ASSET a Target of the IRS in Ohio? Estate Tax Coalition Inquiry
Washington DC – In May of 2011 ASSET received a letter from the IRS in Cincinnati Ohio asking about our activities. At the time we did not think much of the inquiry because we were relatively new to the non-profit 501(c) 4 community. Today, we believe we may have been targeted. We are making inquiries. [...]
Estate Tax and College Students? We Better Wake Up
With Congress failing to come to a budget compromise over and over again, the American people are becoming frustrated. Young people, in particular, begin to feel that their government is not working for them and decide to block it out. Young people cannot afford to not care. Literally. As my colleagues and I begin to [...]
Summary of Estate Tax References in JCT Report to Congress
Below is a summary of the estate tax references in the index of the 586 page report from the JCT to the Ways & Means Committee for the Tax Reform Working Groups. Summary Estate Tax References from Index in JCT Report to Ways & Means on Working Group Submission Index Group Summary 14 Overview of [...]
Estate Tax News: Back to the Future Is Not Good Tax Policy
In the blockbuster movie “Back to the Future” the star uses a device called a “flux capacitor” to travel back in time. Today the President uses his version of the flux capacitor also known as his 2013 budget proposal where he’s calling for an increase in the estate tax to the 2009 level of 45% [...]
In Estate Tax News ASSET Offers The Possible
The ASSET change in how an estate tax is collected preserves U.S. jobs, eliminates death as a taxable occurrence and makes it more attractive to pay an estate tax than to pay to avoid it. From 1960 to 2009, the estate and gift tax raised just 1.2% of all IRS revenue, but has caused a [...]
ASSET Estate Tax Issue Brief
Estate Tax ASSET Issue Brief Handout 2-22-13 rev b ASSET proposes a change in the estate tax collection method that preserves jobs and harnesses private capital while maintaining revenue neutrality. Issue Find a way for the Treasury to collect the same revenue generated through the estate tax without continuing the status quo, in which Americans [...]
IRS Demands Bank of America, Ford, McDonalds Pay 40% Estate Tax
Imagine…Bank of America, Ford Motor Company and McDonalds forced to pay 40% of their value in estate tax every 40 or 50 years. The army of lobbyists that would show up on the steps of the U.S. Capitol. The outrage American people would have at our government collecting such a tax from companies just because enough time [...]
Estate Tax: What just happened at the fiscal cliff and how does ASSET fit in?
At the 12th hour, not even the 11th, Congress passed and the President signed HR8, the Taxpayer Relief Act that effectively raised the estate tax to a rate of 40% and kept the exemption level of $5 million but indexed it. Small business and farms are OK then, right? Not really. Death is not an economic event. [...]
Washington Post Opinion Piece on Estate Tax…Making the Case for ASSET?
The Washington Post published an editorial piece titled “Democratic Senators take issue with the estate tax” on 12/11/2012 and ASSET could not agree more that now is the time to change the estate tax. But even under the Administration’s plan, we can correct the course of action that the estate tax makes where very rich [...]
Cliff Diving? A Life Preserver Preserver For Congress on Estate Tax
Unlike the famous La Quebrada Cliff Divers in Acapulco Mexico who choose to dive forty meters headfirst into raging ocean tides with a depth of between six and twelve feet, small businesses and farms are being forced, if not pushed, off a financial cliff that was never intended. The stories I read daily about the [...]