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Signed into law Dec. 22, 2017, the Tax Cuts and Jobs Act (TCJA) -- informally known as the Trump tax cuts -- contained a number of changes to individual tax rates that are set to expire after 2025....
The TCJA introduced a federal lifetime estate and gift tax exemption of up to $13.61 million for single taxpayers in 2024 ($27.22 million for joint filers). This was more than double the previous ...
At the end of 2025, significant tax cuts are expiring that were passed under the Trump administration through the Tax Cuts and Jobs Act (TCJA), often called the Trump tax cuts. Unless a new law is...
[153] [111] [154] If Trump's tax plan had been in place in 2005 (the one recent year in which his tax returns were leaked), he would have saved $31 million in taxes from the alternative minimum tax cut alone. [111] If the most recent estimate of the value of Trump's assets is correct, the repeal of the estate tax could save his family about $1. ...
According to the Economic Growth and Tax Relief Reconciliation Act of 2001, the applicable exclusion increased to $3,500,000 in 2009, and the estate tax was repealed for estates of decedents dying in 2010, but then the Act was to "sunset" in 2011 and the estate tax was to reappear with an applicable exclusion amount of only $1,000,000.
Also at the panel, Norquist, who is an advocate for full repeal of the estate tax, added that he approved of ASSET's proposal, and that it should be part of the discussion on estate tax reform. In April 2014, ASSET called on the federal Ways and Means Committee to include estate tax reform as a part of a more comprehensive reform effort.
In a win for the wealthiest Americans, the TCJA also doubled the federal estate tax exemption from $5.6 million to $11.2 million for single filers (and double that for married couples).
Individuals Will Likely Pay More if Trump-Era Tax Cuts Aren’t Extended Individual income tax brackets will revert to 2017 levels, increasing anywhere between 1% to 4% for many Americans, Fox ...