Tracking Report S 3533
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Bill Tracking Report
111th Congress, 2nd Session
2010 Bill Tracking S. 3533;...
2010 - The year of there wasn't an estate tax, there could be an estate tax, or you choose if there will be an estate tax (nice thoughtful tax law policy there Washington ... not).
However, we now do have a date of when you must elect to go with...
Wills and trusts containing formula clauses that use phrases or terms
not in effect during 2010 (i.e. language
tied to the federal estate tax) might not work as intended. Many states
have introduced legislation to address this problem, including: ...
People with significant assets are currently enjoying an extraordinary opportunity to transfer more wealth to loved ones, estate tax and gift tax-free. But you know what they say: The IRS giveth and the IRS taketh away. December 31, 2012 is a taketh-away...
A new estate tax reform solution has been proposed by Sen. Bernard Sanders, Tom Harkin and Sheldon Whitehouse billed the Responsible Estate Tax Act. According to Steve Leimberg, this newest estate tax proposal is structured as follows:
The last issue of the Oast & Hook News addressed the estate
tax laws that are effective for 2010. This issue of the Oast and Hook
News will explore the issue of carryover basis. In previous years, the
beneficiaries of estates received a great...
written before about how 2010 is "The Year Without An Estate Tax" . You can
read my past posts, but to sum up, in 2009 the estate tax exemption, that is the
amount one could die with before being subject to the tax was $3.5 million...
The IRS just released Notice 2011-76 that extends the filing deadline for Forms 706 and 8939 for estates of decedents dying in 2010.
The Notice provides that large estates of people who died in 2010 will
have until early next year to file various...
President Obama’s $2.9 trillion budget for the 2015 fiscal year includes several tax increases, particularly on the wealthy, to pay for increased spending without increasing the deficit. One increase that will not be widely reported pertains to...
The new estate tax legislation proposed by Sen. Reid (D. NV) contains some pleasant surprises for wealthier Individuals.
First, as expected, it proposes to raise the estate tax exemption amount to $5 million per person with a maximum 35% estate tax...
The Wall Street Journal reports that the Senate is sending out legislation to allow estates of people who died in 2010 to choose EITHER the 2010 1022 basis election OR the 2011 estate tax laws, which are currently proposed to be a $5 million exemption...
IR-2011-91 (emphasis added):
WASHINGTON - The Internal Revenue Service announced today that large
estates of people who died in 2010 will have until early next year to
file various required returns and pay any estate taxes due. In addition,
By John G. Farinacci, Esq.
Ruskin Moscou Faltischek, P.C.
We know that estate taxes are to be paid in the manner of a testator's choosing, but if the testator fails to make that choice, then estate taxes are "equitably apportioned among...
In a case that began with a claim for a refund of estate taxes paid, Judge Barbara S. Jones of the Southern District of New York ruled that the Defense of Marriage Act (DOMA) is unconstitutional under the Equal Protection Clause of the 5th Amendment....
The failure of Congress
in allowing the federal estate tax exemption to expire in 2010 has created
chaos with many client estate plans. While the unlimited estate tax exemption
has been a windfall for beneficiaries of wealthy individuals who pass away...