• The American Council on Gift Annuities suggested new payment rates on charitable gift annuities effective January 1, 2012. (See www.acga-web.org for more information.)
• 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 2012 are 35%, 33%, 28%, 25%, 15%, and 10%. (Old rates are scheduled to return in 2013.)
• References to the estate tax phase-in schedule of $1 million for 2006, $2 million for 2008 and $3.5 million for 2009 are no longer accurate.
• The one-year repeal of the estate tax for 2010 expired in 2011. The exemption amount for 2011 was $5 million and $5,120,000 for 2012. (Scheduled to fall to $1 million in 2013.)
• The maximum rate for gift tax remains 35%. References to unified credits and being able to leave the same amount during lifetime as at death tax free are once again accurate.
• 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 and is scheduled to remain at that level through 2012.

Materials that feature content that is not accurate in light of the above may be 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 Any copies of affected publications that bear a code other than those listed below likely are out of date. If you have additional questions, please contact us at orders@sharpenet.com or call 1-800-238-3253.