On October 1, 2010, the Wall Street Journal published Treasury Works On Clearing Up Estate-Tax Questions, by Arden Dale:
The U.S. Treasury is working on helping out taxpayers and their attorneys mired in troubles from the one-year gap in the federal estate tax. A main problem affects how much capital gains people will owe.
On Friday, the agency confirmed a report that it is working on how to value assets in an estate to determine capital gains, plus other matters. Congress, in letting the estate tax repeal stand for 2010, left numerous questions unanswered.
Treasury spokesperson Sandra Salstrom said the agency is working on "guidance that may be necessary, depending on how the estate tax is ultimately addressed," and confirmed that Catherine Hughes, an attorney-adviser in the agency's Office of Tax Legislative Counsel said officials know direction is needed urgently.