American Solution for Simplifying the Estate Tax Act of 2014
113-HR-5872113th CongressIntroduced Dec 11, 2014Taxation
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Sponsor introductory remarks on measure. (CR E1807-1808)
Sponsor
Rep. Harris, Andy [R-MD-1](R-MD-1)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.
Subjects
Tax administration and collection, taxpayersTax reform and tax simplificationTransfer and inheritance taxes
Actions (4)
Sponsor introductory remarks on measure. (CR E1807-1808)
Dec 12, 2014Library of Congress
Referred to the House Committee on Ways and Means.
Dec 11, 2014House floor actions
Introduced in House
Dec 11, 2014Library of Congress
Introduced in House
Dec 11, 2014Library of Congress