With the current estate tax regime set to expire in 2010, it’s time to consider what comes next, say the nation’s tax experts.With that sunset date fast approaching, the Tax Division of the American Institute of CPAs has taken its comprehensive reform proposal and boiled it down to a top-seven priority list of suggested reforms that it urged Congress to pass prior to the expiration date.
In developing these suggestions, the AICPA focused on the complexity of the current system, taxpayer and compliance burdens, ease of administration, and revenue constraints, according to Roby Sawyers, the chairman of the Transfer Tax Reform Task Force.
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