original due date (currently 9
> months after the date of death), or from the date of first
> (or most recent!) filing?


As with most tax returns, the statute of limitations for IRS
enforcement of a 706 is generally three years from the date
of the return, or the date it is due, whichever is later.

> I am asking about a self-initiated amended Form 706, not one
> mandated by the IRS.


Why in the world would you want to file one if you're not
required to?

Stu

<< ================================================== ===== >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
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nomail1983@hotmail.com
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      03-25-2007, 04:07 PM
"Stuart A. Bronstein" <(E-Mail Removed)> wrote:
> "(E-Mail Removed)" <(E-Mail Removed)> wrote:
>> What is the statute of limitations for amending Form 706?


> I imagine you can amend a 706 at any time.


Yes, but would it have any legal force? (See below.)

>> I am asking about a self-initiated amended Form 706, not one
>> mandated by the IRS.


> Why in the world would you want to file one if you're not required to?


Because Form 706 was not filled out correctly initially, so
our estate attorney believes the Decedent's Trust might not
be recognized by the IRS and the assets might be added to
the survivor's estate at the time of her death. He is
recommending that we file a supplemental Form 706 with the
omitted information.

However, two CPAs believe a supplemental Form 706 is (a)
unnecessary and (b) o now useless that the statute of
limitations has expired. It is long past 3 years since the
date of filing, which was after the due date.

Of course, I am not seeking overriding advice from this
forum. I just wanted some confirmation of the statute of
limitations. I thought it might be longer; 7 years sticks
in my mind for some reason.

Can someone point me to where the applicable statute of
limitations is articulated?

I was unable to find it in the instructions and Pubs related
to Form 706. A citation to the USC or CFR would be fine.

<< ================================================== ===== >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
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