Question

Which of the following statements regarding extensions for estate tax returns is correct? A. For an estate return, an extension also extends the time to pay any tax due. B. The IRS does not grant any discretionary filing extensions on estate C. The IRS will grant an automatic 6-month extension to file. O D. The IRS will not extend the filing deadline on an estate tax return.

Answer 1

Answer - C. the IRS will grant an automatic 6- month extension to file.

• At Internal Revenue Service, the form 4768 under section 6018, regarding application for extension of time to return or pay tax is made. So D is incorrect.
• The US estate will allow automatic extension for 6 months to file form 706 - 'United States Estate Tax Return'. So C is correct and B is incorrect.
• for any person in abroad, they provide any extension of period greater than 6 months.
• the 4768 form must be submitted in such a way, it should provide sufficient time for IRS to review the matter regarding taxes.
• before the extension period, the form must be completely filled as far as possible.
• after the expiration of the extension pperiod, the amendement of return is not possible.
• the extension given for filing the return will not help in extending the tax payment. so A is incorrect.