Contingent Claims and Expenses – Final Regulations Under IRC Sec. 2053

(TEdec Times, Summer 2010)

The IRS has issued final regulations under IRC Sec. 2053, T.C. 9468, 74 Fed. Reg. 53652 (Oct. 20, 2009), identifying requirements for a valid contingent claim or expense against the estate. This outline is intended to be a brief capsule view only. However, note the de minimus exception ($500,000 in the aggregate) under 20.2053-4(c), which may make much of the regulations insignificant to many estates.

ContingentClaimsAndExpenses.PDF