US HB5872 | 2013-2014 | 113th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on December 11 2014 - 25% progression, died in chamber
Action: 2014-12-12 - Sponsor introductory remarks on measure. (CR E1807-1808)
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on December 11 2014 - 25% progression, died in chamber
Action: 2014-12-12 - Sponsor introductory remarks on measure. (CR E1807-1808)
Text: Latest bill text (Introduced) [PDF]
Summary
American Solution for Simplifying the Estate Tax Act of 2014 - Amends the Internal Revenue to: (1) allow taxpayers an election to make annual payments of 1% of their adjusted gross income for a minimum seven-year period in lieu of existing estate and generation-skipping transfer taxes, and (2) allow a step-up in basis for estate property of a taxpayer making an election under this Act. Sets forth requirements for the filing of an estate tax return for taxpayers who have made an election under this Act.
Title
American Solution for Simplifying the Estate Tax Act of 2014
Sponsors
| Rep. Andy Harris [R-MD] |
History
| Date | Chamber | Action |
|---|---|---|
| 2014-12-12 | House | Sponsor introductory remarks on measure. (CR E1807-1808) |
| 2014-12-11 | House | Referred to the House Committee on Ways and Means. |
Subjects
Tax administration and collection, taxpayers
Tax reform and tax simplification
Taxation
Transfer and inheritance taxes
Tax reform and tax simplification
Taxation
Transfer and inheritance taxes
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/113th-congress/house-bill/5872/all-info |
| Text | https://www.congress.gov/113/bills/hr5872/BILLS-113hr5872ih.pdf |
