IRS Finalizes Rules Lowering Estate Tax Closing Letter Fees (1)

The IRS finalized rules that reduce the user fee for those requesting estate tax closing letters to $56 from $67.

These final rules (RIN 1545-BR22, 1545-BR28) adopt the the previous interim final rules and proposed rules without changes.

An estate tax closing letter or IRS Letter 627 is a written communication that the IRS has accepted an estate tax return. It can include details on the net estate tax, the state tax credit, and any generation-skipping transfer tax.

• Executors want an estate tax closing letter before finishing the administration of an estate to avoid personal liability for any ...