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Fiscal Cliff › American Taxpayer Relief Act

Fiscal Cliff is a non-technical economic term used popularly to describe a series of tax increases and mandatory budget cuts set to occur at the beginning of 2013.  The term "cliff" refers to the... more +
Fiscal Cliff is a non-technical economic term used popularly to describe a series of tax increases and mandatory budget cuts set to occur at the beginning of 2013.  The term "cliff" refers to the idea that such increases and cuts would be catastrophic to the fragile economy and consequently, force the economy off of a metaphorical cliff. less -
Snell & Wilmer

Estate Planning in 2014

Snell & Wilmer on

Exemptions and Rates - On Jan. 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 (ATRA) into effect to avoid the “fiscal cliff,” setting the unified Federal gift and estate tax exemption at $5...more

Davis Wright Tremaine LLP

Estate, Gift, and GST Taxes in 2013: American Taxpayer Relief Act of 2012 and Other News (Oregon)

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The American Taxpayer Relief Act of 2012 (the “Act”) was signed into law on Jan. 2, 2013, avoiding dramatic changes to tax exemptions and tax rates on transfers subject to federal estate, gift, and generation-skipping...more

K&L Gates LLP

Health Care Issues Poised to Take Front and Center in the 113th Congress

K&L Gates LLP on

Health care issues dominated much of President Obama’s first term. Even after Congress passed the Patient Protection and Affordable Care Act (“PPACA” or “health reform law”) (Pub. L. 111-148, 111-152), the Supreme Court...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - February/March 2013: Fiscal cliff deal brings some certainty to estate planning

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Congress’s eleventh-hour deal to avert the “fiscal cliff” produced the American Taxpayer Relief Act of 2012 (ATRA). The act focuses on income taxes, but it also provides much-needed certainty for people engaged in estate...more

McNees Wallace & Nurick LLC

Auto Notes -- February 2013

McNees Wallace & Nurick LLC on

In This Issue: "Insuring Your Dealership: Do I Really Need Garage Liability and Garagekeeper's Insurance?" and "The American Taxpayer Relief Act"...more

Poyner Spruill LLP

Termination of Credit Shelter Trusts

Poyner Spruill LLP on

As discussed in a previous article, due to higher estate tax exemption, certain trusts previously established for purposes of avoiding estate taxes under the estate plan of a predeceased spouse may no longer be necessary in...more

Poyner Spruill LLP

Estate Planning After the American Taxpayer Relief Act

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Congress adopted the American Taxpayer Relief Act (the Act), effective January 1, 2013. The Act made permanent tax rates and exemptions for estate, gift, and generation-skipping transfer (GST) taxes. Prior laws incorporated...more

Baker Donelson

Estate Planning Considerations: Documentation and Peace of Mind

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With the introduction of the American Taxpayer Relief Act of 2012 (Act), the world of estate planning has been injected with a dose of certainty after more than 10 years of uncertainty as to federal estate, gift and...more

Pullman & Comley, LLC

Alert: Estate Planning - January 2013

Pullman & Comley, LLC on

For the first time in more than a decade, clients and advisors can plan their estates with a significant degree of certainty. The new tax law passed by Congress on January 1, 2013 and signed into law by President Obama...more

King & Spalding

Tax Reform and the Oil and Gas Industry by Michael A. Andrews

King & Spalding on

A great deal of attention been focused on the generous tax incentives for the renewable energy industry that were added to the "fiscal cliff " legislation during the closing hours of negotiations. Those provisions have a net...more

King & Spalding

American Taxpayer Relief Act of 2012: Expanded Roth Conversions and Other Benefit and Retirement Related Provisions

King & Spalding on

On January 2 , 2013, President Obama signed the American Taxpayer Relief Act of 2012 (H.R. 8) (the “Relief Act”) into law. While the principal intention of the Relief Act was to avert the key elements of the “fiscal cliff” by...more

Polsinelli

American Taxpayer Relief Act Of 2012 - The Effects On Charitable Giving

Polsinelli on

In This Issue: - Major Tax Provisions Relating to Charitable Organizations - Other Law Changes Affecting Charitable Contributions - Excerpt from Major Tax Provisions Relating to Charitable Organizations: The...more

