Estate and Gift Taxes.

Intro -- Estate and Gift Taxes -- Contents -- Preface -- Economic Issues Surrounding the Estate and Gift Tax: A Brief Summary -- Abstract -- Arguments for the Estate and Gift Tax -- Arguments Against the Estate and Gift Tax -- Other Issues -- References -- Estate and Gift Tax Revenues: Past and Projected in 2008 -- Abstract -- Changes in Estate Tax Law -- Exemption -- Maximum Tax Rate -- Which Law is Reflected in Revenue for a Particular Year? -- Unexpected Patterns -- Gift Tax Revenues Fell After 2001 Tax Act -- Estate and Gift Taxes Contribute Less Than 2% of Federal Revenue -- CBO Projections Show Rebound in Estate Tax Revenues after FY2011 if EGTTRA Sunsets -- Treasury Department and JCT Estimates of Revenue Loss from Permanent Repeal -- References -- Alternatives to the Current Federal Estate Tax System Testimony to the Senate Committee on Finance -- Introduction -- Why Did Canada, Australia, and New Zealand Abolish their Wealth Transfer Taxes? -- Conclusion -- Reform Options for the Estate Tax System: Targeting Unearned Income -- Testimony before the United States Senate Committee on Finance March 12, 2008 -- I. Background on Wealth Transfers -- II. Magnitude and Distribution of Estate Tax Burdens -- III. Reforms Worth Consideration -- IV. Conclusion -- References -- Economic Growth and Tax Relief Reconciliation Act of 2001 -- Title I - Individual Income Tax Rate Reductions -- Title II - Tax Benefits Relating to Children -- Title III - Marriage Penalty Relief -- Title IV - Affordable Education Provisions -- Title V - Estate, Gift, and Generation-Skipping Transfer Tax Provisions -- Title VI - Pension and Individual Retirement Arrangement Provisions -- Part I - General Provisions -- Part II - Treatment of Plan Amendments Reducing Future Benefit Accruals -- Title VII - Alternative Minimum Tax -- Title VIII - Other Provisions.

Title IX - Compliance with Congressional Budget Act -- The Estate Tax: Myths and Realities -- Myth 1. Repealing the Estate Tax Wouldn't Significantly Worsen the Deficit Because the Tax Doesn't Raise Much Revenue -- Myth 2. The Estate Tax Forces Estates to Turn Over Half of Their Assets to the Government -- Myth 3. Many Small, Family-Owned Farms and Businesses Must Be Liquidated to Pay Estate Taxes -- Myth 4. The Estate Tax is Best Characterized as the "Death Tax. -- Myth 5. The Estate Tax Unfairly Punishes Success -- Myth 6. Eliminating the Estate Tax Would Encourage People to Save and Thereby Make More Capital Available for Investment -- Myth 7. The Estate Tax Constitutes "Double Taxation" Because It Applies to Assets That Already Have Been Taxed Once as Income -- Myth 8. If The Estate Tax is Reformed and Retained, the Logical Top tax Rate Would Be 15 Percent, the Same as the Capital Gains Rate -- Myth 9. The Cost of Complying with the Estate Tax Is Nearly Equal to the Total Amount of Revenue the Tax Raises -- Testimony of Joseph M. Dodge Stearns Weaver Miller Weissler Alhadeff and Sitterson Professor of Law Florida State University College of Law before Committee on Finance U.S. Senate March 12, 2008 -- A. Possible Alternatives to the Current Transfer Taxes -- B. Inheritance Taxes and Carryover Basis Should Be Taken off the Table -- C. Mitigating Valuation Problems -- D. Transfer Tax Features Do Not Necessarily "Transfer" to the Income Tax -- E. Comparing the Accessions Tax with the Income-Inclusion Approach -- Appendix: Writings of Joseph M. Dodge on the Federal Transfer Taxes and Alternatives Thereto -- Index.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.