Author(s): Constance D. Smith
Published: 01/08/2010 Due to the priorities of Congress last year, there are currently no federal estate or generation skipping transfer (GST) taxes. This situation could last for a few months or this entire year. Congress could even pass a law that is retroactively effective to extend the 2009 estate tax laws without a gap, which would likely be challenged. If Congress should fail to act for all of 2010, the existing law will reinstate an estate tax in 2011 with a federal tax rate of 55% and a $1 million exemption amount instead of the $3.5 million exemption available in 2009. A separate Colorado estate tax could also return in 2011. Readmore: http://www.rothgerber.com/showarticle.aspx?Show=1278&Email=kkaminski@rothgerber.com&mailingId=17417 |
