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6/3/09 Estate Tax News

Posted by Predovich & Company

Senate Finance Committee Chairman Baucus says tax writers will address the estate tax at some point this year despite the stack of legislation piling up on the committee's agenda.  Under current law, the estate tax is set to be repealed in 2010 but in 2011 it returns to 2002 levels with an exemption of $1 million and a top tax rate of 55 percent.  Baucus says the committee will find the time to take up the estate tax despite also having to work on health care reform, climate change legislation, a surface transportation re-authorization, and an aviation re-authorization. 

Source: Bureau of National Affairs 6/3/09

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