What Advisors Need to Know About Portability, Including Rev Proc 2017-34


November 18, 2021


Robert S. Keebler, CPA/PFS, MST, AEP

  2:00 PM ET | 1:00 PM CT | 11:00 AM PT | 120 Minutes

* Not able to attend the live session? We can arrange an on-demand session for You. Please call 1-951-801-2324


For purposes of Federal Estate and Gift Taxes, a Portability Election allows a DSUE ("deceased spousal unused exclusion") amount to become available for application to the surviving spouse's subsequent transfers during life or at death. The IRS has issued numerous private letter rulings granting an extension of time to elect Portability when the decedent's estate was not required to file an estate tax return.

On June 9th, the IRS issued Revenue Procedure 2017-34 which describes the "simplified procedures" for estates requesting an extension of time to make a Portability Election. The new simplified method can be used instead of the letter ruling process, and best of all, no user fees are required for submissions filed in accordance with the Revenue Procedure.

There' no better time than the present for advisors to refresh their understanding of the Portability Election and the new simplified procedures. To do that, be sure to join Bob Keebler in his 60 minute LISI webinar titled "What Advisors Need to Know About Portability, Including Rev Proc 2017-34."

Session Highlights:

  • Understanding the relief provided in Rev Proc 2017-34 and why this procedure is welcome.
  • Who cannot use the new procedure.
  • The two year portability rule.
  • Obtaining estate tax refunds after portability filings.
  • The mathematics of portability in depth.
  • Portability for large and small IRAs.
  • Portability in second marriages and premarital agreements.
  • Using portability for income tax planning.

Who Will Benefit:

  • Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Attorneys
  • Financial Planners
  • Other Tax Preparers

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