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HR 5872 113th Congress House Taxation Tax administration and collection, taxpayers Tax reform and tax simplification Transfer and inheritance taxes

American Solution for Simplifying the Estate Tax Act of 2014

Introduced: December 11, 2014 Introduced by: Harris, Andy Republican · Maryland See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 12, 2014
Sponsor introductory remarks on measure. (CR E1807-1808)
Dec 11, 2014
Referred to the House Committee on Ways and Means.
Dec 11, 2014
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now December 12, 2014

Sponsor introductory remarks on measure. (CR E1807-1808)

 Committees of jurisdiction 1