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Topic:   Estate Taxes

1-10 of 36     Back to Topics Next>>

An Analysis of Governor Bush's Tax Plan (Research Report)
Leonard E. BurmanWilliam G. GaleJohn IselinJim NunnsJeff RohalyJoseph RosenbergRoberton Williams

This paper analyzes presidential candidate Jeb Bush’s tax proposal. It would reduce individual and business marginal tax rates, curtail tax expenditures, and convert the corporate income tax into a cash-flow consumption tax. The proposal would cut taxes at all income levels, reducing federal revenues by $6.8 trillion over its first decade before considering macro feedbacks. The plan would improve incentives to work, save, and invest, but unless accompanied by very large spending cuts, it could increase the national debt by as much as 50 percent of GDP by 2036, which would tend to put a drag on the economy.

Published: 12/08/15
Availability:   PDF

Changes in Income Reported on Federal Tax Returns (Article/Tax Facts)
Roberton WilliamsLydia Austin

The composition of reported income has changed markedly since 1952. Investment income has continued to grow, along with business income, interrupted only by periodic economic downturns. Meanwhile, salaries and wages have declined as a share of income.

Published: 01/07/15
Availability:   PDF

The Charitable Contribution Deduction: Section 170 Reorganized (Research Report)
Dan Halperin

This paper attempts first to clarify tax rules concerning charitable contributions by reorganizing section 170 and simplifying the language, where possible, so that the operative rules will be clearer. In addition, a revision of the estate and gift tax provisions, intended to increase uniformity, is proposed. The possibility of further substantial simplification is explored in the section by section analysis which follows the proposed code revision. Whether or not the Code is actually revised in accordance with the proposed draft, having this tool available will help analyze the statute.

Published: 03/21/13
Availability:   PDF

Estate Taxes After ATRA (Article/Tax Facts)
Benjamin H. Harris

The American Taxpayer Relief Act (ATRA) made estate tax law permanent following more than a decade of constant change. Following ATRA, the estate tax remains one of the most progressive parts of the tax code. In 2013, estates with gross assets exceeding $20 million will account for nearly three-fourths of the total estate tax revenue. About one-fifth of the burden will fall on estates valued between $10 million and $20 million, while just 7 percent will come from estates worth less than $10 million.

Published: 02/25/13
Availability:   PDF

Tax Provisions in the American Taxpayer Relief Act of 2012 (ATRA) (Research Report)
Jim NunnsJeff Rohaly

The fiscal cliff debate culminated in the passage of the American Taxpayer Relief Act of 2012 (ATRA). ATRA makes permanent most of the tax cuts enacted in 2001 and 2003, permanently patches the alternative minimum tax, extends for five years the enhancements to individual income tax credits originally enacted in the 2009 stimulus legislation, and temporarily extends certain other tax provisions. This paper provides a detailed description of the individual, corporate, and estate tax provisions in ATRA.

Published: 01/09/13
Availability:   PDF

Back from the Dead: State Estate Taxes After the Fiscal Cliff (Research Report)
Norton Francis

The 2001 tax cuts temporarily phased out a credit for state estate and inheritance taxes and replaced it in 2005 with a deduction. Responding to the repeal, some states simply repealed their estate taxes. Others decoupled from the federal law, either establishing a stand-alone tax or explicitly linking their taxes to the 2001 law. But most states did nothing, leaving dormant legislation in place linked to the repealed federal credit. The uncertain future of the credit highlights the inter-relationship between federal and state tax systems and the uncertainty federal temporary actions create for taxpayers and other levels of government.

Published: 11/14/12
Availability:   PDF

It's Not About Economic Equality (Commentary)
Roberton Williams

In the New York Times' Room for Debate, Roberton Williams discusses the estate tax and why, despite its shortcomings, it still has an important role in federal tax policy.

Published: 12/17/10
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Where, Oh Where, Has the Estate Tax Gone? (Article/Tax Facts)
Roberton Williams

Unless Congress changes the law, the federal estate tax will disappear on January 1, 2010. For the first time since the 1916 inception of the tax, the estate of anyone dying in 2010 will go to heirs tax free, a result of the 2001 tax law that phased out the estate tax over 10 years. But that law itself expires in 2011 and the estate tax will revert to pre-2001 law.

Published: 12/23/09
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Back from the Grave: Revenue and Distributional Effects of Reforming the Federal Estate Tax (Research Report)
Leonard E. BurmanKatherine LimJeff Rohaly

In this paper we review the current wealth transfer tax rules and the changes introduced in 2001. We offer an overview of the methodology underlying the TPC's estate tax model and then use the model to estimate the number of estate tax filers, taxable returns, and the distribution of burden under current law. Finally, we investigate the revenue and distributional effects of several proposals to reform the estate tax, including those put forth by the presidential candidates.

Published: 10/20/08
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A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans (Summary) (Summary)
The Tax Policy Center

Tax and fiscal policy will loom large in the next president's domestic policy agenda. Nearly all of the tax cuts enacted since 2001 expire at the end of 2010 and the individual alternative minimum tax (AMT) threatens to ensnare tens of millions of Americans. While a permanent fix palatable to both political parties has proven elusive, both candidates have proposed major tax changes. This summary outlines our analysis of the 2008 presidential candidates' tax plans. The full length report is also available.

Published: 06/24/08
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1-10 of 36     Back to Topics Next>>