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Written by Derek W. Jensen   
Monday, 08 June 2009 13:38
The Blue Dog House Democrats were able to show their power in forming last weeks budget resolution. They will require pay-as-you-go budget rules for Alternative Minimum Tax, Obama’s reimbursement plan for doctors of Medicare patients and his plans for the estate tax. Pay-as-you-go means either tax increases or budget cuts elsewhere. This could mean that Blue Dogs could be battling their own party’s leadership.

There is also a group of moderate Democrats in the Senate; however, they...

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Written by Derek W. Jensen   
Monday, 08 June 2009 13:37
I have to give credit for the title of this post to Wall Street Journal writers Mike Spector and Anne Tergesen. They used the term as a side bar in their recent article, Unusual Trusts Gain Appeal in Unusual Time.

In their article they discuss some of the many uses for a technique that is often difficult to explain, the ‚Äúintentionally defective grantor trust‚ÄĚ. The other day I was explaining to a client the three ways that an irrevocable trust can be taxed and how those three methods...

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Written by Derek W. Jensen   
Monday, 08 June 2009 13:37
After the drama of the Senate Budget Resolution, the battle lines are clearly drawn. On the one side is President Obama and most of the Democrats. On the other side are the Senate Republicans and 10 Democrats as evidenced by the Lincoln / Kyl amendment.

Or so it would seem! In stead of being a budget battle, it is likely to be a whimper. In this post, Erza Klein illustrates what the amendment actually does and gives some insight into the legislative process. It makes one wonder if all of...

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Written by Derek W. Jensen   
Monday, 08 June 2009 13:36
This week has shown some progress on Capital Hill for the future of the Estate Tax. Both the House and the Senate have been working on non-binding budget resolutions that will be the framework for the budget that will eventually be signed by the President. Before the resolutions were passed on Thursday there was some maneuvering on the Senate floor. 

The marathon voting session capped a 13-hour day that included Vice President Biden and brain cancer-stricken Sen. Edward Kennedy...

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Written by Derek W. Jensen   
Monday, 08 June 2009 13:34
So far H.R. 436 has been the only legislative glimpse into the future of the estate tax. Now, thanks to this article on tax law changes, I have found one more. A ‚ÄúBrief Analysis of President Obama‚Äôs FY 2010 Budget,‚ÄĚ produced by a group called the U.S. Senate Budget Committee Majority Staff provides additional details on Obama‚Äôs estate tax plan, or at least on what Senate staffers for the majority think it means.  The staffers say that Obama‚Äôs budget assumes that the estate tax...

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