K&L Gates LLP

Tax Reform – The Next Installment: Reforming the Taxation of Financial Instruments

K&L Gates LLP on

After the fiscal cliff deal failed to include a framework for comprehensive tax reform, many in Washington predicted that the momentum for tax reform would wither away. Although Congress has many important issues on its...more

Morgan Lewis

Fiscal Cliff Legislation Expands In-Plan Roth Conversion Opportunities

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American Taxpayer Relief Act extends the existing, limited in-plan Roth conversion option to all amounts under plans that allow elective deferrals, including those amounts not yet eligible for distribution. The American...more

Dickinson Wright

Gaming Legal News - January 17, 2013 • Volume 6, Number 2

Dickinson Wright on

In This Issue: - I-GAMING IN THE UNITED STATES VERSION 2013: BACK TO THE STATES? Optimism had inched higher that the United States would shift its i-gaming policy from a prohibitory approach to allowing some form of...more

McCarter & English, LLP

2013 Estate Planning Update

McCarter & English, LLP on

As 2012 drew to a close, your estate planning attorney's attention was diverted from the ball drop in Times Square to whether Congress would drop the ball with respect to the fiscal cliff. Congress, however, passed the...more

Morrison & Foerster LLP

Tax Talk -- Volume 5, No. 4 -- January 2013

Morrison & Foerster LLP on

In This Issue: Fiscal Cliff Diving a.k.a. American Taxpayer Relief Act; CoCo Developments; Tax Effect of Money Market Fund Proposals; IRS Issues Final Regulations on Publicly Traded Property; Assessment of Income from...more

Dechert LLP

What the “Fiscal Cliff” Resolution Means for Personal Estate Planning

Dechert LLP on

For the first time in 12 years, the estate, gift and generation-skipping transfer tax law does not have a built-in expiration date in the United States. Congress has exempted all estates below approximately $5 million ($10...more

JD Supra Perspectives

The Corporate Law Report: First-to-File Patents, Hiring for Cultural Fit, Roth Conversions Post-Fiscal Cliff, and Global Corporate...

JD Supra Perspectives on

Watch our latest Corporate Law Report for: - a speed round of need-to-know employment law advisories covering workplace secret recordings, the EEOC's strategic enforcement plan, the NLRB in Obama's second term, and more; -...more

Saul Ewing Arnstein & Lehr LLP

Fiscal Cliff Deal Preserves Enhanced Conservation Easement Tax Benefits

Saul Ewing Arnstein & Lehr LLP on

Conservation easements are an effective tool for tax and estate planning and there are significant tax benefits to implementing them in 2013....more

Davis Wright Tremaine LLP

Transit Benefit Retroactive Relief Requires Immediate Employer Action

Davis Wright Tremaine LLP on

The American Taxpayer Relief Act (“ATRA”) of 2013 increased the monthly transit benefit exclusion from $125 to $240 per employee, retroactive to Jan. 1, 2012....more

Snell & Wilmer

Fiscal Cliff Legislation Expands In-Plan Roth Conversions for Qualified Plans

Snell & Wilmer on

On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “Act”), more commonly known as the fiscal cliff legislation. Among other things, the Act amended the tax code to remove some of...more

Polsinelli

Congress Approves The American Taxpayer Relief Act Of 2012, Preventing "Fiscal Cliff"

Polsinelli on

After much contention,Congress passed the American Taxpayer Relief Act of 2012, and President Obama signed the legislation on January 2, 2013. The Act avoids automatic sunset provisions that were scheduled to take effect...more

Davis Wright Tremaine LLP

Roth Conversion Opportunities Expand, But Practical Questions Remain

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The recent “fiscal cliff” tax law, the American Taxpayer Relief Act (ATRA), includes a provision effective Jan. 1, 2013 that greatly expands the ability of plan participants to convert pre-tax plan accounts to after-tax Roth...more

Proskauer Rose LLP

American Taxpayer Relief Act Affects Mass Transit Benefits and Other Employee Benefits

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On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 ("ATRA") into law. ATRA, adopted as an alternative to stepping over the "fiscal cliff," preserves most of the Bush-era tax cuts and...more

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