IRS Asks About Fixing a Missed Reverse QTIP Tax Election
Published Date: 11/10/2026
Notice
Summary
The IRS wants your thoughts on a simpler way to fix late tax elections called the Reverse QTIP election. This affects taxpayers who missed a deadline but want to correct it without hassle. Comments are due by January 11, 2027, so don’t miss your chance to help shape this process and possibly save time and money!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Simplified late Reverse QTIP process
Revenue Procedure 2004-47 provides a simplified alternate procedure (in lieu of requesting a letter ruling) for certain executors of estates and trustees of trusts to request relief to make a late reverse qualified terminable interest property (QTIP) election under section 2652 of the Internal Revenue Code.
Paperwork burden for executors/trustees
The IRS estimates the affected public is "Individuals and households" and that the collection will produce 6 responses, each taking an estimated 9 hours per response, for an estimated total annual burden of 54 hours.
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Key Dates
Department and Agencies
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