California Estate Planning Blog by Kevin Staker

June 30, 2010

“Conventional Wisdom” Thinks 2009 Rules Will Be Reinstated for 2011

Filed under: estate tax,Kevin Staker — Kevin Staker @ 9:02 pm
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In an article at the Hill, Jay Heflin focuses on Senate Majority Leader Harry Reid criticizing the Republicans not letting any legislation of consequence go forward.  He states this then prevents the Senate from addressing the “Bush tax cuts”.  This includes the estate tax.

The article states that those in the know think:

Democrats back the extension of tax cuts benefiting the middle class, as well as protecting them from the alternative minimum tax. They would also like to keep the estate tax from reverting back to pre-2001 levels, when estates worth roughly $1.2 million were slapped with a 55 percent tax.  [Emphasis added.]

By Kevin Staker

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