Ezel / IRS Rulings / 201216037

CCA 201216037: Advice addresses late relief for an alternate-valuation election

Number
201216037
Outcome
Advice
Document type
Chief Counsel Advice
IRS subject
Alternate Valuation; Extension of Time for Making Certain Elections
Topics
Estate tax Late election relief (§ 9100)
Code sections
§ 2032, § 9100
Ruling dated
March 28, 2012
Publicly released
April 20, 2012
Source
View Official PDF

Apply this to your situation

This page covers legal advice the IRS Office of Chief Counsel wrote for IRS staff, issued in 2012, which can't be cited as precedent. Ask about your situation and see what the current Code and IRS guidance say, with citations.

Currency note: this determination was released in 2012
Statutory amendments, regulation changes, court decisions, or later IRS guidance may have changed the analysis since then. Treat this page as historical context, not current tax advice. Verify current law before relying on any specific rule, threshold, or position mentioned here.
Not precedent. Under 26 U.S.C. § 6110(k)(3), this written determination may not be used or cited as precedent. It is advice from the IRS Office of Chief Counsel to IRS personnel on the facts they presented, and identifying details were redacted by the IRS before release. The official IRS release (linked on this page as a PDF) is the authoritative source.
About this page: The plain-English summary and ruling snapshot below were written by Ezel based on the official IRS release. The full text is the IRS's own document.
View official IRS release (PDF)

Plain-English summary

Chief Counsel advice addresses whether a taxpayer may seek relief to make an IRC § 2032 alternate-valuation election more than one year after the return's due date. The advice says relief may be available because Form 706 was filed within one year after the due date. It also directs that the request under Treas. Reg. § 301.9100 should be made through a private letter ruling request, not a technical advice memorandum, and cites Rev. Proc. 2012-2.

Ruling snapshot

  • Question: Can a taxpayer seek relief to make a § 2032 election more than one year after the estate-tax return's due date, and what request vehicle should be used?
  • Outcome: Advice
  • Key authorities: IRC § 2032; Treas. Reg. § 301.9100; Rev. Proc. 2012-2, section 4.04; PLR 201118013.

Full text (IRS public release)

ID: CCA_2012032816094565 Number: 201216037
Release Date: 4/20/2012
Office: ----------------
UILC: 2032.00-00, 9100.00-00

From: ---------------------
Sent: Wednesday, March 28, 2012 4:09:48 PM
To: -----------------------
Cc:
Subject: RE: A different question

I would say that in this case, the Form 706 was filed within one year of the due date of the return. That being the case, the TP can seek relief to make the 2032 election, even more than 1 year after the due date of the return.

See also PLR 201118013.

The request for relief under 301.9100 should be made by the taxpayer as a private letter ruling, not as a TAM. See Rev. Proc. 2012-2 section 4.04.

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