Estate Tax
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Estate Tax
ASSET, Americans Standing for the Simplification of the Estate Tax is tracking news and information regarding tax reform and the estate tax.
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Baucus Plans Release of Code Revision Drafts in Two Weeks: Taxes

Baucus Plans Release of Code Revision Drafts in Two Weeks: Taxes | Estate Tax | Scoop.it
Senate Finance Committee Chairman Max Baucus said he intends to release his first draft for a comprehensive tax-code revision within the next two weeks.
ASSET's insight:

Senate Finance is moving downt the track now. #TaxReform #EstateTax #ASSET

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IRS Raises Limit On Tax-Free Lifetime Gifts

IRS Raises Limit On Tax-Free Lifetime Gifts | Estate Tax | Scoop.it
Starting in 2014 the basic exclusion amount will go up to $5.34 million per person, from $5.25 million.
ASSET's insight:

Still not enough if you're an employer or a farm.  $5.34 million is better than $1 million.  #ASSET has a better way.

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Estate Tax News: Panel Talks Estate Tax on Capitol Hill before Government Shutdown

Estate Tax News: Panel Talks Estate Tax on Capitol Hill before Government Shutdown | Estate Tax | Scoop.it
ASSET sponsored a panel discussion on the estate tax and the role it plays in current tax reform strategy.
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The Die Harder States - Wall Street Journal

The Die Harder States - Wall Street Journal | Estate Tax | Scoop.it
Wall Street Journal
The Die Harder States
Wall Street Journal
Now the death-tax debate has shifted to state capitals, with mixed results depending on which party runs the state.
ASSET's insight:

Maryland has long been one of the states you do not want to die in.  The Tax Foundation says that's why Maryland has lost $5 billion in AGI in the last ten years to neighboring states.

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Death & Taxes: Elvis Presley Topped Charts And Tax Brackets - Forbes

Death & Taxes: Elvis Presley Topped Charts And Tax Brackets - Forbes | Estate Tax | Scoop.it
Death & Taxes: Elvis Presley Topped Charts And Tax Brackets
Forbes
Good evening. Elvis Presley died today. He was 42. Apparently, it was a heart attack. He was found at his home in Memphis not breathing.
ASSET's insight:

Forbes: Elvis Presley tops the charts even in #taxes 

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Go Big and Bold on Tax Reform

Go Big and Bold on Tax Reform | Estate Tax | Scoop.it
Today's Congress should take a page out of the Reagan-era playbook.
ASSET's insight:

Tax Reform:  Dead or Alive?

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Alexander Cosponsors Permanent Repeal Of Death Tax - 10/31/2013 - Chattanoogan.com

ASSET's insight:

More news...the Death Tax Thune bill picks up another co-sponsor.  But the bigger news is Baucus will release a draft tax reform bill in two weeks.

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IRS lawyers defend $2B tax bill to Bill Davidson estate

IRS lawyers defend $2B tax bill to  Bill Davidson estate | Estate Tax | Scoop.it
A dispute between the IRS and the estate of William Davidson could set up one of the largest such estate tax fights in U.S. history.
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Dealing with the death tax State by State- NorthJersey.com

Dealing with the death tax State by State- NorthJersey.com | Estate Tax | Scoop.it
Neumann: Dealing with the death tax
NorthJersey.com
Over the last few weeks, a few of my clients have had to deal with the death tax. This tax has many names - the inheritance tax, the estate tax and the gift tax.
ASSET's insight:

ASSET will continue to work with state coalitions to find the right answers in each state.  Maryland's looking to help family businesses.  New Jersey needs to be next.  One of two states with both inheritance and estate taxes.

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