Complimentary Webinar: Congress Proposes Cuts to Estate and Gift Tax Exemptions – Don’t Ignore This
Senator Chris Van Hollen introduced the Strengthen Social Security by Taxing Dynastic Wealth Act, which includes significant cuts to the high estate and gift tax exemption. Under this proposal the federal estate tax exemption could drop to $3.5M, the gift exemption could drop to $1M, and transfer tax rates could increase to 45%. With the potential for a change in control in Congress in the upcoming elections, and the clever tie in of estate tax changes to fund Social Security which cannot be permitted to lapse, practitioners should not ignore this proposal.




































































































