IRS PLR: Qualified Terminable Interest Property Election Extension Granted (IRC §2056)

The IRS has published a private letter ruling on I.R.C. §2056(b)(7), granting 120-day extension to make a qualified terminable interest property (QTIP) election on a supplemental Form 706 for the assets passing to the Marital Trust created under the decedent’s trust. [PLR 202547012]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.