The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (better known as the Bush tax cut extension package) enacted in December finally clarifies the federal estate tax treatment for estates of individuals who died in 2010 (shame on lawmakers, this law is far more than a little late).
As you would expect with retroactive enactment, the new law takes a winding road.
The new rules give executors of 2010 estates two choices:
Use the new law. The estate ... Log in to view full article.