The AICPA has submitted comments to Treasury and the IRS requesting a waiver of 2026 estimated tax penalties for estates and non-grantor trusts due to the uncertainty about application of the section 68 limitation on itemized deductions to estates and trusts, including significant unresolved questions about the limitation’s interaction with Subchapter J, the income distribution deduction, the section 642(c) charitable deduction, and administration expenses.
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AICPA Comment Letter for Waiver of Penalties for Estates and Trusts Impacted by Limitation under Section 68
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Download the AICPA Comment Letter for Waiver of Penalties for Estates and Trusts Impacted by Limitation under Section 68
File name: AICPA Request for ES Penalty Relief for Section 68.pdf
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