Estate Tax not Included with Extenders

The estate tax isn’t the only tax provision expiring on Dec. 31. Due to congressional inaction 50 tax provisions will expire. Including the annual AMT patch, the deduction for state and local sales taxes, the $4,000 deduction for college tuition, a provision...

2010 Buzz: Retroactive Extension

Will congress act to restore the estate tax for next year? If Representative Hoyer and Senator Baucus have their way, the answer is yes. “I have every confidence it will be fixed early next year,” said Rep. Earl Pomeroy. Really. Where does this confidence...

Senate Extension of Estate Tax Blocked

A lot can happen in the other Washington before breakfast in Seattle. My breakfast reading this morning included reports that Senate Finance Committee Chairman Max Baucus of Montana was working to include a 2 month extension of the current estate tax. I reported...

They Said it Couldn’t Happen

Rep.Earl Pomeroy says that efforts to get an estate tax fix in this year have failed and that repeal is likely. This follows the Dec. 3rd vote by the house to extend the current estate tax exemptions and rates indefinitely. The Senate has failed to take up that...

2009 Year End Planning Letter

Dear Clients: President Obama has begun to address the economy, the budget deficit, healthcare, taxes, and many other challenging issues, among them the uncertainty in the federal estate tax law. For 2009, the estate tax exclusion amount is at a historic high of $3.5...