Contact UsIt is my understanding that the Estate Tax was repealed in 2010 but was reinstated in 2011 with significant changes in the exemption amounts and rates. What are the primary changes my husband and I should pay close attention to?
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Tax Professional Answers
William Keats
The exclusion for both estate tax and gift tax for 2011 was $5,000,000 and increased to $5,120,000 for 2012. The maximum estate tax rate for 2011 and 2012 is 35%. The exemption amount for 2013 is $5,225,000, with a maximum rate of 40%.
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566 weeks ago