No Estate Taxes? You Might Just Want to Hold Your Breath

In 2001, a progressive Federal Estate Tax became law of the land. The Economic Growth and Tax Relief Reconciliation Act (EGTRRA) would change the tax rate and annually increase the size of estate value minimums before estate taxes were applied.
It included what is known as the ‘sunset’ provision which the current rules expire at the end of 2010 and would revert back to pre-EGTRRA law. In the year 2010 there would be no Federal Estate Taxes (in 2009 the exemption before estate taxes were applied was $3.5 million per person with a maximum 45% tax rate).
So here we are in 2010 and (at least for now) there is no Federal Estate Tax for any one dying this year (individual State tax rates would still apply).....

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