The Associated Press reports that former New York Yankees owner George Steinbrenner picked a good time to die:
Born on the Fourth of July, George Steinbrenner left the world stage with a great sense of timing too.
By dying in 2010, the billionaire and long-time New York Yankees owner’s wealth avoids the federal estate tax, likely saving his heirs [...]
Tags: Estate Tax
Who would have ever predicted that Dr. Kevorkian (pictured) would become an estate tax planner?
Everyone knows that no estate tax will be levied on the estates of people who die in 2010, but unless Congress acts this year, the estate tax will return with a vengeance on January 1, 2011.
This has created an ugly planning scenario for terminally ill [...]
Tags: Estate Tax
From The Washington Post:
The House voted Thursday to permanently extend a 45% inheritance tax on estates larger than $3.5 million, canceling a one-year repeal of the tax set to begin next month.
A similar effort is afoot in the Senate, but the health care debate there could preclude action on the estate tax before Congress breaks [...]
Tags: Estate Tax
Howard Gleckman of TaxVox wrote a blog post last week titled Throw Momma from the Train and said this:
There may be no provision in tax law more bizarre than the estate tax. In just a year and a few days, on Jan. 1, 2010, the levy will expire and estates of any size will be passed [...]
Tags: Estate Tax · Tax Humor · Tax Policy
Jim Abrams of The Washington Post reports that the tax policy advocacy group, Citizens for Tax Justice (CTJ), oppose President-elect Obama’s plan to cut (but not eliminate) the estate tax:
President-elect Barack Obama has proposed a change that would prevent the estate tax from disappearing in 2010, but which would also unnecessarily cut the estate tax below [...]
Tags: Estate Tax · Opinion · Tax Policy
Wall Street Journal – Taxes Blog
