House to Begin Extension of pre-2010 Estate Tax Rates?
So says Representative Sander Levin. Ryan J. Donmoyer of BusinessWeek writes here that Congress may get to extending the Bush erea estate tax rate next month.
Excerpt from the article: Levin said the committee would begin work to retroactively reinstate a federal tax on multimillion-dollar estates that expired Dec. 31. The legislation would likely seek an extension of a 2009 law, which applied a 45 percent tax rate on the value of estates that exceeded $3.5 million per individual.
“The sooner we do it, the better,” Levin said. The lapse of the levy and a complicated capital gains tax that replaced it was making it hard for families to plan their affairs, he said.
House to Begin Extension of pre-2010 Estate Tax Rates?
