• The American Council on Gift Annuities suggested new payment rates on charitable gift annuities effective July 1, 2010.
• Specific income tax rates, such as 39.6%, 36%, 31%, and 28%, no longer exist and examples that use them are inaccurate. The accurate rates that should be used in publications as of 2003 are 35%, 33%, 28%, 25%, 15%, and 10%.
• Estate tax exemption of $675,000 and/or references to the phase-in schedule to $1 million in 2006 are no longer accurate. The exemption amount for 2008 was $2 million. On January 1, 2009, the exemption amount increased to $3.5 million.
• The one-year repeal of the estate tax for 2010 is scheduled to expire in 2011 and may be subject to retroactive revision in 2010.
• The maximum rate for gift tax remains at 45%. References to unified credits and being able to leave the same amount during lifetime as at death tax-free may no longer be accurate as the estate tax exemptions will be rising in the future while gift tax exemptions will remain at $1 million. 
• References to generation-skipping taxes, rates, deduction limitations and exemptions should be very carefully examined, as the law has made significant changes in this area as well.
• References to $12,000 annual exclusion amounts are no longer accurate as the exclusion was raised to $13,000.
• The maximum rate for most capital gains and dividend income was reduced from 20% to 15% in 2003.

Materials that feature content that is not accurate in light of the above may mean that your materials are obsolete and should to be replaced with updated publications.

The following chart is designed as an aid in determining whether Sharpe publications you have are still appropriate for use. Any copies of affected publications that bear a code other than those listed below should be carefully reviewed in light of the factors outlined above. If you have additional questions, please contact us at orders@sharpenet.com or call 1.800.238.3253.