Monthly Archives: February 2012

Repeal of estate tax proposal pending

H.R.1259 –  This bipartisan House bill would permanently repeal the federal estate tax, repeal the federal generation-skipping transfer tax, and extend the $5.12 million lifetime gift tax exemption and 35% gift tax rate. Currently the bill has approximately 194 co-sponsors. Of course, only time will tell what will happen in this election year.