Topics: Estate Tax

House Republicans Introduce Tax Reform Measure

The House Ways and Means Committee on Nov. 2 released the Tax Cuts and Jobs Act to overhaul major aspects of the U.S. Tax system. The bill will be the subject of Committee consideration next week, kicking off formal tax committee action on the first such overhaul of the U.S. tax system in more than 30 years. Senate Finance Committee Chairman Orrin Hatch (R-UT) announced that he plans to release a Senate Republican version of a tax reform bill after the Ways and Means Committee completes its work, as soon as November 9. The Senate Finance Committee could consider its own plan at the same time the full House votes on its plan in an effort to make as much progress as possible on the legislation prior to Thanksgiving. More

Treasury Department Withdraws Regulations Increasing Estate Tax Burden on Family Businesses

In a positive development for NATSO members and family businesses throughout the country, the Treasury Department has formally announced that it will withdraw the so-called "Section 2704 regulations" on family business valuation. These regulations would have increased the estate tax (aka "death tax") burden on family businesses. More

NATSO, Family Business Coalition Urge Repeal of Death Tax

NATSO joined more than 132 small business and advocacy organizations across the United States in supporting the Death Tax Repeal Act of 2017, which would end the federal estate tax. More

NATSO Opposes Changes to Estate Tax

NATSO has been working with the Family Business Coalition to oppose the Department of Treasury's proposed changes to estate and gift tax valuation discounts. As a practical matter, the proposed changes -- which are still be evaluated and have not been finalized -- will significantly change family businesses' succession plans and make it harder for family owned businesses to transition to the next generation. More

NATSO Urges Senate Vote on Death Tax Repeal

NATSO joined more than 112 associations representing small businesses across the United States in urging the Senate to vote on the House passed Death Tax Repeal Act of 2015 (H.R. 1105), which would end the federal estate tax. More

"Fiscal Cliff" Legislation Includes Biodiesel Tax Credit

The House and Senate passed legislation Tuesday designed to avert the so-called fiscal cliff, a combination of tax increases for individuals and cuts to government spending. The legislation overwhelmingly passed the Senate, 89-8, and passed the House 257-167, with 85 Republicans voting in favor of the legislation. More

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