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Estate Tax Tax Reform Transfer Taxes

Estate taxes, also known as inheritance or death taxes, are taxes on an individual's right to transfer property at death.
Proskauer Rose LLP

Personal Planning Strategies - October 2021

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Act Now Before the Window of Opportunity Closes - By now you have probably heard that the House Ways and Means Committee introduced legislation a few weeks ago (see Let the Estate Tax Planning Games Begin - But Where Will...more

Akerman LLP

Draft Legislation in U.S. House of Representatives Would Dramatically Alter Estate Planning Strategies

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On September 10, 2021, the U.S. House Committee on Ways and Means released a draft of proposed legislation that, if enacted into law, would reduce the estate tax exemption and significantly limit the effectiveness of certain...more

Proskauer Rose LLP

Personal Planning Strategies - September 2021

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You have probably heard that the House Ways and Means Committee released proposals for increasing gift and estate taxes in order support legislation being advanced by the Democratic majority in Congress. ...more

Polsinelli

Impact Of President Biden’s Tax Plan On Estate Planning

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With Democratic control of the White House and Congress, there has been much speculation on what President Biden’s tax proposal will look like, as well as the likelihood that President Biden’s tax plan will be enacted into...more

Verrill

2018 Year-End Estate Planning Update

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Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more

Manatt, Phelps & Phillips, LLP

Federal Transfer Tax Exemptions Increased … Temporarily

With the passage of the Tax Cuts and Jobs Act (Reconciliation Act of 2017) on December 19, 2017 (the Act), Congress provided increased, albeit temporary, relief to taxpayers who otherwise might be subject to federal transfer...more

Dechert LLP

TAX REFORM: Federal Gift, Estate and Generation-Skipping Transfer Taxes - No Permanent Repeal, but Double Exemptions Create...

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On December 22, 2017, President Trump signed into law new tax legislation (the “2017 Tax Bill”). The 2017 Tax Bill makes sweeping changes to the U.S. tax code, including a reduction in corporate tax rates, significant changes...more

Seyfarth Shaw LLP

Tax Reform Impact On Estate Taxes

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This is the sixth issue in a planned series of alerts designed to provide an in-depth analysis on topics related to tax reform. Like all new things, new years typically welcome many changes, opportunities and new...more

Goodwin

New Estate, Gift and GST Tax Provisions in Tax Reform Legislation

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Congress has passed a major tax reform bill and it is expected to be signed into law in the next few days. This bill doubles the federal estate, gift and generation-skipping transfer tax exemptions for transfers occurring in...more

Sheppard Mullin Richter & Hampton LLP

Congress Passes Final Tax Reform Bill: U.S. Tax Reform: The Current State of Play

With the affirmative vote in the House today, both Houses of Congress have now passed a final version of the Tax Cuts and Jobs Act, clearing the legislation for President Trump’s signature. President Trump is widely expected...more

Ballard Spahr LLP

Federal Tax Reform: Initial Steps Toward Changes to Gift, Estate and Generation-Skipping Transfer Tax

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House Republicans unveiled the full text yesterday of their proposed tax legislation—titled the Tax Cuts and Jobs Act—which includes dramatic changes to the gift, estate, and generation-skipping transfer (GST) tax. ...more

Lowndes

House Republicans Release (Simplified?) Tax Reform Bill

Lowndes on

The House Republican’s tax reform bill – the Tax Cuts and Jobs Act – was released yesterday. This bill is 429 pages (this is simplifying?) and provides for extensive tax reform. ...more

Burr & Forman

Tax Reform Update: A Call for Committee Action

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On September 27, 2017, the Secretary of the Treasury, the Director of the National Economic Council, the Chair of the U.S. House Ways and Means Committee, the Chair of the U.S. Senate Finance Committee, the Speaker of the...more

McDermott Will & Emery

The Unified Framework for Tax Reform: Impact on Transfer Tax Planning for the High-Net-Worth Individual

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The Trump Administration, the House Committee on Ways and Means and the Senate Committee on Finance released their Unified Framework (Framework) for Tax Reform on September 28. There were few surprises and fewer details...more

Downey Brand LLP

Tax Law Uncertainty Should Not Delay Farming Business Succession Planning

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President Trump promised and will pursue tax reform, but Congress must agree to any proposal. For the most part, a majority vote in both houses would allow tax reform for about a decade, and at least sixty Senate votes would...more

Adler Pollock & Sheehan P.C.

The Future Of Proposed IRS § 2704 Modifications Is Uncertain

Proposed changes to Internal Revenue Code (IRC) § 2704, which would impact the valuation of transfers of family business interests at death, come at an interesting time politically given the Trump Administration’s desire to...more

Dickinson Wright

KNOWN UNKNOWNS about Federal Tax Laws and Regulations

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The new administration in Washington, supported by Republican majorities in Congress, has pledged substantial changes to federal tax laws and regulations. One change may - or may not - be the complete elimination of federal...more

Holland & Knight LLP

Potential Transfer Tax Reform and 2016 Year-End Tax Planning Considerations

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With the upcoming Republican control of the executive and legislative branches, tax changes are certain to occur. As articulated thus far, President-Elect Donald Trump has proposed the elimination of the federal estate tax in...more

Butler Snow LLP

Is Tax Reform On the Horizon?

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2017 will bring Republican control to D.C. It will also potentially bring tax reform. Both President Elect Donald Trump and House Republicans have proposed sweeping changes to the U.S. tax system, which we have briefly...more

Perkins Coie

What Proposed Tax Plans by Trump Administration and House Republicans Mean for Personal Planning

Perkins Coie on

The election of Donald Trump and Republican majorities in U.S. Congress make the future of the federal transfer tax system (gift, estate and generation-skipping transfer (GST) taxes) uncertain. President-elect Trump and...more

McGuireWoods LLP

Estate Tax Changes Past, Present and Future

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I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Pierce Atwood LLP

Sweeping Maine Tax Reform Proposal Announced

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A bipartisan group of 11 legislators have proposed an overhaul of Maine’s tax system, including major changes to the individual and corporate income tax, property tax, sales tax, and estate tax. ...more

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