Steinbrenner's final win -- over estate taxes

Updated

In 2001, Congress announced with great fanfare that the federal estate tax had been repealed. Of course, they failed to focus on the fact that the so-called "repeal" would only last for one year: 2010. At the time, most tax professionals laughed at the idea of a one-year repeal, believing that it could never happen. It did.

The controversial tax has remained on the back burner for much of 2010. Two high-profile deaths are pulling it back into the spotlight. In March, Texas billionaire Dan Duncan passed away with a fortune estimated by Forbes magazine to be worth $9 billion, the 74th wealthiest person in the world. Had he survived for just nine more months, his estate would have been subject to about $4.95 billion in federal estate tax.

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