Estate Tax

Estate Tax Foe added to “Super Committee”

Posted on: November 30th, 2011
Arizona Senator Jon Kyl will join the bipartisan Congressional super committee, which has the task of cutting $1.5 trillion from the federal budget in the next decade. Kyl is a staunch opponent of the estate tax, and his appointment to the committee makes any movement toward a decrease in the current $5 million exemption or increase in the 35% rate unlikely. Democrats have called for the rate to increase to 45%....

Death Taxes – Worst States to Die In

Posted on: November 17th, 2011
Here are the states with an estate and or inheritance tax, ranked from approximate highest to lowest tax burden (North Carolina has the distinction of being the best of the worst):...

IRS Provides Guidance for Protective Claim for Estate Tax Refund

Posted on: October 14th, 2011
The IRS has just issued Revenue Procedure 2011-48, which provides guidance regarding the filing and subsequent resolution of a protective claim for refund of estate tax that is based on a deduction for a claim or expense under section 2053 of the Internal Revenue Code....

More on the 2011 Federal Estate Tax Return

Posted on: September 30th, 2011
The IRS has released the final instructions for the 2011 United States Estate (and Generation-Skipping Transfer Tax Return (Form 706), and Guidance on Electing Portability of Deceased Spousal Exclusion Amount (Notice 2011-82)....

IRS Releases 2011 Estate Tax Return

Posted on: September 23rd, 2011
The IRS has now issued the U.S. Estate and Generation-Skipping Transfer Tax Return (Form 706) and draft instructions for decedents dying in 2011....

IRS Offers Filing and Penalty Relief for 2010 Estates

Posted on: September 13th, 2011
IR-2011-91 (emphasis added): WASHINGTON — The Internal Revenue Service announced today that large estates of people who died in 2010 will have until early next year to file various required returns and pay any estate taxes due. ...
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