Daily Tax Update - January 6, 2017: IRS Issues Guidance on Closing of Estate Examinations

IRS Issues Guidance on Closing of Estate Examinations:  Today, the Treasury Department and the IRS issued Notice 2017-12 describing the process by which taxpayers can determine whether an estate is closed for tax purposes.  The IRS discontinued automatically sending closing letters for estate returns as of June 1, 2015.  The notice states that an account transcript issued by the IRS can substitute for an estate closing letter to use for confirmation that the examination is closed.  Estates may request an account transcript by filing Form 4506-T, Request for Transcript of Tax Return.