Nobody wants to hear from theIRS â€¦and I mean nobody. Typically theIRS would only contact you for an audit, which is never good news. But auditsare not just for your income tax returns either â€“ they also apply to estate taxreturns.
Estate tax return audits can beespecially bad news. First, the estate tax return itself must be filed withinnine months following the death of the loved one who owned the assets subjectto the return. Second, to make matters worse, the IRS seems to be uppingpressure on estate tax returns more than any other.
With tax season dying out formost of us (if you havenâ€™t filed for an extension), the last thing you mightwant to hear about are audits of any kind. Nevertheless, the fiscally-mindedwriters at AccountingWeb want to warntaxpayers about this apparent IRS interest in estate tax returns in an articletitled â€œIRS 2011 Audit Rates Show Estate Tax Returnsunder the Microscope.â€
Bottom line: take this as fresh evidence to cross yourâ€œtâ€™sâ€ and dot your â€œiâ€™sâ€ when it comes to your own estate plan. At IdahoEstate Planning
we are the expertsyou need to know and trust. Work with us and we'll put together a plan thatworks for you and your loved ones. Remember, goodplanning is no accident