Selected Issues In Tax Reform: The Estate And Gift Tax – Analysis
By Jane G. Gravelle
The estate and gift tax imposes a tax of 40% on gifts and estates in excess of a lifetime exemption of $13.99 million (double that amount for married couples). The exemption is indexed for inflation. The tax revision of 2017 (P.L. 115-97), commonly known as the Tax Cuts and Jobs Act (TCJA), temporarily...