dq1 week9

Per the text, a voluntary compliance system is built on the fairness of the system. The federal estate tax is often referred to as a death tax on wealthy individuals. The Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 provided for periodic increases in the exemption amount for decedents who die after December 31, 2001, until the filing threshold reached $3.5 million in 2009. The tax was repealed in 2010 and later reinstated beginning in 2011. From the e Activity, determine one (1) major factor contributing to the fairness of estate taxes on wealthy individuals prior to EGTRRA and the current structure of the federal estate tax.