Estate and Gift Tax Rules for 2011 and 2012
Dear Clients and Friends:
On December 17, 2010, President Obama signed a significant package of tax legislation. (It’s officially called “The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010”.)
The primary feature of this legislation is a two-year extension of the Bush-era income tax cuts. However, the Act also addresses the repeal of the estate tax for 2010 and its reinstatement in 2011.