Congress May Reduce the $5M Gift Tax Exemption Before End of 2011

Dear Friends, Colleagues, and Clients, The rumor mill has been spinning regarding potential looming changes to the current $5M gift tax exemption. We have learned that the Congressional super-committee is seriously considering an imminent change to the gift tax rules. For a variety of reasons, this is a compromise the republicans appear willing to accept. If a majority of the committee members agree, there will be an immediate reversion back to 2009 gift tax rates and a reduction back to a $1M gift exemption, effective […]

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