A bill becomes law if signed by the President or if not signed within 10 days and Congress is in session. If Congress adjourns before the 10 days and the President has not signed the bill then it does not become law (Pocket Veto.)
Losses incurred from casualties and thefts during the administration of the estate can be deducted only if they have not been claimed on the federal estate tax return (Form 706). The personal representative must file a statement with the estate's income tax return waiving the deduction for estate tax purposes.
Prudence normally requires at least six months (most often longer) to wind up a trust's affairs. If an estate tax return is required, often the period of administration can last three years (or more).The estate tax return itself isn't due until 9 months following the death of the settlor of the trust, and that time can be extended without question for another six months.The IRS has three years to audit the return unless there is a request for prompt audit (reducing that time to 18 months).Report Abuse.f an estate tax return is required, often the period of administration can last three years (or more). The estate tax return itself isn't due until 9 months following the death of the settlor of the trust, and that time can be extended without question for another six months.