December 31, 2014, is the deadline for portability for small estates of pre-2014 decedents. Estates of decedents who died before January 1, 2014, that fall below the dollar threshold for having to file an estate tax return, and that want to elect to take the estate tax portability exclusion, can get an automatic extension of time to make that election. In order to take advantage of Revenue Procedure 2014-18, the estate must file the estate tax return by December 31, 2014.

If you would like to contact a Somerset professional regarding this topic, contact us at , or call us at 317.472.2200 (toll free: 800.469.7206).