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More than 200 House and Senate Republicans are backing a bill to repeal the federal estate tax just as ... It comes as Republicans work on extending President Donald Trump’s 2017 Tax Cuts and ...
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...
The expiration isn't a surprise: It was written into Trump's signature tax legislation from his first term, the Tax Cuts and Jobs Act (TCJA), signed into law in 2017.
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Tax Relief Reconciliation Act of 2001, the applicable exclusion increased to $3,500,000 in 2009, and the estate tax was repealed for estates of decedents dying in 2010, but then the Act was to "sunset" in 2011 and the estate tax was to reappear with an applicable exclusion amount of only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.
[155] [113] [156] 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. [113] 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. ...
Here's how much you'll pay in taxes if Trump's tax cuts get extended or expire. Juliana Kaplan. January 15, 2025 at 1:15 AM. President-elect Donald Trump's 2017 tax package is set to expire in 2025.
An analysis by The New York Times found that 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 $11 million in taxes. [204] The analysis also found that Trump would save $4.4 million on his eventual estate tax bill. [204]
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 ...