Estate Tax Indecision by Congress Could Mean Big Tax Liabilities
Nearly 15 million U.S. households—or 12.5%—would have a potential estate tax liability if Congress fails to act when the extension to the Bush tax cuts expires on Jan. 1.
Obama Proposes to Extend Bush Tax Cuts Excluding Top Earners
Plan would be for one year and exclude those families earning more than $250,000; GOP opposed, wants to extend cuts for all.
Next Up in Tax Reform Debate: Capital Gains
Senate Finance Chairman Max Baucus and House Ways and Means Chairman Dave Camp plan to hold a joint hearing Thursday to review the tax treatment of capital gains in the context of comprehensive tax reform.
Post-Election Estate Tax Fix?
Tax issues will figure prominently in the goings-on in Washington this presidential election year, with the consensus among tax specialists being that Congress is most likely to address the estate tax when it decides late this year whether to extend the Bush tax cuts.
White House’s Corporate Tax Reform Derided by Republicans, Businesses
The Obama administration has unveiled a framework for corporate tax reform that lowers rates while eliminating loopholes, but the proposal has already met with sharp criticism from Republicans and corporations for proposing a rate higher than the developed-country average.
Estate Tax Limbo Likely to End This Year
The consensus among tax specialists is that Congress is most likely to address the estate tax when it decides late this year whether to extend the Bush tax cuts.
Obama and Buffett Rule Make ‘Good Tax Politics, Not Good Tax Policy,’ Expert Says
A central focus of President Barack Obama’s State of the Union address was economic fairness, and requiring the wealthiest to pay more in taxes, but tax specialists and wealth managers say hiking taxes for the rich will do nothing to fix the tax code.