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Is estate tax reform on deck?

by on
in Small Business Tax,Small Business Tax Deduction Strategies

Now that the massive health care law has finally been enacted, federal estate tax reform could be next. One interesting idea that has recently surfaced is to give estates a choice between observing the status quo (i.e., no estate tax in 2010) or the rules in effect in 2009 (including a $3.5 million estate tax exemption).

The choice may be complicated by carryover basis rules that could cause future income tax problems for heirs opting for no estate tax. Key advantage: This type of setup might avoid constitutional challenges to a retroactive law.  


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