The future of the (U.S.) Estate Tax

In December 17, 2010 President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (TRA 2010) into law. With one swift stroke, he quashed the hopes of some who thought they could inherit mom’s estate without any estate tax.  Or did he? What happened? The Economic Growth and Tax Relief Reconciliation Act of 2001 gradually …