February 11, 2013
Permanent Estate Tax Won't Affect Most
After much change over the past decade, the federal estate tax has finally become permanent. Tables from the Tax Policy Center show that, in 2013, fewer than 1 in 700 estates will owe the tax and they will pay a total of $14 billion, which is half of the revenue collected five years ago.
Most estates will now pass to heirs tax-free, so the higher 2013 tax rate does not effect the nearly 99.9% o estates exempt from estate tax. But those who are subject to the tax will have a significantly higher tax bill.
See Robertson Williams, Finally, A Permanent Estate Tax, Though Just for Wealthy Few, Forbes, Feb. 7, 2013.
TrackBack URL for this entry:
Listed below are links to weblogs that reference Permanent Estate Tax Won't Affect Most: