No deal will mean estate tax goes up next week
Posted: December 28, 2012 at 12:25 a.m.
Unless Congress and President Barack Obama reach a budget and tax deal by Monday night, heirs to estates will face hefty increases in their tax bills. As part of the 2001 George W. Bush-era tax cuts, Congress lowered the tax rate on estates from 55 percent to the current 35 percent. Exemptions were increased so that couples do not have to pay taxes on the first $10 million of their estates, up from $2 million in 2001.
This story is only available from our archives.
Front Section, Pages 1 on 12/28/2012
(Advertisement)
« Previous Story
Power still off for 165,000 in state
Utility crews restored power to about 100,000 of the nearly 265,000 customers who lost service during a Christ... Read »
Next Story »
With Django Unchained, Tarantino again makes ...
Django Unchained 85 Cast: Jamie Foxx, Christoph Waltz, Leonardo DiCaprio, Samuel L. Jackson, Kerry Washington,... Read »
Comments
To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Please read our comment policy.
Use the comment form below to begin a discussion about this content.
Registration is required to make comments. Click here to LOGIN.
You can register for FREE to post comments and receive alerts.