Federal Estate Tax Repealed For 2010; Future Of Federal Transfer Tax System Uncertain


Although we have awaited legislation clarifying the future of the federal estate and gift tax system for the year 2010 and thereafter, Congress has yet to take any action. As a result, for a one-year period beginning January 1, 2010, the federal estate and generation skipping transfer (GST) taxes are repealed, to be reinstated in 2011 under the pre-2001 rules. The following table summarizes the rules in effect for 2010 and 2011....

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