Last weeks denial by the Senate of a permanenet repeal of the estate tax has meant tens of thousands of moderately well-off households have been given a break. According to a study cited by Newsweek Congress's nonpartisan Joint Committee on Taxation states that 7,500 estates would be better off under the full repeal but more than 60,000 would be worse off.
This can be very confusing to those that don't understand how any estate could be better off under the 2009 rules than under the 2010 version of the permanent repeal. To get the full story read this Newsweek article in full.
In a nutshell? "There are lots more losers than winners under full repeal compared to the 2009 rules," says Buckley, who used the study for a 2005 paper in Tax Notes, a professional journal. Yes, Buckley's a partisan. But it doesn't make him wrong—the numbers are the numbers.
Know More about tax issues and investments at GrowYourFunds.com.
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