Friday, June 25, 2010

Update on the Estate Tax from the Tax Policy Blog

This is the latest on the estate tax from the Tax Foundation's Tax Policy Blog. The Obama proposal, included in the FY 2011 budget essentially makes the 2009 law permanent. This sets a top tax rate of 45% with a $3.5 million exemption for individuals and twice that for couples. There are also other proposals to establish top rates as high as 65% for some estates. Click the link below to read the article.

Harkin, Whitehouse and Sanders Are Pushing an Estate Tax Proposal That Might Be Called the Die Abroad Act