Popular, Gift Tax

One Big Beautiful Bill Act Permanently Increases the Lifetime Estate, Gift and GST Tax Exclusion

Foley & Lardner LLP on 7/10/2025

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA). The OBBBA extended and may permanent many key provisions of the 2017 Tax Cuts and Jobs Act (the TCJA), including the Lifetime Estate,...more

Trump Accounts: The New Child Savings Account Established Under the One Big Beautiful Bill Act

Foley & Lardner LLP on 7/10/2025

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBA). The OBBA established a new type of tax-advantaged savings account for minors, known as “Trump Accounts.” While the specific details of...more

One Big Beautiful Bill: Estate and Gift Tax Exclusion and the Generation-Skipping Transfer Tax Exemption Increases to $15 Million

Miller Canfield on 7/8/2025

The One Big Beautiful Bill (OBBB), which passed on July 3 and was signed by President Donald Trump on July 4, increases the amount individuals may transfer for federal estate, gift, and generation-skipping transfer tax...more

2025 Tax Legislation Update: One Big Beautiful Bill Act Narrowly Passes Senate

Ropes & Gray LLP on 7/3/2025

The “One Big Beautiful Bill Act” (the “BBB”) was passed by the U.S. House of Representatives on May 22, 2025 (such version, the “House Bill”) as part of the Republican Congress’s reconciliation package. The BBB generally...more

The One Big Beautiful Bill Act: An Initial Analysis of Key Tax Proposals

Skadden, Arps, Slate, Meagher & Flom LLP on 5/29/2025

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). Tax-related proposals contained in the OBBBA would extend or make permanent select corporate, international and individual tax...more

Death Tax Repeal Bills Introduced in Congress: A Legislative Showdown Looms

Kohrman Jackson & Krantz LLP on 2/20/2025

New legislation to repeal the federal estate tax, often referred to as the “death tax,” has been introduced in Congress. Senator John Thune (R-SD) and Representative Randy Feenstra (R-IA) have introduced companion bills in...more

The Year in Estate Planning – 2022 Popular Reads on JD Supra

Beacon Insights by JD Supra on 1/3/2023

A look at some of the most widely read estate planning updates and guidance published on JD Supra during 2022....more

2022 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/18/2022

During 2022, COVID-19, the war in Ukraine, global inflation, the Tax Cuts and Jobs Act (TCJA), the uncertainty about the Build Back Better Act (BBBA), the Corporate Transparency Act (CTA), and the Inflation Reduction Act...more

2021 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/24/2021

Overview During 2021, COVID-19, the new Biden administration, the Tax Cuts and Jobs Act (TCJA), the Coronavirus Aid, Relief and Economic Security Act (CARES ACT), the American Rescue Plan (ARP), and the uncertainty about the...more

Internal Revenue Service Announces Changes to Income Thresholds for 2022 Federal Income Tax Brackets

Lasher Holzapfel Sperry & Ebberson PLLC on 11/15/2021

The IRS has announced it will be adjusting income thresholds for federal income tax brackets in 2022. Typically, the IRS raises thresholds to keep pace with consumer prices, however October’s year-over-year increases of...more

Estate Planning Advisory - House Ways and Means Proposal

A&O Shearman on 10/29/2021

The House Ways and Means Committee recently proposed sweeping changes to the tax code that would significantly impair fundamental wealth transfer planning techniques. We recommend that you consider taking action now....more

House Democrats Propose Estate and Gift Tax Law Changes: Important Estate Planning Implications

Verrill on 9/29/2021

What you need to know: On September 13, 2021, the House Ways and Means Committee released its proposed tax plan to fund President Biden’s $3.5 trillion “Build Back Better” social and economic spending package. If enacted as...more

Estate Planning Provisions of the New Tax Plan

Blank Rome LLP on 9/20/2021

On Monday, September 13, 2021, the House Ways & Means Committee released a draft tax plan which provides the clearest direction to date on how Democrats intend to use the estate and gift tax regimes to pay for part of the...more

Tax Increases Are In Sight

Rivkin Radler LLP on 9/7/2021

Summertime in Washington- On August 11, the Senate passed the $3.5 trillion budget resolution for the 2021-2022 fiscal year – S. Con. Res. 14, as amended – by a vote of 50 to 49, strictly along party lines, including...more

Impact Of President Biden’s Tax Plan On Estate Planning

Polsinelli on 7/26/2021

With Democratic control of the White House and Congress, there has been much speculation on what President Biden’s tax proposal will look like, as well as the likelihood that President Biden’s tax plan will be enacted into...more

The Biden Administration’s Revenue Proposals For Fiscal Year 2022: Tax Increases And Forced Recognition Of Capital Gains

Rivkin Radler LLP on 6/2/2021

Extra, Extra!- Last Friday afternoon, as millions of unsuspecting Americans prepared for the long Memorial Day weekend – for many, perhaps, their first mask-less holiday celebration in almost 15 months – the Biden...more

Deadline for Filing Extensions on Gift Tax Returns Is April 15

Neal, Gerber & Eisenberg LLP on 4/8/2021

The Internal Revenue Service recently announced the federal income tax filing due date for individuals for the 2020 tax year will be extended automatically from April 15, 2021, to May 17, 2021. However, this announcement did...more

2020 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/25/2020

In 2020, COVID-19, the US presidential election, the Tax Cuts and Jobs Act (the TCJA), and the Coronavirus Aid, Relief and Economic Security Act (the CARES ACT) dominated the planning landscape....more

Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - Health Policy

McDermott Will & Schulte on 11/9/2020

In this session, health law policy authorities discussed changes likely in 2021 in a Biden Administration and how these changes will impact business objectives and strategies for health industry stakeholders...more

Estate Planning Inflation Related Adjustments for Tax Year 2021

Williams Mullen on 10/30/2020

Many estate planning provisions of the Internal Revenue Code contain brackets, exemptions, exclusions, deductions, or other figures that the Internal Revenue Service (IRS) adjusts annually for inflation. Recently, the IRS...more

[Webinar] Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - November 5th, 12:00 pm - 2:15 pm EST

McDermott Will & Schulte on 10/22/2020

Are you prepared for the critical impacts of the US election outcome to you and your business in 2021 and beyond? Join McDermott’s lawyers and our policy and lobbying team for perspective on the effects of administration...more

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