Estate taxes set to expire in 2010

Posted on Dec 19, 2009

Congress' failure to pass a new estate tax law means decedents who die in 2010 won't owe any estate taxes no matter how large their estate.  The current estate tax law calls for the repeal of the estate tax in 2010 and its return in 2011.  Congress spent most of this year making various proposals to extend the current law but none of them passed.  It now appears no new estate tax law will be passed this year.

Congress almost surely will pass a new estate tax law in 2010.  As the article in the link above mentions, Congress will probably make whatever estate law is passed retroactive to the beginning of 2010.

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