What is the statute of limitations for amending Form 706?
And is the statute of limitations, if any, measured from the date of death, from the original due date (currently 9 months after the date of death), or from the date of first (or most recent!) filing? I am asking about a self-initiated amended Form 706, not one mandated by the IRS.
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I imagine you can amend a 706 at any time.
As with most tax returns, the statute of limitations for IRS enforcement of a 706 is generally three years from the date of the return, or the date it is due, whichever is later.
Why in the world would you want to file one if you're not required to? Stu
Yes, but would it have any legal force? (See below.)
Because Form 706 was not filled out correctly initially, so our estate attorney believes the Decedent's Trust might not be recognized by the IRS and the assets might be added to the survivor's estate at the time of her death. He is recommending that we file a supplemental Form 706 with the omitted information. However, two CPAs believe a supplemental Form 706 is (a) unnecessary and (b) o now useless that the statute of limitations has expired. It is long past 3 years since the date of filing, which was after the due date. Of course, I am not seeking overriding advice from this forum. I just wanted some confirmation of the statute of limitations. I thought it might be longer; 7 years sticks in my mind for some reason. Can someone point me to where the applicable statute of limitations is articulated? I was unable to find it in the instructions and Pubs related to Form 706. A citation to the USC or CFR would be fine.
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