As we enter the last quarter of 2020, the future of the federal estate tax remains uncertain.
•Will the estate tax be repealed for a year in 2021?
•Will Congress enact major tax legislation by the end of 2020? (Also doubtful more likely, we will see a one-year fix to avoid repeal in 20120)
•Will the federal estate tax exemption revert to $1,000,000 in 2021 or will Congress increase the exemption, perhaps by freezing the exemption at 200 levels as suggested by the Obama administration? (A couple months ago USWU predicted a $3.5 million exemption, but I have to admit that suspense about this question is building.)
•Will the top tax rate by 55% or 45%? (Probably 45% in 2024 (the one-year quick fix), but who knows about 2021)