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What is an estate tax closing letter?

| Jan 13, 2018 | Estate Planning And Probate

Various questions could be on your mind if you are the executor of an estate, or if you are in the early stages of planning your own estate. For example, you could be wondering how to distribute assets appropriately or which beneficiaries to include in your estate plan. However, estate matters can be particularly difficult for some executors who may not have much experience with these issues and a number of questions may arise. For example, you may be wondering what an estate tax closing letter is or how to obtain this document. Across New York City, people with these types of concerns should not hesitate to reach out for answers.

After the Internal Revenue Service reviews and accepts a federal estate tax return, an estate tax closing letter may be issued. However, these form letters are only issued upon the request of a taxpayer or their representative, according to material published by the Internal Revenue Service. In order to obtain an estate tax closing letter, you will have to satisfy different requirements. For example, you will have to give the IRS the Letters Testamentary if you are an executor who is requesting a closing letter via fax. A requestor will also have to give the IRS his or her name and address, as well as the social security number and name of the decedent. Moreover, the date the decedent passed away must be provided.

This write-up is to be viewed for informational purposes and does not replace legal advice in any way.

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