Tax Cuts and Jobs Act, Budget Reconciliation, Estate Tax

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

Now Is the Time to Revisit Trusts & Estates Plans, as Tax Exemption Law Changes Are on the Horizon

Tarter Krinsky & Drogin LLP on 6/17/2025

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act by a single-vote margin. This bill adopted many of the recommendations of the House Ways and Means Committee, with a few changes along the...more

Summary of key provisions in House reconciliation bill

A&O Shearman on 5/29/2025

On May 22, 2025, the U.S. House of Representatives narrowly passed the House budget reconciliation bill (H.R. 1) (the “House Bill”) by a party-line vote of 215 – 214. The House Bill, which includes significant tax law...more

Preparation of the "Sunset" and Estate Planning in an Uncertain Economic Climate for High Net Worth Families

Bilzin Sumberg on 5/9/2025

The recent volatility in the stock market, ongoing trade wars, and talks of further increases to the federal debt ceiling have intensified concerns in recent months around economic uncertainty and the risk of recession. ...more

Baseline vs. the Byrd Rule: What’s Next for the Gift and Estate Tax?

Kohrman Jackson & Krantz LLP on 4/14/2025

On April 10, 2025, the House of Representatives narrowly approved the Senate’s version of the FY 2025 budget resolution, which it passed on April 5, formally aligning both chambers on President Trump’s legislative tax agenda....more

Countdown to Tax Changes: Navigating Budget Reconciliation 2025

Lippes Mathias LLP on 3/19/2025

As the clock ticks down to the end of 2025, the impending sunset of key provisions of the Tax Cuts and Jobs Act (“TCJA”) looms large, threatening tax hikes for millions of Americans. With Congress at a crossroads, the...more

The Federal Estate Tax In 2021: What Might We Expect? What Can We Do?

Farrell Fritz, P.C. on 1/4/2021

Happy New Year? Ask anyone outside the United States what comes to mind when they think about an American New Year’s celebration, and the odds are pretty good they will mention the ball drop in New York City’s Times Square. ...more

Tax Cuts and Jobs Act › Budget Reconciliation › Estate Tax