Exemptions and all else as the law is now, in 2012, but with top rate going to 40 percent. What a coup for the Republicans!. Reported by JULIE PACE and BEN FELLER at Associated Press: See http://www.wvva.com/story/20471309/fiscal-cliff-disputes-remain-as-deadline-nears
On the other hand, CNN reporting no deal as of 1:01 pm eastern. See http://politicalticker.blogs.cnn.com/2012/12/31/latest-updates-final-fiscal-cliff-scramble/?hpt=hp_t1
We shall see.
Kevin Staker
Estate Tax New Blog
Is the exemption no longer inflation-adjusted? The reports seem to say that the exemption will be a static $5M.
Comment by Ben — December 31, 2012 @ 7:28 pm |
Thanks for the kind words.
Comment by kevinstaker — January 2, 2013 @ 11:53 am |
No. Take a look at the bill. Makes permanent the changes made at the end of 2010.
Comment by kevinstaker — January 2, 2013 @ 11:54 am |