The Bloomberg BNA Estate Tax Blog is a forum for practitioners and Bloomberg BNA editors to share ideas, raise issues, and network with colleagues. The ideas presented here are those of individuals and Bloomberg BNA bears no responsibility for the appropriateness or accuracy of the communications between group members.
Friday, June 3, 2011
Late on December 9, Senate Finance Committee Chairman Baucus (D-Mont.) unveiled legislative language for the estate tax compromise reached by congressional Republicans and President Obama. As reported by BNA's Daily Tax Report, the bill includes the anticipated $5.0 million estate tax exclusion and a 35% tax rate, as well as a number of other eagerly-awaited details:
It is expected that Democratic Senators will seek to amend the bill to either increase the estate tax rate or to reduce the exemption. Such efforts will probably be unsuccessful. A vote is expected on December 11 and, if successful, the bill will then move to the House, where its prospects are more uncertain.
Harold W. Pskowski, Managing Editor for Estates, Gifts and Trusts
You must Sign In or Register to post a comment.
Portability Regulations Offer Simplification and Clarification, Not a Short Form 706
A Trap for the Unwary ... Extended Filing Deadlines for Estate Taxes
Valuing Facade Easement Could Be More Trouble Than Its Worth ....
No Matter How You Slice (or Demolish) It, Taxpayers Denied Charitable Contribution Deduction for Donations of Homes to Local Fire Departments
Bloomberg BNA Tax Policy Summit: Post-Election Answers to “What Now”