![]() ![]() ![]() As for claims that are paid, a court decree would be respected if the court reviewed the relevant facts and its decision was consistent with applicable law. If that does not occur before the estate tax statute of limitations runs, the executor’s recourse is to file a protective claim for refund. In general, the proposed regulations would have allowed a deduction of otherwise deductible claims (that is, claims existing at the date of death and legally enforceable) only if and when they are paid or ascertainable with reasonable certainty. It addresses a conflict among the federal courts of appeals, with the Fifth, Tenth, and Eleventh Circuits unwilling to consider post-death events and the Eighth Circuit apparently more willing to do so. The focus of this regulation project, which first appeared in the 2003-04 Priority Guidance Plan, is the extent to which post-death events may be considered in determining the deductible amount of a claim. Pursuant to the 2008-09 Treasury-IRS Priority Guidance Plan (see Capital Letter Number 12), Treasury released those regulations in final form on October 16, just in time to be discussed at the ACTEC meeting in Williamsburg. ![]() On April 23, 2007, the Internal Revenue Service published proposed regulations under section 2053 regarding the determination of the amount of a claim against the decedent’s estate that is deductible for estate tax purposes. In Achieving Rough Justice in the Handling of Claims Against a Decedent’s Estate, the Treasury and Internal Revenue Service Generally Strive Toward Fairness and Workability.ĭear Readers Who Follow Washington Developments: ![]()
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