The KYEstates Estate Tax Forecasting Contest

At KYEstates we love a good challenge. Our first challenge, the Petter “Glom On” Challenge, was a tremendous success, reported on here and here. We are excited to bring you another challenge opportunity, one that will run through the Great Year of 2010, The Year That Estate Tax Repeal Actually Happened!

In the KYEstates Estate Tax Forecasting Contest, the readers who most accurately predict the exemption level and maximum rate in effect for January 1, 2011 and when definitive legislation will be enacted will win prizes from the KYEstates StoreYou can enter the Contest by emailing KYEstates at carter{at}kyestates{dot}com.

(The first ten readers submitting entries will be entered in a random drawing for a prize to be awarded soon after receipt of the tenth entry, so don’t delay.)

There will be a grand prize, prizes in various categories, and participation prizes.  For prize details and Contest rules in Q&A form, keep reading below….

Q: Who may enter the Contest?
A: Any KYEstates reader acting in good faith. Although generally KYEstates does not believe hackers based in mainland China act in good faith, bona fide readers have nothing to worry about!

Q: How many times may I enter?
A: You may send as many predictions as you like, but only your most recent predictions will be scored at the close of the Contest.

Q: What are the categories?
(1) Best Overall Prediction. This determination will necessarily be subjective, but KYEstates will make it in good faith.

(2) Most accurate exemption level. If, as likely, more than one reader predicts the exemption level accurately, the prize winner in this category will be drawn at random, but other readers making the same prediction will receive honorable mention.

(3) Most accurate maximum rate level. If, as likely, more than one reader predicts the maximum rate accurately, the prize winner in this category will be drawn at random, but other readers making the same prediction will receive honorable mention.

(4) Timing of definitive legislation. The reader who picks the date that is closest to the date that the President signs legislation (or that a veto override is passed – Ha-Ha – As If!) that KYEstates deems in good faith to be a definitive resolution of the estate tax rate and exemption will win this category. Readers picking close dates that don’t quite win will receive honorable mention.

(5) Participation.  One contestant not winning in one of the other categories will be drawn at random for a prize.

Note, however, that KYEstates is not in the 20-20 hindsight business. Once definitive legislation is enacted, the contest is closed. Rep. Levin claims estate tax legislation will be wrapped up the week of April 5, so don’t delay your entry. Even if you don’t think Rep. Levin is correct, you still shouldn’t delay. Early predictions that turn out to be as correct as later predictions will score more highly in the “Best Overall Prediction” category.

Q: What prizes can I win?
A: Check out the KYEstates Store at CafePress. The store will grow over time, so prize options may expand. But we promise, they’re good prizes!

Q: Is there any cost to enter?
A: No.

Q: How do I enter?
A: Email your predictions to KYEstates at carter{at}kyestates{dot}com

Q: Will you use my email address?
A: Yes and No. Yes, we like to know who our readers are, and to stay in touch with them. If you enter the Contest, but ask that we don’t ever email you back except to award any prize you might win, we’ll honor your request. But if you don’t ask for that, we may email you from time to time about interesting developments or other contest/challenge opportunities, or about events of interest to the T&E Community. We will never disclose your email address to any third parties without your advance permission, ever. And if you ever want to stop receiving email from KYEstates, we’ll gladly honor that request – just let us know.

Q: Will you publicize the Contest winners?
A: Yes, unless any winner asks us not to publicize them – in which case we’ll happily honor that request.

Q: I don’t like preppie clothing and accessories. I want to enter the Contest, but I don’t want any of the prizes. Can you work with me?
A: Yes. If you win the contest and don’t want any of the prizes then available, KYEstates will send you a gift card to the locally owned coffee shop of your choice. If that’s good enough for Judge Holmes, it’s good enough for you, too!

Q: I work for the Ways and Means Committee [and/or my significant other is a staffer on the Joint Committee on Taxation]. I know the answers to the Contest like I know Gray’s Sports Almanac. Can I still enter the Contest?
A.            Y E S          Y O U          C A N !!
A(*): Note to regulators and government ethics people reading the Q&A above: that was a joke. If you have inside information, enter the Contest using a nom de guerre/nom de tax, okay? Try “Jason Bourne”, “Allen Dulles”, “Blanche Lincoln”, or “Max Baucus”. Thanks!

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{ 2 comments… read them below or add one }

Gerald Sutliff July 23, 2010 at 4:12 pm

After Congress refuses to renew the Bush Give Away to the SuperRich they collectively open their eyes and find that they’re still breathing. Then they reach down to find they have the stones to shut down numerous special tax “breaks” and THEN they start taxing passive wealth at a reasonable level annually, such as 1 and a half per cent. Finally Congress starts a “war tax” and tells the Executive Branch and the public that without a war tax they’ll “bring the troops home.”
Congresses poll numbers will reach a positve 95 per cent. Then I yell, “Stop shaking me Dear; I’m awake.”

Carter Ruml July 23, 2010 at 4:43 pm

Gerald, thanks for your readership and participation. Although KYEstates is pro-taxpayer, we generally don’t express opinions about what tax rates ought to be. Congress sets the rules, and then our fun begins….it’s good that you and other readers are getting engaged. Thanks again, and other readers, feel free to let KYEstates know not just where you think the estate tax will go, but where it ought to go.

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