Topics of Interest
The Federal Estate Tax Exemption Rises
The general professional consensus is that legislation will soon be enacted to stay the Federal Estate Tax at $3.5 million. First, the Federal Estate Tax is a clear revenue-raising devise for a depressed Federal budget. Second, according to Congress’ Joint Committee on Taxation, the current estate tax will affect around 9,600 estates this year (approximately 0.39 percent of all deaths), raising more than $20 billion1.
1 Forman, John. Forman: The Death Tax Lives, 1.19.09 http://www.journalrecord.com/article.cfm?recid=95246
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