IRS delays estate basis reporting deadline
The Internal Revenue Service has again delayed the deadline for reporting the basis of property distributed from the estate of a decedent until March 31.
Notice 2016-19 provides that statements required under section 6035 of the tax code, regarding the basis of property distributed from the estate of a decedent, need not be filed or furnished until March 31, 2016, rather than the current deadline of February 29.
The notice also recommends that executors and other persons who are required to file an estate tax return wait to prepare the statements required under section 6035 until the Treasury Department and IRS issue further guidance.