Actress Elizabeth Taylor has passed away at the age of 79.  ABC News has confirmed that Taylor died of congestive heart failure this morning at Cedars-Sinai Medical Center.

Taylor's career in Hollywood spanned five decades.  She was nominated for five Oscars and she took home the award for Best Actress for her riveting performances in Who's Afraid of Virginia Woolf? and BUtterfield 8.  While she retired from acting in 2001, she was one of Hollywood's greatest legends and one of the most in-demand stars of the 1950s and 60s.  In 1985, she devoted herself to fund-raising and activism against AIDS and the family asks that in lieu of flowers, contributions can be made to Elizabeth Taylor AIDS Foundation. Our deepest condolences go out to Ms. Taylor's friends and family.  Hit the jump for a statement from her son Michael Wilding.

Taylor's son Michael Wilding released an official statement:

"My Mother was an extraordinary woman who lived life to the fullest, with great passion, humor, and love.  Though her loss is devastating to those of us who held her so close and so dear, we will always be inspired by her enduring contribution to our world. Her remarkable body of work in film, her ongoing success as a businesswoman, and her brave and relentless advocacy in the fight against HIV/AIDS, all make us all incredibly proud of what she accomplished. We know, quite simply, that the world is a better place for Mom having lived in it. Her legacy will never fade, her spirit will always be with us, and her love will live forever in our hearts."

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