May 6, 2010
The Estate Tax Is Gone (For Now)
As most people know by now, the federal estate tax was repealed as of January 1, 2010. This actually was part of the much acclaimed “death tax” repeal enacted in 2001, but most tax experts never thought the repeal would make its way into law. They said the deficit is too great, the budget has to be balanced, tax revenues are needed to pay for TARP, etc. Congress had tried on several occasions to pass some sort of compromise bill, yet it never happened. What a surprise; politics got in the way of effective governing. Yet that’s a topic for another day.
Read More