Once Removed Episode 19: The Step-Transaction Doctrine and the Case of Smaldino
Once Removed Episode 18: The Reciprocal Trust Doctrine
Once Removed Episode 16: Gift and Estate Tax, Inflation Adjustments for 2024
Once Removed Episode 17: Annual Gifting to Individuals: Options, Opportunities and Pitfalls
Taking the Sting Out of Death Taxes with Dylan Metzner, Jones & Keller
Gift Tax Basics
NGE On Demand: GRAT Trusts with Eric Mann
To Give or Not to Give: Considerations for Year-End Gifting
ATTENTION ALL CADETS!
Certain revenue-raising proposals that would have affected the transfer tax regime and estate planning of high-net-worth individuals and trusts, which were included in the prior proposed bill in the House of Representatives,...more
The House Ways and Means Committee recently proposed sweeping changes to the tax code that would significantly impair fundamental wealth transfer planning techniques. We recommend that you consider taking action now....more
What You Should Know •The House Ways and Means Committee has approved the tax provisions of President Biden’s Build Back Better Act, a significant first step towards passage. •If passed as drafted, the proposed...more
The U.S. House Committee on Ways and Means’ tax proposals would significantly impact estate planning for high net worth individuals if enacted. Gift, estate and GST exemption amounts would be decreased; grantor trusts would...more
In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more
What you need to know: On September 13, 2021, the House Ways and Means Committee released its proposed tax plan to fund President Biden’s $3.5 trillion “Build Back Better” social and economic spending package. If enacted as...more
The U.S. House Ways and Means Committee released proposed budget reconciliation legislation on September 13, 2021. The bill still must complete many steps in the legislative process – including passage by the full House of...more
Democrats recently unveiled the Build Back Better Act, which, if passed, would bring significant changes to the Tax Code and would have a drastic impact on common estate planning techniques, including gifts to trusts. The...more
Last week the House Ways and Means Committee released a draft of proposed tax law changes to include in a reconciliation bill. While it is uncertain whether any of these proposals will be adopted – and if so in what form –...more
As many people are aware, Congress is considering changes to the federal tax code to support President Biden’s Build Back Better spending plan. As of this writing, on September 22, 2021, no bill has been enacted....more
Last week, the House Ways and Means Committee released proposed legislation affecting numerous transfer and income tax provisions of the Code. These changes, if enacted, will have a significant impact on estate planning and...more
On September 13, 2021, the U.S. House of Representatives Ways and Means Committee released draft budget reconciliation legislation proposing a number of significant tax changes for businesses and for individuals....more
On September 13, the House Ways & Means Committee proposed new tax provisions as part of the Build Back Better Act. The proposal includes many substantial tax changes that would affect personal income tax and business tax...more
On Sunday, September 12, 2021, the House Ways & Means Committee (the "Committee") released draft legislation as part of Congress' ongoing $3.5 trillion budget reconciliation process. The legislation, as approved by the...more
The House of Representatives Joint Committee on Taxation released its highly anticipated synopsis of the colloquial “tax bill.” Bill JCX-43-21 is the latest piece of legislation in a flurry of recent legislative activity...more
House Democrats recently released additional legislative proposals that, if passed, would affect several commonly used estate planning techniques. Among those proposals are three that would significantly impact some of the...more
Recent news stories have been published about two bills introduced in the Senate that, if enacted, could have a significant impact on many estate plans. These bills include proposed changes that many estate planning...more
Advance planning in light of the proposed tax law changes included in the For the 99.5 Percent Act, STEP Act and the Biden Administration’s Green Book. Proposed tax law changes introduced this year provide valuable insight...more
This article is part of a series discussing how the American Families Plan might affect real estate investments. Previous articles discussed how the American Families Plan proposes eliminating the stepped-up basis for many...more
This article part of a series discussing how the American Families Plan might affect real estate investments. A previous article discussed how the American Families Plan proposes to change how long-term capital gains and...more
Vermont senator Bernie Sanders (D) has introduced legislation that would require more estates to pay estate tax and that raises the amounts they would pay. Another proposed law would eliminate the step-up in basis that...more
On March 25, 2021, Senator Bernie Sanders introduced legislation called “For the 99.5% Act.” This bill is aimed at the fortunes of the top 0.5% of wealthy Americans. ...more
The final version of the proposed Tax Cuts and Jobs Act (the “Act”) was released on December 15, 2017. This legislation, unless amended again, is expected to be voted on this week in the U.S. House of Representatives and the...more
Congress released the "Tax Cuts and Jobs Act" on late Friday evening, Dec. 15, 2017. This version of the bill is the result of a conference committee process to marry the different bills previously passed by the U.S. House of...more
As we approach the end of the year, we thought you would find it useful to have the following summary of recent developments and updates that may affect your trust and estate planning....more