Month: November 2016

Interest Groups See Path to Estate Tax Repeal With Trump

By Allyson Versprille Republican Donald Trump’s election signals good things for people who want to kill the federal estate tax. In the weeks leading up to the election, lobbyists for and against repealing the tax—Trump’s plan calls for repeal—expected that the estate tax wouldn’t change much in the first few years of the next presidency. Many anticipated a divided government that would keep the issue at a standstill. But with Trump’s win and Republicans maintaining control of both House and Senate, groups in favor of repealing what they refer to as the “death…continue reading →

Will Trump Victory Yield Estate Tax Repeal?

By Ashlea Ebeling Estate tax foes have been waiting for a Republican president to make repeal happen, and now they have their chance with President-elect Donald Trump. “It will still be a heavy lift but not insurmountable as it has been with [President Barack] Obama in office,” says Palmer Schoening, head of the Family Business Coalition. “Trump made repealing the death tax a key tenet of his tax reform proposal, and we look forward to working with him to see it through.” Trump’s tax plan calls for repealing the estate tax, and imposing…continue reading →

Family Business Coalition submits comments to Treasury Department opposing proposed expansion of the estate tax

(Washington, D.C.) — Today, the Family Business Coalition submitted comments opposing changes to Section 2704 of the Internal Revenue Code. The Treasury Department released proposed changes to Section 2704 in August that would dramatically change the way family-owned businesses are valued and would increase the tax liability of family businesses across the country. So far over over 9,000 organizations, businesses, and individuals have submitted comments opposing the Treasury’s proposal. More information on the proposed expansion of the estate tax can be found at www.noestatetaxhike.org. The proposed regulations have come under heavy assault from…continue reading →