• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Estate-tax repeal won’t end installment bill

by on
in Small Business Tax

Q: My father died in 1998, and we decided to pay off the estate tax using the installment method. Now that estate tax is being repealed, will we still have to pay installments after 2009? R.V., Plymouth, Mass.

A: Yes. The estate-tax repeal applies only to the estates of people who die after 2009, not to estate taxes due after 2009. So you must continue to pay the annual installments in addition to the specified interest rate of 2 percent. Under that installment election for qualified estates, you can defer the tax payments as long as five years and then spread them out over the succeeding 10 years, for a total 15-year payment period. Tip: Unless Congress acts to make the repeal permanent, the federal estate tax will be reinstated after 2010.

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/22838/estate-tax-repeal-wont-end-installment-bill "

Related Articles...

    No matches

Leave a Comment