Ways and Means Committee Chairman Introduces Estate Tax Relief

House Ways and Means Committee Chairman Bill Thomas (R-CA) has introduced legislation that would permanently extend lower taxes on estates. As S-CORP members may know, estate tax relief has been a top priority of the small business community and has particular importance for family-owned businesses.

The Thomas bill is intended to restart the debate on the so-called “death tax” after the Senate failed on a procedural vote to take up legislation (H.R. 8 ) to permanently repeal the estate tax. Senate Majority Leader Bill Frist (R-TN) has declared his intention to send the President a permanent estate tax relief bill before

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