Posts Tagged ‘Generation Skipping Transfer Tax’

Federal Estate Tax lapses in 2010 and Congress has not yet decided what to do about it.

As you may know by now, the Federal Estate Tax lapsed in 2010 and Congress has not yetdecided what to do about it. I ran across another good end-of-year planning article, written by Robert Wood for Forbes. I think his tips are worth repeating here. 1. Remember that, even though there is no estate tax this year, executors for estates valued atmore than $1.3 million still must file an “informational” return with the IRS.2. While some (morbid) people are referring to this as “the year to die,” it is perhaps moreimportantly “the year to give.” The Gift Tax is still…

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