News and Notes Archive June 2010

Billionaire dies in 2010 - pays no estate tax

As we've discussed before, 2010 is a very strange year for the federal estate tax.  Under the Economic Growth and Tax Relief Reconciliation Act of 2001, the estate tax rate decreased and size of an estate which would pay no estate taxes increased until, in 2009, a $3.5 million estate would not pay taxes.  And then, this year, in 2010, the estate tax went away altogether -- for just the one year.  Due to the way the estate tax repeal was structured, in order to reduce the apparent cost of the…

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