SECTION 1. PURPOSE

This revenue procedure provides guidance on exhausting administrative remedies prior to seeking a declaratory judgment pursuant to section 7479 of the Internal Revenue Code. A declaratory judgment may be requested from the United States Tax Court when an executor has made an election under section 6166 to extend the time for payment of estate tax with respect to an interest in a closely held business, and the Internal Revenue Service has (1) made a determination that the election cannot be made with respect to the estate or with respect to any property included therein, (2) failed to make a determination with respect to the estate or with respect to any property included therein within 180 calendar days after the executor’s filing of the election, or (3) made a determination that the extension of time for payment under section 6166 has ceased to apply with respect to the estate or with respect to any property included therein.