House Democrats may try to amend the estate tax provision of a bill that would extend Bush administration tax cuts for all income levels after the Senate acts on the measure early this week.
In a major compromise with the GOP, Pres. Obama agreed to extend lower marginal rates through 2012. The Administration also wants to cap the estate tax at 35% with a hefty $5 million exemption. Not surprisingly, some Democrats aren't overly thrilled by the plan.
Democrats may not be happy with the Administration's plan to revive the levy, but there may not be much they can do about it. Here's how things shake out right now.
The U.S. House set a vote for tomorrow on Democrats' plan to extend middle-class tax cuts as congressional and Obama administration negotiators started talks aimed at forging a bipartisan compromise.
Some financial advisers worry that the tax agreement between congressional Republicans and the White House will discourage some clients from seeking advice on estate planning.
Stocks rose, copper and gold climbed to all-time highs and Treasuries fell after President Barack Obama agreed to extend tax cuts, offsetting concern that Europe's debt crisis will spread further.
An extension of the Build America Bond program was omitted from a compromise that President Barack Obama struck with congressional leaders to prolong tax cuts enacted in 2001 and 2003, White House officials said.
President Barack Obama and congressional Republicans kick-started negotiations today at the White House over a possible extension of Bush-era tax cuts that are set to expire Dec. 31.
A broad coalition of accounting, financial planning and consumer groups are hoping that the new Congress will take up a long-sought-after ban on the practice of patenting tax strategies
Although it is widely underused, donating appreciated securities is perhaps the most straightforward and tax-smart way to give
Congress won't act directly on the recommendations of a presidential deficit commission, but elements of its plan — including the elimination of tax breaks and deferrals for retirement, life insurance and employer-sponsored health care plans — may become part of legislation in coming months.
Leaders of a presidential deficit commission recommend the elimination of all tax breaks for retirement, life insurance and employer-sponsored health care plans in their final report, which was released Wednesday and will be voted on by the full panel Friday morning.
The House of Representatives approved on Thursday a bill that would permanently extend Bush administration tax cuts for the middle class but allow rates for wealthier taxpayers to increase.
President Barack Obama told newly elected state governors that he's “optimistic” the administration will reach a deal on tax cuts with congressional Democrats and Republicans before the end of the year.
Congress won't act directly on a proposal approved by a presidential deficit commission this week, but elements of the plan could become part of legislative proposals in coming months to address huge fiscal imbalances.
Preferential tax treatment for retirement programs and insurance products are threatened in a draft proposal from the chairmen of the national deficit commission, according to advocates.
Corporate pension industry lobbyists are bracing for an attack on the tax breaks for pension plans as the White House and federal lawmakers struggle to slash the federal budget deficit
Putnam Investments chief Robert Reynolds went to Washington last Wednesday to urge Congress to save Social Security — just not in the way financial services industry executives usually -recommend
It's that time of year when you are talking to clients about taxes.
In light of a recent IRS decision that took some by surprise, there's one options strategy we're not likely to see anymore
