DEADLINE UPDATE

Estates that were below the filing threshold ($5 million for 2011, $5.12 million for 2012, and $5.25 million for 2013) MUST file Form 706 to make the portability election! The IRS is allowing late elections for any estates created after 2011 and before 2014 by December 31, 2014. After December 31, 2014, it will be too late to make the election for those estates.