Estate Tax 2010?

Possible action on the Federal estate tax. Will something happen, if not, will the politicians [we need a dirtier sounding word to more accurately represent these actors] pass something later that is retroactive?

This would cause folks who have died on or since 1/1/10 to not know whether they owe a tax, whether to file a return, file without paying the tax, then wait years to have the Supreme Court what if anything they owe - all the while the infamous IRS interest and penalties accruing faster than the estate grows!

I still think there is a possibility, they will wait until later in the year, pass something permanent at an exemption level higher than the 2011 of one million dollars, and call it a tax cut.

At this point, it is hard to know where we are going, even with some movement, because if passed, the retroactivity feature may or may not be included, and if it is, will it ultimately be upheld?

More later!