ASSET Included in JCT/Ways & Means Tax Reform Working Group Report
Washington DC – In estate tax news the Americans Standing for the Simplification of the Estate Tax (ASSET) commends Chairman Dave Camp & the Ways & Means Committee and the Joint Committee on Taxation on the release of their Joint Committee on Taxation Tax Reform Working Group Report. The ASSET plan for change in estate tax [...]
Estate Tax News: Scalpel vs. Hatchet: American Job Creators Need Better Tax Tools
Washington DC – by Rob Smith, ASSET, Americans Standing for the Simplification of the Estate Tax At a recent Senate hearing, Finance Chairman Senator Max Baucus made illuminating statements that echo the calls for tax reform in the House of Representatives, while laying out goals for the Senate Finance Committee for 2013. Senator Baucus wrote, [...]
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 [...]
On the Hill: Estate Tax in a Divided Congress…the Possible
Washington DC – Jack Fitzgerald, business owner and founder of Americans Standing for the Simplification of the Estate tax kicked off a legislative education series for the Center for Freedom and Prosperity for the 113thCongress by leading a briefing on Capitol Hill today about the ASSET solution to the estate tax. “Leave it to [...]
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. [...]
Don’t Leave Just Yet, Congress
In many respects Washington is a company town, but the company in this town is the U.S. Government, and in particular, the Congress. We are all so tired of the advertisements by the potential employees of the company, our elected officials. Personally I am looking forward to hearing more commercials about side effects from prescription [...]
Countdown to “Chaos” on Estate Tax
Americans Standing for the Simplification of the Estate Tax (ASSET) announces a “Countdown to Chaos” as we stand just 180 days before the fiscal cliff when the estate tax increases exponentially. “There are 180 days left, reminding me of 180 degree u-turns. It is time for Congress to come together and start over when it [...]
Kill the “Death Tax” but keep the Estate ASSET Tax
A crisis of tax policy is expected at the end of this year, when a bundle of deferred decisions and bills all come due at once. Tax writers, while grappling with the federal deficit, must also confront a slew of scheduled tax rate increases, as the Bush tax cuts and the payroll tax cuts expire [...]
ASSET Commends Congressional Hearing on Estate Tax Impact on Small Businesses, Farms and Ranches
In response to the announcement by the U.S. House Small Business Committee that it will hold a hearing on the estate tax on May 31, Jack Fitzgerald, founder of Americans Standing for the Simplification of the Estate Tax (ASSET), issued the following statement: “Our coalition is very pleased that the House Small Business Committee has [...]