Here are answers to today’s quiz on the federal estate tax:
- What percentage of estates will have to pay the estate tax if it is restored to its 2009 level?ANSWER: a. Less than 1%
- On average, estates that owe estate tax pay___% of the estate’s value in tax .ANSWER: b. Less than 20%
- True/False: Before the estate tax expired this year, many small farms and businesses had to be liquidated to pay the tax.ANSWER: False
- True/False: Most Americans pay the estate tax.ANSWER: False
Reminder: If you keep score on your own and send an email to [email protected] at the end of the week with your score, we’ll send you one of our newly-designed Center on Budget T-shirts.