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Update - Tax Proposals Of The House Ways And Means Committee: Reconciliation Bill To Target Trusts, Estates, And The Wealthy - Tax

Last month, the House Ways & Means Committee (the "Committee") approved draft legislation (the "Legislation") as part of Congress' ongoing $3.5 trillion budget reconciliation process.

Gain recognized upon transfers to grantorTaxation upon termination of grantor trust statusElimination of grantor trustHouse budget committeeHouse ways means committeeHouse waysMeans committeeTax exclusionGrantor trust benefitsUpon terminationGrantor trustRecognized upon transfersValuation discountNonbusiness assetsQualified small business stockUpdate tax proposals of the house ways and means committee reconciliation bill to target trusts

Trusts, Estates, and the Wealthy Targeted by Reconciliation Bill

Last month, the House Ways & Means Committee approved draft legislation as part of the budget reconciliation process, which includes significant tax proposals that will dramatically change the tax and estate planning landscape for high-income and high-net-worth individuals.

Gain recognized upon transfers to grantorTaxation upon termination of grantor trust statusElimination of grantor trustHouse budget committeeHouse ways means committee theHouse waysMeans committeeHouse reportGeneration skipping transferTax exclusionGrantor trust benefitsUpon terminationGrantor trustRecognized upon transfersValuation discountNonbusiness assets

Update - Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy | Winstead PC

Last month, the House Ways & Means Committee (the "Committee") approved draft legislation (the “Legislation”) as part of Congress' ongoing $3.5 trillion budget reconciliation process..

Gain recognized upon transfers to grantorTaxation upon termination of grantor trust statusElimination of grantor trustHouse budget committeeHouse ways means committee theHouse waysMeans committeeHouse reportGeneration skipping transferTax exclusionGrantor trust benefitsUpon terminationGrantor trustRecognized upon transfersValuation discountNonbusiness assets

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