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Most people are in favor of abolishing all estate taxes. The idea of paying tax for dying is reprehensible to most Americans. However, most people do not fully understand who is subject to estate taxation. It is interesting to note that very few people are subject to the Federal estate tax. In 2008 less than one percent of deceased persons will be subject to Federal estate tax. Still the estate tax remains an important issue to many people and politicians alike. A basic understanding of estate taxation can be helpful in developing an estate plan.

Tax information for the 2008 Tax season that is right around the corner. Don't wait for tax penalty start right.