NU Online News Service, Dec. 10, 12:23 p.m. EDT
WASHINGTON–The bipartisan tax cut legislative package unveiled by the Senate last night would include the most generous of all the estate tax provisions talked about over the last five years.
The legislation would provide a lucrative benefit for families of people who died in 2010 by allowing them to receive a step-up in basis (which is the difference in the value of the property between this year and when it is sold in the future by the heirs) for their estates even though there was no estate tax in 2010.
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