California Estate Planning Blog by Kevin Staker

December 9, 2010

Will the Tax Provisions Make Retroactive Changes to 2010 re Estates? Also, Looks Like Passage Unchanged Is Fairly Certain

Filed under: estate tax,estate tax news,Kevin Staker — Kevin Staker @ 8:45 am
Tags: , ,

Found another cryptic reference to retroactive changes re 2010 regarding decedent’s estates at Bloomberg.com:

A congressional staff member helping draft the legislation said the agreement would give people who died in 2010 a choice of tax treatment for the year: the 35 percent estate tax or a replacement capital-gains tax.

Not positive on why they are saying.  I guess might be to give estates the option of no estate tax but limited step up in income tax basis or $5M exemption with 35 percent rate but unlimited step up in income tax basis.

Also, looking pretty certain the votes will be there to pass in both Senate and House despite all the arm waving.  (See the same Bloomberg article.)

By Kevin Staker

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