Estate Tax Changes
There have been substantial changes to the Federal estate tax because of recent action by the US Congress. The major change centers on the doubling of the federal estate tax exemption for estate and gift taxes. For 2018, the estate tax exemption has been increased to $11.2 million. However, this increase expires on December 31, 2026 and absent action by Congress, upon expiration, the federal estate tax exemption in effective for 2017 will be reinstated. The doubling of the estate tax exemption will reduce the number of estates that are required to file a Federal 706 estate tax return. Meanwhile,... Read More