Pending Legislation

Opportunities for 529 College Savings Plans

Posted on: May 24th, 2015
529 College Savings Plans consistently offer long-term tax-deferred growth for future students. As a savings tool, 529 plans come with a few restrictions. For one, contributions must be made with after-tax dollars. ...

Another Flip-Flop on Inherited IRA Stretch

Posted on: March 10th, 2012
Tax season is in full swing, and I was recently out of the office for a few days, so I’m a bit late in reporting this, but the provision to do away with the ability of most IRA beneficiary’s to stretch distributions over their life expectancies is now back on the table as part of the Senate Highway Bill. See Page 28 for details....

Stretch IRAs No Longer on the Chopping Block

Posted on: February 23rd, 2012
The the provision that would limit stretch IRAs (I blogged about it yesterday) has been removed from the proposed Highway Bill. Good news! See this article on ...

No More IRA Stretching?

Posted on: February 22nd, 2012
Senator Baucus’ proposal to do away with stretching for most inherited IRA has not gone away as was anticipated earlier this month. A recently introduced Senate bill, S. 1813, the Highway Investment, Job Creation, and Economic Growth Act, ...

Estate and Gift Tax Bill Introduced in House

Posted on: November 23rd, 2011
On November 17, 2011, Congressman Jim McDermott (D-WA), a senior member of the House Ways and Means Committee, introduced HR 3467, the “Sensible Estate Tax Act of 2011”. Along with changes to the estate tax, the bill includes many of Obama’s 2012 Fiscal Year Proposals with regard to gift and GST taxes. The bill includes the following:...

Democrats to Introduce Bill to Lower Estate Tax Exemption to $1 Million

Posted on: November 17th, 2011
This news courtesy of Financial Advisor Nat Harris (emphasis added): House Democrats plan to introduce a bill today to extend and overhaul the estate tax beyond 2012 in the opening salvo of what is likely to be a long and politically-charged debate next year....
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