More On Tax Planningfrom The Advisor's Professional Library
- Selected Provisions of the American Taxpayer Relief Act of 2012 The experts of Tax Facts have produced this comprehensive analysis of selected provisions of the American Taxpayer Relief Act of 2012 (the Act) to provide the most up-to-date information to our subscribers. This supplement analyzes important changes to the tax code with emphasis on how these developments impact Tax Facts’ major areas of focus: Employee Benefits, Insurance, and Investments.
- Annuities: Estate Tax The value of certain types of annuities may be included in an estate’s value. Understanding the intricacies of these inclusions is a critically important aspect of estate planning.
A report from Reuters noted on Thursday that the mutual fund giant, Vanguard Group, with $1.5 trillion in U.S. assets in mutual funds, with has withdrawn its SEC application for a line of municipal bond ETFs. The report says that the filings for short-, intermediate- and “a long-term muni ETF,” indicate that Vanguard “has no plans to proceed with the offering.”
Amy Chain, a Vanguard spokeswoman, said in an e-mail message to AdvisorOne, “We are deferring the funds' launch for an indefinite period of time (and thus are required to withdraw the application). We believe that this delay is prudent given the high level of volatility in the municipal bond market, which began in November 2010 and continues today. This volatility could impede the funds’ abilities to tightly track their respective benchmarks, deliver on the funds’ objectives, and meet shareholders’ expectations.”
The Municipal bond market has been in turmoil for months as the effects of the financial crisis affect state and local municipalities’ collections of tax revenues. Huge state and municipal pension fund liabilities are also affecting the muni markets.