TAXBILLY

The auditor was very pleasant because he/she is trained to be. You'll know how successful you were when you get the auditor's report. It may include penalties, such as understatement of income, which can be quite costly so please let us know before advising your client. There are ways to abate penalties and it's not a good idea to automatically agree with everything the auditor decides. taxbilly

Evidently a common problem. Maybe some of these can help: http://www.dogpile.com/dogpile/ws/results/...=7?_IceUrl=true taxbilly

Unfortunately Deb's audit is today so we are probably too late to give advice. taxbilly

May you have many more! taxbilly

May you have many more! taxbilly

Decedent's broker should be able to provide that info. taxbilly

May you have many more! taxbilly

May you have many more! taxbilly

The IRS is coming ... http://www.irs.gov/newsroom/article/0,,id=211399,00.html taxbilly

May you have many more! taxbilly

Hpefully they can make that appraisal official and avoid the 706. taxbilly

Here is a copy of the draft form 706: http://www.irs.gov/pub/irs-dft/f706--dft.pdf Form 56 has been out since May so your software should have it. Form 4768 is available and if an extension of time to file taxes due is requested it must be approved which takes time. ed_ accountant's suggestion to have someone else review it is a good one. Even though I've been doing taxes for over 40 years I always have a colleague review the 706 because none of us, unless we specialize, do enough of them to know everything and a mistake can cost you as well as the client. taxbilly

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May you have many more! taxbilly

This might help with your questions: http://www.suite101.com/article.cfm/estate_planning/51372 I assume you've done all of the preliminary work already ... inventory from the estate attorney showing the estate value exceeds 3.5 million, filing of notice 56 with the IRS and you have decided whether to ask for an extension since you must be close to the 9 month deadline. taxbilly

Use the latest current addresses. taxbilly

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Do I ever sleep? Well, I'll be 65 August 15th and have the problem most of us male seniors do and I figure while I'm up I'ld do something constructive. :~) taxbilly

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Aha! I can see clearly now! taxbilly

Thanx Wayne. taxbilly

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May you have many more! taxbilly

May you have many more! taxbilly

Thanx for the info Annie. taxbilly