Article on the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010’s Clawback

James P. Spica (Attorney, Detroit, MI) recently published his article entitled, Future Perfect: How Tense and Mood Will Have Declawed the Claw-Back, 49 Real Prop., Trust and Est. Law 475 (Winter 2011). The Editors’ Synopsis of the article is below:

In its current form, the sunset provision of the Economic Growth and Tax Relief Reconciliation Act of 2001, section 901, as amended by section 101(a)(1) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (2010 Act), is sufficient, in itself, to prevent Internal Revenue Code section 2001(b)(1)’s inclusion of 2011 or 2012 gifts covered by the margin of the 2010 Act’s $5 million “applicable exclusion amount” from generating an estate tax to be “clawed back” from donees of decedents who die in 2013 and later.