California Estate Planning Blog by Kevin Staker

September 27, 2010

Congress Will Delay Addressing the Estate Tax Until After Election

Filed under: estate tax,Kevin Staker — Kevin Staker @ 11:38 pm
Tags: ,

Multiple sources confirm as a certainty what we suspected on Friday:  Congress will not address the income tax cuts, as well as the estate tax mess, before the mid-term election.  Hence, we will need to wait until the “lame duck session” after the election for a resolution.  Even then it is not clear if they can pass a tax act.   I now go back to my prior prediction that we stand a 50-50 chance of Congress doing nothing on income taxes as well as estate taxes.  Hence, we may end up in 2011 with the same result we have seen in 2010: Congress doing nothing and so changes in the law happening (a $1,00,000 estate tax exemption for example) without anyone doing anything.  What a mess!

By Kevin Staker

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