The campaign to repeal the estate tax: What a splendid little war it was!

Article Abstract:

The author discusses the campaign in Congress to repeal the estate tax following the 2000 national elections. Topics include the debate over repeal and relief, prospects of repeal, and the possible tightening up of estate and gift tax throughout the decade.

Analysis, Tax reform, Gift tax

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Still debating the prospects of estate tax repeal

Article Abstract:

The author discusses whether the Economic Growth and Tax Relief Reconciliation Act of 2001 actually repeals the federal estate tax in 2010, since the law reinstates the tax in 2011. Elements of the Act are outlined.

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Legislative proposals affecting closely held businesses

Article Abstract:

Congress has been unable to agree on any significant tax changes in 1996, but both Bob Dole and Bill Clinton are attempting to offer estate tax relief to people transferring family-owned business enterprises. Dole's plan would expand the exclusion on transfer taxes for family owned businesses, assuming certain conditions of ownership and valuation are met. The Clinton plan would restructure both the interest rate and time for payment of taxes on the transfer of family-owned business, resulting in a means of deferring all transfer taxes on family owned businesses valued at less than $2.5 million at 2% interest.

Taxation, Close corporations, Closely held corporations, Family-owned business enterprises, Family-owned businesses

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