Latest Updates: News, Issues, Announcements, Webcasts, Whitepapers, and More
My Estate Tax Experience
June 13, 2018 My father started an aerospace component manufacturing business March 31, 1961 in Maywood, California. He started it by himself investing $7,500 dollars in the business. He hired one person. He struggled for 10 years before he finally made a profit. His...
Why White Castle Supports Repealing the Death Tax
As a family owned business for 97 years now, White Castle has learned a lot about what it takes to create an enterprise that’s sustainable and capable of nourishing our team members, and the communities where we live, work and raise our families. Along the way, not...
Family Operating 100 Hardware Stores
A family operating 100 hardware stores in the Midwest had to sell the business to a private equity firm in the 3rd generation of the family businesses. The family had already endured 2 generations of paying the estate tax and realized they could not survive another....
More Than One Bill in Tax Cut 2.0 Package
House Ways and Means Committee Chairman Kevin Brady (R-Texas) said that tax-cut legislation he hopes to unveil in August will include a package of bills, the centerpiece of which will be a proposal to make some individual and business tax cuts permanent. "I don't see...
Chairman Would Like The House Vote In July 2018
Chairman Kevin Brady has indicated that he would like the House to vote in July, on making all individual tax cuts permanent, which were included in last year’s tax bill. This would include the doubling of the lifetime exemption for gift, estate and...
State Death Tax Chart Update July 9, 2018
Revised July 9, 2018 PATG State Death Tax Chart - July 9, 2018 This chart is maintained for the Policy and Taxation Group Website and is updated regularly. Any comments on the chart or new developments that should be reflected on the chart may be sent to...
Chairman Brady Hopes to Have New Tax Bill by August to Pass in September or October
Politico: MARK YOUR CALENDARS: Might there be another tax vote in Congress around the time fall rolls in? House Ways and Means Chairman Kevin Brady said on Tuesday that he hopes the GOP can have a new tax bill introduced by the time Congress leaves for its August...
The Politics Of It All. Minneapolis Luncheon and Discussion
TAX POLICY: THE POLITICS OF IT ALL Last year was a historic year for tax reform with the "Tax Cuts and Jobs Act of 2017". Families and their businesses were helped and hurt at the same time. Over the years, tax law has changed many times due to various factors; wars,...
White House Plans to Release Phase 2 Tax Package by Summer’s End
I wanted to share the below that was published by Tax Notes on Friday, May 25th, 2018. The White House is working with House and Senate tax writers to draft a second phase of tax cuts, with the goal of unveiling a legislative package before the summer is out, a top...
Family Businesses; Jobs, Economic Growth and Charitable Giving
Policy And Taxation Group Visits The Hill May 2018
Photos from a recent visit to The Hill by Policy And Taxation Group to talk about the estate tax and the impact on family businesses.
Jobs and Opportunity: Legislative Options to Address the Jobs Gap
The Honorable Adrian Smith U.S. Congressman, Third District of Nebraska Chairman, House Ways and Means Human Resources Subcommittee 1102 Longworth House Office Building Washington, DC 20515 Dear Chairman Smith, I write to you on behalf of the Policy and Taxation...
Family Businesses – Jobs, Economic Activity and Charity
Family Businesses in the United States Giving by Families; 2017 Individuals comprised 72% of giving; Corporation’s comprise 5% of giving (2) IRS Statistics of Income (SOI) data indicates that from 2003 to 2013 itemized contributions grew 40% for households with income...
Estate Tax Repeal And Impact Discussion
Policy & Taxation Group invites you to attend a reception and discussion hosted by Don and Greg Root. Last year was a historic year for tax reform with the "Tax Cuts and Jobs Act of 2017". Families and their businesses were simultaneously helped and hurt. Over the...
HR 5422 Death Tax Repeal Bill Introduced
As you know, with Rep. Kristi Noem (R-SD) running for Governor of South Dakota, we need a new champion for our issue in the House. To that end, House Ways and Means Committee Chairman Kevin Brady (R-TX) has tapped Rep. Jason Smith (R-MO) to continue leading the fight...
Update and Extend Earlier Estimates of Proposals to Modify The Estate Tax
Update and Extend Earlier Estimates of Proposals to Modify The Estate, Gift and Generation Skipping Transfer Taxes In this memorandum we update and extend our earlier estimates of three (3) proposals to modify the existing estate, gift and generation skipping transfer...
