• The Estate and Gift Tax Window of Opportunity Has Reopened—But Only for Two Years
  • February 10, 2011
  • Law Firm: Robinson Cole LLP - Hartford Office
  • After years of uncertainty about whether the federal estate tax repeal would survive, whether the 2009 rules would be extended, or whether the pre-2001 rules would be restored, Congress finally acted in late 2010, only to provide an entirely different set of rules. The Tax Relief, Unemployment Insurance Authorization, and Job Creation Act of 2010 (the Act), signed on December 17, 2010, clarifies the tax impact on gifts made in 2010 and on the estates of persons who died that year, while also changing the rules for 2011 and 2012. Unfortunately, the Act sunsets on December 31, 2012.