Official Bill Info

• Latest Action: Jan 09, 2009 Introduced in House

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• Committee Assignment: House Ways and Means

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  This bill has been assigned to the House Ways and Means committee.

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Most-commented sections of the bill text

Highest Rated User Comments

• On February 11, 2009, by brunckel - HR 436 defies economic and financial theory as well as common sense by not allowing discounts for lack of marketability or lack of control on certain assets owned by privately held companies. In most cases the assets for which this bill targets are held in small businesses (corporations and partnerships) that have strict provisions that limit the option for a shareholder/partner to sell and ultimately receive the proceeds. The bill essentially says that you cannot consider the lack of control, lack of a market, the difficulty, the expense, or the time frame for selling an asset in determining its value. This means that congress would like you to pay taxes on an asset that is valued in excess of its fair market value (the amount you are likely to receive when you sell the asset), assuming you even have the right to sell!

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  As noted by brunckel, a user on OpenCongress.org, on February 11, 2009, "HR 436 defies economic and financial theory as well as common sense by not allowing discounts for lack of marketability or lack of control on certain assets owned by privately held companies. In most cases the assets for which this bill targets are held in small businesses (corporations and partnerships) that have strict provisions that limit the option for a shareholder/partner to sell and ultimately receive the proceeds. The bill essentially says that you cannot consider the lack of control, lack of a market, the difficulty, the expense, or the time frame for selling an asset in determining its value. This means that congress would like you to pay taxes on an asset that is valued in excess of its fair market value (the amount you are likely to receive when you sell the asset), assuming you even have the right to sell! "
• On February 14, 2009, by Anonymous - Agreed - HR 436 would eliminate the concept of "fair market value" on these assets. It would be an incredible mistake for an uninformed Congress to sneak this far-reaching and damaging legislation through.

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  As noted by Anonymous, a user on OpenCongress.org, on February 14, 2009, "Agreed - HR 436 would eliminate the concept of "fair market value" on these assets. It would be an incredible mistake for an uninformed Congress to sneak this far-reaching and damaging legislation through. "
• On February 25, 2009, by Anonymous - Wrong. Intra-family use of various discount techniques aimed substantively and solely at reducing estate taxes, while represented ostensibly as having some valid business reason (particularly as applied to non-business assets) have long been a subject of abuse and a windfall to the estate planning industry (lawyers, discount appraisers, accountants, etc.). The machinations clients go through to establish and defend these techniques are usually nothing more than artificial and transparent attempts to avoid tax. By the way, these techniques have been under unsuccessful legislative attack for any years for that very reason.

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  As noted by Anonymous, a user on OpenCongress.org, on February 25, 2009, "Wrong. Intra-family use of various discount techniques aimed substantively and solely at reducing estate taxes, while represented ostensibly as having some valid business reason (particularly as applied to non-business assets) have long been a subject of abuse and a windfall to the estate planning industry (lawyers, discount appraisers, accountants, etc.). The machinations clients go through to establish and defend these techniques are usually nothing more than artificial and transparent attempts to avoid tax. By the way, these techniques have been under unsuccessful legislative attack for any years for that very reason."

Highly Rated Blog Articles

• gudiloback: kristen stewart 2011 hot - June 22, 2011 by Kirkland - http://www.opencongress.org/bill/111-h1868/show. We are waiting in line for GC for long and never know when can be considered as illegals, as there is a very thin line between being legal and illegal here. ...

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  As noted by Kirkland on June 22, 2011, "http://www.opencongress.org/bill/111-h1868/show. We are waiting in line for GC for long and never know when can be considered as illegals, as there is a very thin line between being legal and illegal here. ..." (http://gudiloback.blogspot.com/2011/06/kristen-stewart-2011-hot.html)
• House Roll Call #436 Details - OpenCongress - June 15, 2011 by opencongress.org - Use the options to the right to narrow down your search results. Sessions: 112th Congress 111th Congress 110th Congress 109th Congress. Search in: Bills Congresspeople Committees Issues User Comments OpenCongress Blog ...

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  As noted by opencongress.org on June 15, 2011, "Use the options to the right to narrow down your search results. Sessions: 112th Congress 111th Congress 110th Congress 109th Congress. Search in: Bills Congresspeople Committees Issues User Comments OpenCongress Blog ..." (http://www.opencongress.org/vote/2011/h/436)
• New Law Extends Bush-Era Tax Cuts, Reinstates Estate & Gift Tax ... - December 21, 2010 by Recovery Resources for Individuals - Estate and Generation-Skipping Tax (GST) Repeal – What To Do in 2010 · HR 436 Could Bring Substantial Changes to Estate Tax · Tax Planning Strategies & Year-End Considerations. Published December 22nd, 2010 at 11:41 am in American ...

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  As noted by Recovery Resources for Individuals on December 21, 2010, "Estate and Generation-Skipping Tax (GST) Repeal – What To Do in 2010 · HR 436 Could Bring Substantial Changes to Estate Tax · Tax Planning Strategies & Year-End Considerations. Published December 22nd, 2010 at 11:41 am in American ..." (http://blogs.cbh.com/individuals/?p=1128)

Highly Rated News Articles