IRS PLR: Extension of Time Granted to Allocate GST Exemption (IRC §2642)

The IRS has published a private letter ruling on IRC §2642 granting the taxpayer’s estate an extension of time of 120 days from the date of the letter to allocate the taxpayer’s GST exemption to a previous transfer to a trust. [PLR 202535001]

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