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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (287696)5/11/2006 1:20:30 PM
From: Jim McMannis  Read Replies (1) of 1575905
 
RE:"Inheritance tax doesn't even kick in until 7 mil. now."

The applicable exclusion amount increases to $2,000,000 for decedents dying in the years 2006, 2007 and 2008. The amount increases to $3,500,000 for 2009. According to the Econonic Growth and Tax Relief Reconciliation Act of 2001, the federal estate tax disappears for the year 2010, but the tax returns in 2011 at the 2001 level.

I'm not sure why they did the " the federal estate tax disappears for the year 2010, but the tax returns in 2011 at the 2001 level."

Huh? People gunning to die in 2010?

Gores plan was even better.
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