If the person filed the extension and had to pay the taxes, would the estate then have to file for a return of the estate tax if it opted out and filed form No. 8939 instead?
The Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution, estimates that 44,000 estates would pay a total of $34 billion in estate tax in 2011, compared with the 5,500 estates, which paid $14 billion in 2009.. (For advice on protecting your family from the return of the estate tax, click here).
(While the estate tax has lapsed for 2010, under current law the estate tax exemption will be just $1 million come Jan . 1 2011. For more on planning for the return of the estate tax, click here).
The complexities of the tax system and the likely return of the estate tax next year — maybe even sooner — are creating confusion for accountants, lawyers and many families.
The return of real estate marks a key milestone in the country's economic recovery – and not only because it was at the root of the collapse.
Back in 2001, President Bush could have dealt with the alternative minimum tax issue, just as he could have proposed lowering taxes and not pretending they would bounce back to the old rates in 2011, including the return of the estate tax.
(For advice on how to deal with the return of the estate tax, click here).
(For advice on dealing with the return of the estate tax, click here).
Forbes: An individual investor who might go on the stock market sees what you see, few years out, some real bargains out there; how does an individual investor participate in the return of real estate other than being a developer?
On the cover of their most recent issue, Fortune declares the "return of Real Estate" to be upon us.
At this point, the White House and Congress have reached a tentative arrangement where the tax cuts will be extended for two years in exchange for an extension of unemployment benefits, a cut in payroll taxes and a return of the estate tax, though at a lower rate.
