The pressure on wealthy Americans to use their elevated estate tax exemption has eased as former President Donald Trump heads back to the White House.
The current lifetime estate and gift tax exemption, at $13.99 million for 2025, is set to fall by about half at the end of next year.
Republicans doubled the exemption amount as part of their 2017 tax overhaul. Individuals who have more than the exemption amount in gifts or in their estate face a 40% transfer tax. High-net-worth people give money to heirs, trusts, or charity to try to avoid paying that tax.
Congress is ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.