New Estate Tax Legislation Introduced

On Nov. 19, 2009, Rep. Pomeroy (D-ND) introduced H.R. 4154 "to repeal the new carryover basis rules in order to prevent tax increases and the imposition of compliance burdens on many more estates than would benefit from repeal, to retain the estate tax with a $3,500,000 exemption, and for other purposes."

For more information see Rep. Pomeroy introduces a new bill, H.R. 4154, Future of the Federal Estate Tax, Nov. 22, 2009. 

Special thanks to Hani Sarji (LL.M in Tax candidate at New York Law School) for providing this information.