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Summary of the Reconciliation Act of 2017

Posted on December 25, 2017 by Daniel EvansOctober 23, 2018

The tax bill formerly known as the “Tax Cuts and Jobs Act” (H.R. 1) is now Public Law No. 115-97. The official title of the act is “To provide for reconciliation pursuant to titles II and V of the concurrent … Continue reading →

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Pennsylvania Legislation Pending

The following chart shows the status of legislation introduced in the 2023-2024 session of the Pennsylvania legislature that might be of interest to estate and trust practitioners. (The charts of legislation for 2021-2022, 2019-2020, 2017-2018, and 2015-2016 have all been archived.) Click on the bill number to see the history or text of the bill. (Includes actions through 1/13/2023.)

Bill	Purpose/Subject	Adds/Amends	Last House Action	Last Senate Action	Act
SB 75	Phases out inheritance tax on siblings (was SB 27 of 2019 and SB 583 of 2021)	Amends § 2116(a)(1.3) of the Tax Reform Code of 1971		Referred to Finance (1/12/23)

Pennsylvania Legislation 2015-2016

The following chart shows the status of legislation introduced in the 2015-2016 session of the Pennsylvania legislature that might be of interest to estate and trust practitioners. Click on the bill number to see the history or text of the … Continue reading →

Inheritance Tax Amendments (Act 84)

Sections 45 and 47 of the Act of July 13, 2016, No. 84, (H.B. 1198), made several changes to the inheritance tax exemptions for agricultural property and family-owned businesses, sections 2111(s), (s.1) and (t), and section 2130(5), of the Tax … Continue reading →

Consistent Basis Reporting Required

Posted on July 30, 2015 by Daniel EvansAugust 4, 2015

Consistent tax basis reporting by the executor of an estate on the federal estate tax return and the beneficiaries of the estate on their individual income tax returns will be required under section 2004 of the Surface Transportation and Veterans … Continue reading →

Pooled Disability Trusts – Act 168

Posted on October 28, 2014 by Daniel EvansOctober 28, 2014

On October 27, 2014, Governor Corbett signed SB 428, making it Act 186 of 2014. The act makes changes to 20 Pa.C.S. 7799.3, which deals with pooled trusts for people with disabilities. The most significant change is that, when a … Continue reading →

Pooled Trusts for the Disabled

Posted on October 16, 2014 by Daniel EvansOctober 16, 2014

Both houses of the legislature have passed SB 428, which makes changes to Pennsylvania laws on pooled trusts for persons with disabilities. … Continue reading →

Uniform Fiduciary Access to Digital Assets Act

Posted on August 5, 2014 by Daniel EvansFebruary 21, 2015

At its recently completed 2014 annual meeting, the National Conference of Commissioners on Uniform State Law approved the Uniform Fiduciary Access to Digital Assets Act. When enacted by the various states, the act will provide personal representatives of estates, agents … Continue reading →

Powers of Attorney Law Amended

Posted on July 7, 2014 by Daniel EvansJuly 10, 2014

Pennsylvania H.B. 1429, which makes a number of changes to the form and effect of powers of attorney, was signed by Governor Corbett on July 2, becoming Act 95 of 2014. Updated on July 10: Here is the first installment … Continue reading →

The Inheritance and Estate Tax Act — Part XII

HTML Version Copyright 1995- Daniel B. Evans. All rights reserved. (Article XXI of the Tax Reform Code of 1971, Act of March 4, 1971, P.L. 6, No. 2, added by Act of Aug. 4, 1991, P.L. 97, No. 22, as amended.) — … Continue reading →

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