H.R.4154 - Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009

To amend the Internal Revenue Code of 1986 to repeal the new carryover basis rules in order to prevent tax increases and the imposition of compliance burdens on many more estates than would benefit from repeal, to retain the estate tax with a $3,500,000 exemption, and for other purposes. view all titles (7)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to repeal the new carryover basis rules in order to prevent tax increases and the imposition of compliance burdens on many more estates than would benefit from repeal, to retain the estate tax with a $3,500,000 exemption, and for other purposes. as introduced.
  • Popular: Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009 as introduced.
  • Short: Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009 as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to repeal the new carryover basis rules in order to prevent tax increases and the imposition of compliance burdens on many more estates than would benefit from repeal, to retain the estate tax with a $3,500,000 exemption, to reinstitute and update the Pay-As-You-Go requirement of budget neutrality on new tax and mandatory spending legislation, enforced by the threat of annual, automatic sequestration, and for other purposes. as amended by house.
  • Short: Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009 as passed house.
  • Short: Statutory Pay-As-You-Go Act of 2009 as passed house.
  • Official: To amend the Internal Revenue Code of 1986 to repeal the new carryover basis rules in order to prevent tax increases and the imposition of compliance burdens on many more estates than would benefit from repeal, to retain the estate tax with a $3,500,000 exemption, to reinstitute and update the Pay-As-You-Go requirement of budget neutrality on new tax and mandatory spending legislation, enforced by the threat of annual, automatic sequestration, and for other purposes. as introduced.

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Comments Feed

  • brking 12/02/2009 11:13am

    with our national debt reaching near 100% of our GDP, the bush tax cuts totaling 1.4 trillion from 2001 to 2010 should be reimposed by let them expire. it should be no surprise that this tax helped out the to bracket of tax payers by fare. it cut their taxes by 3%. considering they pay 35% of all taxes that a dramatic cut. with possible health-care bill being passed and the war cost we can’t afford to cut tax.

  • crtwining 01/11/2010 9:53am

    The carry over basis rules in effect currently for 2010 would be a defacto estate or death tax anyway. Unfortunately, it would affect far more people than the 2009 $3.5 million estate tax applicable exclusion amount that this bill would put into place retroactively for 2010. For the vast majority of people this will result in no taxes whereas under the current 2010 law a large number of people will owe capital gains taxes when they go to sell mom or dad’s property. There is no do away with minority discounting. All in all a good compromise. Besides those with wealth above 7 million per couple have numerous methods available to them if they plan ahead of time including ILITs, GRATs, CLATs, QPRTs, IDGTs etc to avoid estate tax liability.


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