Your Source for New Jersey and Nationwide Title and Escrow Services - 1-888-TITLE-NJ (848-5365)
Skip Navigation Links
Home
Contact Us: Send Us an Email
Office Locations
Our ServicesExpand Our Services
Order a Title Search
CalculatorsExpand Calculators
Recording Fees, Forms & Rate InformationExpand Recording Fees, Forms & Rate Information
1031 Exchange ServicesExpand 1031 Exchange Services
Newsletters and PublicationsExpand Newsletters and Publications
Links to Useful Web Sites
Technology Resources - Web SitesExpand Technology Resources - Web Sites
Terms and PhrasesExpand Terms and Phrases
Fidelity International & Other LanguagesExpand Fidelity International & Other Languages
About UsExpand About Us
AccoladesExpand Accolades
Notable Transactions
Title Talk Newsletters
Federal Estate Tax Exclusion Increased for 2012
The $5,000,000 federal estate tax exclusion for 2011 and 2012, originally set at $5,000,000 for both years, has been adjusted to $5,120,000 for those dying in 2012. Although no tax is imposed on the estates of those who died in 2010, if the executor failed to file a timely return in 2011 which claimed the exemption, the estate is subject to taxation at the rate of 35%.
What does the future hold? If Congress fails to act, the exclusion is scheduled to revert to the 2003 level of $1,000,000 in 2013. Given the politically-charged nature of the tax, it is likely that Congress will take action regarding the 2013 exclusion, but it is probably unlikely to do so until after the November elections.
Copyright © 2018 Chicago Title Insurance Company. All Rights Reserved. Privacy Policy    |     Contact Webmaster