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Tax Cuts and Jobs Act › Estate Planning › Federal Budget

Verrill

Permanent Exemptions and New Deductions: What the 2025 Tax Law Means for Estate and Tax Planning

Verrill on

On July 4, 2025, President Trump signed into law the 2025 Budget Reconciliation bill, commonly known as the One Big Beautiful Bill Act (“Act”). This legislation extends several provisions from the Tax Cuts and Jobs Act...more

Steptoe & Johnson PLLC

Tax Reform is Underway

Steptoe & Johnson PLLC on

Will America celebrate the Fourth of July with the passage of major tax reform? On May 22, House Republicans passed the “One Big Beautiful Bill Act” under the budget reconciliation process. This marks a significant milestone...more

Kohrman Jackson & Krantz LLP

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

Kohrman Jackson & Krantz LLP on

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

Kohrman Jackson & Krantz LLP

Baselines and the Bottom Line: How Congress’s Choice Could Determine the Fate of the Estate Tax Exemption

Kohrman Jackson & Krantz LLP on

As lawmakers advance toward the critical 2025 tax cliff, a key—and increasingly contentious—policy question is coming into sharper focus: What should Congress assume about the future when it scores the cost of extending the...more

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