California Estate Planning Blog by Kevin Staker

December 28, 2012

Update: Movement in Congress Appears to Be In Favor of Extension of Present Estate Tax Law

Extending the present exemptions for the estate and related taxes seems to be the current trend in Congress.  Justin Sink at the Hill reports the following:

Some Republicans have suggested a compromise might be found in allowing Bush-era tax rates to rise only on annual incomes above $400,000. Talk of a “mini-plan” that would include an extension of current tax rates under $400,000 along with an extension of the current estate tax rate swept through the Capitol on Friday.

The article is at http://thehill.com/homenews/news/274799-congrssional-leaders-arrive-at-white-house-for-cliff-talks

On the other hand, it is appearing likely I was wrong in predicting they would pass the Middle Class Tax Cut Act at the last minute.  However, we are not at the last minute yet so

We shall see.

Kevin Staker

Estate Tax News Blog

 

 

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