Initial Filings for Forms 8971 Now Pushed Back to June 30, 2016 as IRS Grants Additional Delay
The initial due date for filing Forms 8971 has been pushed back for the third (and likely final) time by the IRS in Notice 2016-27. The notice provides that both the statements to be furnished to the IRS (Forms 8971 and the Schedule As) and those to be provided to the beneficiaries (Schedule A) that are due prior to June 30, 2016 need not be provided to the IRS or the beneficiaries prior to that date.
The form is required to be filed by executors of estates who are required to file a return (as that term is defined in the proposed regulations issued in early March of 2016) if that return is filed after July 31, 2015. The return is due 30 days after the earlier of the date the Form 706 is filed or when it was required to be filed (including extensions actually granted). [IRC §6035 as added by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015]
Read More