12.05.09
Estate Tax Update
According to the PBS News Hour last night, the House has passed the bill freezing the estate and gift tax at 2009 levels, which means a continued $3.5 million exemption. Whether the Senate acts, who knows. They’re bogged down with health care right now.
If nothing gets passed, there is no estate tax next year then the exemption drops to $1 million in 2011.
