The IRS announces "Increased Estate Tax Applicable Exclusion Amount" for 2009!

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07-15-2009, 02:31 PM

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The IRS announces "Increased Estate Tax Applicable Exclusion Amount" for 2009!

The IRS has announced that effective 2009, "an estate tax return for a U.S. citizen or resident needs to be filed only if the gross estate exceeds $3.5 million for decedents dying during 2009." This represents an increase from the amount of $2 million that was applicable in tax year 2008.

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