Many clients have been asking about the status of the estate tax. Regrettably, there is nothing new to report on this issue for federal purposes. Presently, there is no federal tax on the estates of individuals dying in 2010. Although many believed that Congress would reinstate the tax on estates in 2010, that has not happened, and the more time that passes the less likely it is that it will happen. Meanwhile, some states whose estate tax laws were tied to the federal law grew tired of waiting for Congress to act and have passed legislation...
