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Nothing
They are tax provisions that have yet to be carried over/extended. It does not effect preparation of returns for TY2009. And, you are not yet worried about TY 2010, are you?Originally posted by spanel View Post
With the "end" [lol] of the estate tax, there could be an interesting situation depending on how much time elapses before it is revived.Just because I look dumb does not mean I am not. -
It almost made it sound like it affected this years tax returns
ChrisComment
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They'll (mostly) be back
Congress goes through this process periodically. From the article cited: ""We've seen this movie before," sighs Clint Stretch, managing principal of tax policy with Deloitte Tax."
The folks on Capitol Hill were so engrossed in health care legislation that they pretty well ignored everything else during November and December.
Since it's an election year, my vote is that most programs will survive in some shape or form.
But it does make some long-range tax-planning options for calendar year 2010 a bit shaky.
The folks who are really going to be pulling their hair out are the financial planners/attorneys who have to deal with estate tax issues. Things have just about come down to the point where someone needs to figure the "correct" time to die.
FEComment
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