NEWS
Cliff Not Just Income Tax
Urban C. Lehner Editor Emeritus
Mon Dec 10, 2012 11:33 AM CST

CHICAGO (DTN) -- Soaring land values are putting farmers' heirs in a potential pickle. When mom and dad die they could end up owing Uncle Sam hundreds of thousands (or even millions) of dollars in estate tax. To raise the cash some may end up having to sell the farm.

That's true even under today's relatively favorable estate-tax regime: a tax rate of 35% and an exemption of $5 million per spouse. If the politicians can't strike a compromise and we end up going over the fiscal cliff, we will go back on Jan. 1 to the 2001 regime: a ...

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