IRS: A Substitute is OK for an Estate Tax Closing Letter


IRS: A substitute is OK for an estate tax closing letter. IRS Notice 2017-12 states that an IRS-issued account transcript can substitute for an estate tax closing letter. Account transcripts reflect transactions including the acceptance of Form 706 and the completion of an examination. An estate tax closing letter (IRS Letter 627) is a written communication from the IRS that includes the amount of the net estate tax, the state death tax credit or deduction, and any generation-skipping transfer tax for which the estate is liable.