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April 15, 2015

Estate tax hits fewer than 1% of estates

  • The federal tax rate on estates is 40 percent, but the exemption is $5.43 million for a single person and $10.9 million for a married couple. Larger estates pay taxes only on the amounts above these thresholds.
    • By STEPHEN OHLEMACHER
    Associated Press

    WASHINGTON — The federal estate tax inspires a lot of heated political rhetoric for a tax that very few people actually pay.

    The House is scheduled to vote this week on a bill to repeal the estate tax, part of a package of bills highlighting Wednesday's deadline to file income tax returns.


     
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