Estate tax return audits can be especially bad news in Overland Park. First, the estate tax return itself must be filed within nine months following in death of the loved one who owned the assets subject to the return. Unfortunately, there is no "pause button." Enough said. Second, to make matters worse, the IRS seems to be upping pressure on estate tax returns more than any other.
With tax season dying out for most of us today (if you haven't filed for an extension), the last thing you might want to hear about are audits of any kind. Nevertheless, the fiscally-minded writers at AccountingWeb want to warn taxpayers about this apparent IRS interest in estate tax return in an article titled “IRS 2011 Audit Rates Show Estate Tax Returns under the Microscope.”
Bottom line: take this as fresh evidence to dot your “i’s” and cross your “t’s” when it comes to your own estate planning.
Remember: When making your financial, tax and estate plans, don't go it alone. Be sure to engage competent professional counsel.
Reference: Accounting Web (March 27, 2013) “IRS 2011 Audit Rates Show Estate Tax Returns under the Microscope”