Does estate tax exemption end 2013?

On July 25, 2012, the U.S. Senate voted on a bill to extend income tax cuts that expire December 31, 2012. Unfortunately, the bill failed to address the estate tax. The vote was along party lines and Democrats sidestepped the estate tax, which currently allows for an individual exemption of $5.12 million. The failure to address the estate tax in the bill has resulted in uncertainty and speculation as to the exemption in 2013.

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