b'ndu s tryNew s Millions ofUsing mortality rate projectionsTax Changes to Affect2. Hurricanerelief a charitable Home Ownersnd to Face Estate Taxfrom the Centers for D Con Millions This Yearg ng:Newtaxbreaksbenefit iseaseiviRamifieations in 2011,trol, NAHB estimates thatthanMajortaxlawchangesandthoseimpactedbyhurricanes more New Study Shows50,000 of these households wouldmissedcredits w l affect millionsalong the Gulfand indivil Coastid2011, Millions of home owners couldbe subject to the estate tax inof taxpayers this year.uals who contributed to the relief face the specter of higher taxes inaincrease from currentTherearen guidelinesfore ts. substantialewffor2011,unlessCongressactstofigures.claiming child-re ted benefits and3. A rnativem imumtax:Tla lte in he repealorreformtheestatetax,WhiletheJoint Committeeonn taxbreaks forhurricane vnumber of taxpayers paying the ewicaccording to astudy releasedTaxation estimates that there will betimsandcharitabledonors.T AMT will soar from4lnewhenearlymibytheNationalAssociationofapproximately 110,000 estate tax alternative minimum tax (AMT)islion into almost 20 million 2005 Home Builders (NAHB).payersin2011,theNAHBreporton track to snare a 4 millionin2006ifthelawremains lmost "Today, the estate tax is clearlyfinds that 46 percentthese estatetaxpayersthis year,andmillionsunchanged. of anissueforfamily-ownedbusi taxpayerswibepayingth istaxmore will fail toclaim credits for4. Earnedincometaxcredit:It II nesses.UnlessCongressactssolely because the net worth of theirtheir higher education expenses.makes the list every year, but 25 quickly to permanently repealthishouse tops the $1 million thresh Miss out on these changes, andpercent of eligib families fail to le onerous tax, it could also ensnareold.you could be joining the millions ofclaim this credit, which isrth womillions of home owners starting inThis analysis does n even con Americansoverpayingtheirtaxesan average of $1,760. ot 2011," said NAHB President Davidsiderotherh wealthinby $1 billionyear by m ing5. Education-related benefits: Nearly ouseholdeachissPressly,ahomebuilderfromdetermining the number of affectedcredits andions.27 percent of eligible taxpayers deductStatesville, N.C.estates. T intowealthTohelptaxpayersu faileducation tax ben akingaccountnderstandto claim The "Economic Growth and Taxfromsourcessuchasbusinessthese issues, H&R Block is kick fits. E luating which eduingva cationRelief Reconciliation Act of 2001"assets. financial holdings and otheroff the tax season by mobi iziitstaxb ak providesthe greatest Ingresigned into law by President Busha increases the esti networkofmorethan70,000 taxsavings - thefetimeLearning sset categoriesLifive years ago, will gradually phasematessubstantially.Millionsofprofessionals. H&R Block tax pro Credit,theHopeCreditand outthe estate taxuntilit is fullyadditional families who today ownfessionalsbe hitting the streetsTuition and Fees Deduction -can will repealed in 2010. However, w uthomesvaluedbetween$450,000acrossAmerica,deliveringfreebed cultbecauseofodd itho iffipermanent repeal or some type ofand $550,000 will exceed $1mil advice on tax topics with the mostph andibility aseoutsvarying eligreform,the tax willcomeroaringlion in total assets in 2011, makingwidespread impact.g delines. uiback in 2011to its pre-2001levelthem eligible for estate tax liability"Our tax experts have identifiedFor additional tax tips and infor-apercentrate on amountsas well.fivemajortaxareasthatdeservemation,visit www.Natio lTaxAd55taxna$1 exceeding amillion exemption.Formoreinformationonthisspecial attention by taxpayers thisviceDay.com. Under current law. this year there isreportaswellasmorein-depthyear," said Tim Gokey,of president a taxrateof46percentontheanalysis,keydataandhousingtheU.S.TaxDivisionofH&R amount that exceeds a $2millionforecasts,pleasesubscribetoBlock. exemption.HousingEconomics.com,NAHB\'sHere are the top five things you Employing a conservative fore economicspublicationforAmer need to know about taxes this year: cast of housing prices, theNAHBica\'s h industry. Annual1. Claiming child-related benefits: ousingsubreport. entitled "The Estate Tax andscription prices for NAHB membersA new"uniform definitionof a Housing,"showsthatnearly3.5startat$195.NAHBmemberschild"changeshowtaxpayers million homes will exceed $1mil shoucontact Karel Leon at 202- canclaimchilddependents. Id lion in market value inguar 266-8476 or kleon@nahb.com forAnyone with amay gain 2011,childor anteeingthatthosewhoinheritsubscription questions.lose important tax benefits due Non-memthem will be liable for estate taxes.bers s visit www.housingeco to the changes. hould nomics.com to subscribe.'