Here’s an interesting article I came across explaining why the Federal Estate Tax probably won’t be revoked this year and, perhaps, not any time real soon. Take a look.
Estate Tax Won’t Be Repealed This Year, Predicts Top Estate Tax Attorney
January , 2017 • TED KNUTSON
Despite promises by President Donald Trump and Congressional Republicans, the estate tax won’t be repealed this year, a top estate tax attorney told a seminar in Washington, D.C., Thursday.
The enormous complexity of ending or altering the tax and the fact that many Trump voters don’t care because they are not wealthy enough to pay it bodes against repeal, said Ron Aucutt, former president of the American College of Trust and Estate Counsel.
“Congressional leadership will spend political capital elsewhere,” predicted Aucutt, who served on the Internal Revenue Service Advisory Council from 2015 to 2016.
The attorney said he doubts new Trump leadership in the Treasury Department and the IRS will impact estate planning.
“Most of the rules that affect estate planning are written by career IRS employees who are not political appointees and don’t have political agendas,” Aucutt said at a Washington, D.C., Bar Association meeting.
