House to Begin Extension of pre-2010 Estate Tax Rates?

Posted by admin | Estate Planning Basics, Estate Tax, Trusts, Uncategorized | Thursday 18 March 2010 8:43 pm

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.

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House to Begin Extension of pre-2010 Estate Tax Rates?

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