02/21/2022
IRS Announces Inflation Adjusted Figures
On November 29, 2021, the IRS issued Revenue Procedure 2021-45, providing inflation-adjustments for various provisions of the Internal Revenue Code. …
The IRS recently announced that effective February 11, 2022, it will no longer keep estate tax returns for 75 years but instead will do so only for 40 years. (See New Estate Tax Return Retention Period). To request a copy of an estate tax return, file IRS Form 4506 and submit the decedent’s full name, address, Social Security Number, and death certificate. The requester must also submit either IRS Form 56 or a certificate of qualification of the executor or administrator of the estate.