Changes To The Federal Estate, Gift and Generation-Skipping Transfer Taxes For 2011 And 2012

By Trusts, Estates & Nonprofit Organizations Group, Morrison & Foerster LLP On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Authorization Act ( H.R. 4853 , "the Act"). The Act affects a wide range...

Year-End Legislation Extends Key Provisions for Businesses, Provides 100 Percent Expensing for Certain Assets and Enacts New Foreign Procurement Excise Tax

By Robert A. Clary II , David G. Noren, James A. Riedy PC and Rachel E. Aaronson As part of legislation enacted at the end of 2010, the U.S. Congress extended several beneficial tax provisions for businesses, including the research credit, active financing exception under Subpart F and look-through rule...

Changes To The Federal Estate, Gift and Generation-Skipping Transfer Taxes For 2011 And 2012

By Trusts, Estates & Nonprofit Organizations Group, Morrison & Foerster LLP On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Authorization Act ( H.R. 4853 , "the Act"). The Act affects a wide range of taxes...

Pepper Hamilton LLP: New Bonus Depreciation Guidance in Rev. Proc. 2011-26 Offers Opportunities for Taxpayers

By Ellen McElroy & Anthony J. Balden The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, 1 signed into law last December, temporarily increases bonus depreciation deductions under Section 168(k) from 50 percent to 100 percent. This immediate...

McNees Wallace & Nurick LLC: Estate Planning – Portability Provisions of TRA 2010

By Frank C. Chesters The "Tax Relief, Unemployment Insurance Authorization, and Job Creation Act of 2010" was enacted December 17, 2010 and is referred to as "TRA 2010." For calendar years 2011 and 2012, TRA 2010 reunified the estate, gift and generation-skipping taxes with a...