Estate Tax Reform In the Works?

Boomberg Business Week reports that, per Sander Levin, The House Ways and Means Committee will begin work next month to retroactively reinstate the 2009 Federal Estate Tax law which applied a 45 percent tax rate on the value of estates that exceeded $3.5 million per individual.

The lapse of the law, and the complicated capital gains tax that replaced, is was making it hard for families to plan their estates. One possibility being considered would let heirs choose to pay the capital gains tax that replaced the estate tax if that is more beneficial.