Fiscal cliff deal and the estate tax
Fiscal cliff deal and the estate tax
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The fiscal cliff deal reached in the eleventh hour on January 1st made changes to federal estate and gift tax exemptions and rates. The agreement avoided draconian measures that would have dropped the estate tax exemption to $1 million from $5.12 million per individual and raised the estate tax rate on amounts over the exemption to 55 percent from 35 percent.
Fiscal cliff deal makes estate taxes, exemptions permanent
The compromise reached ...