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Fiscal Cliff › Capital Gains › 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 -
Polsinelli

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

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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

Mintz

Fiscal Cliff Legislation Extends Tax Incentive to Invest in Small Businesses

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As a result of the recent “fiscal cliff” legislation, otherwise known as the American Taxpayer Relief Act of 2012 (2012 Tax Act), many individual investors are expecting future tax increases, either in the form of higher...more

Spilman Thomas & Battle, PLLC

Estate Planning & Federal Tax Update - Winter 2013

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With the American Taxpayer Relief Act of 2012 (the “ATRA ”) passed and the fiscal cliff safely averted, the time has come to turn your attention to your estate plan. What Did the ATRA Accomplish? The fiscal cliff...more

Butler Snow LLP

The Fiscal Cliff Deal - What does it mean for you and your business?

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In the early morning hours of January 1, 2013, the Senate approved the American Taxpayer Relief Act of 2012 (the “Act”) by a vote of 89-8. Less than 24 hours later, the House of Representatives also approved the Act by a vote...more

Morrison & Foerster LLP

Recent Changes Allow Tax-Free Receipt of up to $10 Million in Gain from the Sale of Small Business Stock

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One silver lining to the American Taxpayer Relief Act of 2012 (“ATRA”) is that it extended the 100% exclusion for capital gain on qualified small business stock (“QSBS”) acquired between 2010 and 2011 to include stock...more

Akerman LLP

International Tax Impact of American Taxpayer Relief Act

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On January 1, 2013, the Senate passed the American Taxpayer Relief Act, H.R. 8 (the "Bill"), by a vote of 89 to 8. Later that same day, the House of Representatives approved the Bill by a vote of 257 to 167. On January 2,...more

Katten Muchin Rosenman LLP

Estate Planning After the Fiscal Cliff Deal

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Now that a deal averting the fiscal cliff has finally been reached, many of the tax and planning issues that have been mired in uncertainty for the past two years (and even longer in some cases) may be resolved. Numerous tax...more

Foley Hoag LLP

Congress Extends the 100% Tax Exemption for Gain on Certain Qualified Small Business Stock, With Retroactive Effect, Through 2013

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On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “Act”). Among its provisions, the Act extends a tax benefit whereby capital gains from the sale or exchange of certain...more

Perkins Coie

Investment Window For Capital Gains Tax Exclusion For Certain New Investments In Small Businesses Extended To December 31, 2013

Perkins Coie on

On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the Act). Among other provisions, the Act provides that the 100% exclusion from gross income of certain capital gains from sales...more

Poyner Spruill LLP

How Will the American Taxpayer Relief Act of 2012 Affect You - Details of Legislation passed by Congress to Avoid Fiscal Cliff

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On January 2, President Barack Obama signed into law the American Taxpayer Relief Act of 2012, H.R. 8 (ATRA), preserving many of the key tax provisions passed during the George W. Bush presidency, which were scheduled to...more

Baker Donelson

Congress Extends Exclusion for Investors in Qualified Small Businesses

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Among the taxpayer-favorable aspects of the American Taxpayer Relief Act of 2012 (Act), the 100 percent exclusion from gross income of gain on the sale of Qualified Small Business Stock (QSBS), provided for in section 1202 of...more

McNees Wallace & Nurick LLC

McNees Insights - Asset Planning and Federal Taxation - Winter 2013

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2012 Tax Act - The American Taxpayer Relief Act of 2012 (the “Act”) was signed into law on January 1, 2013 to avert the tax law changes that were one part of the “fiscal cliff” facing our country’s economy (the other...more

Patterson Belknap Webb & Tyler LLP

American Taxpayer Relief Act of 2012: Tax Implications for U.S. Taxpayers Living Abroad

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Although the American Taxpayer Relief Act of 2012 (“Fiscal Cliff Legislation”) passed last week does not contain any sweeping changes targeted at U.S. taxpayers living abroad, a number of provisions are relevant to such U.S....more

Dechert LLP

American Taxpayer Relief Act of 2012 Approved by Congress and Signed by the President

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Summary - President Obama on January 2, 2013 signed into law the American Taxpayer Relief Act of 2012 (the “Act”). The Act extends certain tax rates, tax credits, and other provisions previously enacted by other tax...more

Ballard Spahr LLP

How the New ‘Fiscal Cliff’ Law Affects the Municipal Bond Market

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The American Taxpayer Relief Act of 2012 (the Act), passed by the Senate and the House and Representatives on New Year’s Day and signed by the President on January 2, 2013, includes several direct and indirect consequences...more

McDermott Will & Emery

Congress Avoids the Fiscal ‘Cliff’—Now What?

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The new federal tax bill establishes permanent income, estate, gift and generation-skipping transfer tax provisions that present additional planning opportunities for 2013 and beyond. ...more

Baker Donelson

The American Taxpayer Relief Act of 2012: Some Tax Certainty in an Uncertain World

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On January 1, 2013, Congress averted the fiscal cliff with the passage of the American Taxpayer Relief Act of 2012 (Act), which was enacted when President Obama signed the Act on January 2, 2013. The Act provides a welcome...more

K&L Gates LLP

Fiscal Cliff II: What’s Next For Tax Reform?

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On January 1, 2013, the Senate and House of Representatives passed the American Taxpayer Relief Act of 2012 (“ATRA”), signed into law by President Obama on January 2. ATRA averts the “fiscal cliff” by making permanent the...more

Eversheds Sutherland (US) LLP

Legal Alert: The Cliff-Hanger (Chapter One) is Over: Highlights of the American Taxpayer Relief Act of 2012

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On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the Act), effective as of January 1, 2013. In general, the Act made permanent for most taxpayers the tax rate cuts first enacted...more

McDermott Will & Emery

‘Fiscal Cliff’ Legislation Temporarily Extends Key Provisions for Businesses

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As part of legislation enacted in early 2013 to avert the so-called “fiscal cliff,” Congress temporarily extended several beneficial tax provisions for businesses, including the research credit, the active financing exception...more

Morrison & Foerster LLP

American Taxpayer Relief Act of 2012 Finally Settles Individual Federal Income Tax Rates for 2013 and Beyond

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On January 1, 2013, the Senate and the House of Representatives passed the American Taxpayer Relief Act of 2012 (“ATRA”), averting the so-called “fiscal cliff.” The legislation, which was signed by President Obama on January...more

Troutman Pepper

Fiscal Cliff Tax Changes

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On New Year’s Day 2013, the “American Taxpayer Relief Act of 2012” (the Act) was enacted to avoid the impact of automatic “fiscal cliff” tax increases. The Act, effective January 1, 2013, retains and makes permanent the...more

Holland & Knight LLP

The American Taxpayer Relief Act of 2012: What It Means for You

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In the final hour of January 1, 2013, Congress passed The American Taxpayer Relief Act of 2012 (the "Act"), which in part addressed the dramatic sunset of favorable federal estate, gift and generation-skipping tax exemption...more

Saul Ewing LLP

Fiscal cliff avoided — what it means for you

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While most of us were celebrating the new year, members of the U.S. House and Senate were trying to prevent a fall over the dreaded "fiscal cliff," the combination of automatic tax increases and automatic reductions in...more

Troutman Pepper

American Taxpayer Relief Act Of 2012 Extends Temporarily Full Exclusion From Gross Income Of Gain From Qualified Small Business...

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On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (H.R. 8) (the Act) to avert certain tax increases set to take effect in 2013. The Act included, among many other provisions, an...more

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