As of January 1, 2010, the Federal Estate and Generation-Skipping Transfer Taxes have been repealed. While this repeal has been on the legislative books since 2001, very few people truly believed that it would occur. This is because the repeal is only temporary, and the Federal Estate and Generation-Skipping Transfer Taxes return in a much more onerous fashion in 2011 -- unless Congress enacts new legislation before then.
Read more by opening the following link: 
Repeal of Federal Estate Tax
Repeal of Federal Estate Tax