Adams & Edens, P.A. | Mississippi Probation Litigation Law Blog » Estate Tax http://www.mississippiprobateblog.com Mississippi Probation Litigation Law Blog Thu, 08 Jul 2010 14:41:36 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Estate Tax: Will They or Won’t They? http://www.mississippiprobateblog.com/2009/12/16/estate-tax-will-they-or-wont-they/ http://www.mississippiprobateblog.com/2009/12/16/estate-tax-will-they-or-wont-they/#comments Wed, 16 Dec 2009 15:32:18 +0000 admin http://www.mississippiprobateblog.com/?p=55 Estate planners across the country are keeping an eye on Capitol Hill, where Congress is debating the future of the estate tax. The current estate tax exempts the first $3.5 million of assets from estate tax liability. In 2010 the estate tax will disappear completely, but if no action is taken the tax returns with a vengeance in 2011 at the much lower exemption rate of $1 million.

The current bet is that the 2009 rate with be extended at least for a year. Many in Congress would like to see the 2009 rate of $3.5 million per individual or $7 million per couple made permanent. A vocal group of Republicans would like to see the estate tax permanently repealed, but given their current minority status, that is unlikely. Here’s the latest from Bloomberg.com.

Th estate tax situation is obviously still developing, so stay tuned.

]]> http://www.mississippiprobateblog.com/2009/12/16/estate-tax-will-they-or-wont-they/feed/ 0