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This page contains a single entry by Associate Editor published on August 9, 2011 9:02 AM.

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IRS Provides Guidance to Executors on Skipping 2010 Estate Tax

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In a Bloomberg article titled "Estate Executors Must Decide 2010 Tax by November 15," Richard Rubin and Alexis Leondis discuss how the IRS is giving executors of estates of people who passed away in 2010 until November 15, 2011, to opt out of the estate tax.  The article discusses how some estates may fare better by paying the estate tax because the assets, such as stocks, will pass to heirs with stepped-up basis, which means they carry the value they had at the time of death.

Posted by William Alan Nelson II, Associate Editor, Wealth Strategies Journal

 

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