Individual Tax Cut Extension to Get Vote This Year, Ryan Says
By Anna Edgerton; Bloomberg BNA The House will hold a vote this year to make individual tax cuts permanent, according to House Speaker Paul Ryan, even though the effort is unlikely to become law during this Congress. The speaker's comments signal the GOP is plowing...
Get Estate Tax Relief Updates
Since it is possible that additional estate tax "relief" may be possible this year, and unlikely that we'll see total "repeal", PATG has drafted "Rate Reduction legislation" and are working with champions in the House and the Senate to get it introduced. Would you...
Estate Tax Rate Reduction Legislation
Since it is possible that additional estate tax "relief" may be possible this year, and unlikely that we'll see total "repeal", PATG has drafted "Rate Reduction legislation" and are working with champions in the House and the Senate to get it introduced. You can see...
Tax Cuts, Round 2 In 2018
Tax cuts, Round 2: GOP looks to punish Democrats in 2018 POLITICO Magazine By BURGESS EVERETT and RACHAEL BADE - 03/27/2018 06:08 PM EDT "It's the tax pony, and that's the only horse they have to ride," says one top Democrat. Read the full story Thank you for your...
Chairman Brady Announces Intention To Have Another Tax Bill In 2018
Just in case you missed it; In the House Ways and Means Subcommittee Tax Policy Subcommittee Hearing last week, Chairman Brady acknowledged that Republicans are working on a second round of tax cuts to be unveiled later this year. Though the Chairman did not indicate...
State Death Tax Chart Update March 18, 2018
Revised March 18, 2018 PATG State Death Tax Chart - March 18, 2018 This chart is maintained for the Policy and Taxation Group Website and is updated regularly. Any comments on the chart or new developments that should be reflected on the chart may be sent to...
A Letter for Ways and Means Tax Policy Subcommittee Hearing
Policy and Taxation Group submitted this letter for Ways and Means Tax Policy Subcommittee Hearing held on Wednesday 3/14. The Honorable Vern Buchanan U.S. Congressman, Sixteenth District of Florida Chairman, House Ways and Means Tax Policy Subcommittee 1102 Longworth...
Update On Activities Of PATG, FEUSA, And More
To prepare for the opportunities in the year ahead, we have already begun engaging with lawmakers and identifying our champions - including Rep. Mike Kelly (R-PA), who we would like to see take the issue from Rep. Krisi Noem (R-ND) when she leaves Congress at the end...
Senate Democrats Pitch Repeal Of Tax Cuts To Fund Infrastructure (Back)
By Toby Eckert Senate Democrats unveiled on Wednesday a $1 trillion infrastructure plan that would be funded by repealing numerous tax cuts Republicans pushed through Congress last year. The plan would return the top individual tax rate to 39.6 percent, set the...
Tax Policy; The Politics Of It All
If you happen to be in the Orange County, CA area and would like to hear my presentation as described below; please let me know, we would love to have you join us. Open To Supporters Only The Presentation and Lunch will be on: Tuesday, 4/3/18 at 11:30am to 1:00pm...
Drive to Kill Estate Tax Isn’t Dead, Despite Doubled Exemption
By Allyson Versprille and Jorge Uquillas Estate tax repeal efforts aren't dead, but tax law changes will make it harder for proponents to make headway anytime soon. "Getting enough Democrats to vote for repeal in the near term I think is going to be a pretty heavy...
Wishing You All The Very Happiest Of New Years
Wishing you all the very happiest of New Years, with the hope that the surprises that lie ahead in 2018 are only of the most positive kind. This is perhaps an appropriate, albeit bittersweet, segue way to where our Tax Bill effort ended up in 2017. Bittersweet because...
Summary of Tax Cuts and Jobs Act of 2017
Highlights of recently enacted Tax Reform Bill (HR1 "Tax Cuts and Jobs Act of 2017") Individuals Double the estate, GST and gift tax exemption ($5.6 million to $11.2 million, indexed for inflation) for estates of decedents dying and gifts made after December 31, 2017,...
Trump Signs Tax Reform Bill Into Law
Earlier today President Trump signed the just-passed tax reform legislation into law. Though there had been discussion that the President would wait until January to sign the legislation, last night Congress passed a government funding bill that includes a waiver of...