It’s a Done Deal!

NB: This article was published on December 17, 2010 and contains information that may be outdated. For current information regarding the estate tax, read: Estate Tax Certainty…For Now.

Last night, members of the House of Representatives approved the agreement reached between Republicans and President Obama, which temporarily extends Bush-era tax cuts for all Americans and sets the estate tax exemption amount at $5 million and the tax rate at 35 percent for individuals passing more than that to their heirs. The bill now heads to President Obama for his signature.