Quantcast Senate Extension of Estate Tax Blocked | Seattle Washington Estate Law | Estate, Bill, Baucas, Extension, News, Senator, Effort
 
 

Main Menu

What Others Are Saying

  • Virtual Bumper Stickers: Jesus says: Repeal the estate tax. 11 Feb 2012 | 2:56 pm

    EOO: An Equal Opportunity Offender; different stickers will offend different readers. Saturday, February 11, 2012. Jesus says: Repeal the estate tax. --Paraphrase of Gail Collins. posted by Jim Horning at 1:56 PM. 0 Comments: Post a Comment ...

  • A Spendthrift Trust May Be The Solution | Co-Executor PLC ... 11 Feb 2012 | 1:48 pm

    The realities of the federal estate tax come into to play here and if you are exposed you must take action to gain estate tax efficiency. Another thing to take into consideration would be the personal proclivities of the people who will be receiving ...

  • Do You Know Your Potential State Death Tax Liability? | Michael ... 11 Feb 2012 | 1:45 pm

    Do You Know Your Potential State Death Tax Liability? Posted on February 11, 2012 by Michael. On my plane ride home last Friday I found out that I was quoted in the January edition of Financial Advisor magazine http://bit.ly/x2HAZ2 It was in ...

  • A Fairness Quiz for the President - Ahwatukee TEA Party 11 Feb 2012 | 1:22 pm

    Is it fair that Americans who build a family business, hire workers, reinvest and save their money—paying a lifetime of federal, state and local taxes often climbing into the millions of dollars—must then pay an additional estate tax of 35% (and ...

  • LBN Blog - | LBN E-Lert 11 Feb 2012 | 1:01 pm

    The bishops have a chance to break the peculiar bond between social conservatives and the fiscal hard right that presumes if Jesus returned today, his first move would be to demand the repeal of the estate tax. Let's move on. Blessed are the ...

 
Home Blogs Derek's Tax Blog Senate Extension of Estate Tax Blocked

Senate Extension of Estate Tax Blocked

Written by Derek W. Jensen
Wednesday, 16 December 2009 08:38
Share/Save/Bookmark

A lot can happen in the other Washington before breakfast in Seattle.

My breakfast reading this morning included reports that Senate Finance Committee Chairman Max Baucus of Montana was working to include a 2 month extension of the current estate tax. I reported yesterday how the House had abandoned its efforts in an attempt to get out of DC before the weekend.

However, Senator Baucas didn't give up hope and made efforts to find the 60 votes necessary to attach the extension to the Senate version of the defense appropriations bill. How did do? I found the answer on the TaxProf blog. Thank you Professor Caron.

This, of course, is not the end of the story. Senator Baucas plans on being back in 2010 with a bill to reinstate the estate tax and make it retroactive!

One quote from Baucas to chew on. "It's so irresponsible to further the yo-yo effect by allowing current law to expire, and create this massive confusion." He said it. Thank all of you in the other Washington for this "massive confusion". Can I send you the bill for trying to explain it to my clients?

Tags:

Related Articles

 

Estate Tax in the News