Revenue Analysis Of Options To Reform The Estate Tax

Revenue Analysis Of Options To Reform The Estate Tax, Gift tax And Generation Skipping Transfer Tax

Our federal transfer tax system has three related components: The estate tax, a gift tax and a generation-skipping transfer tax.

For much of its history, wealth transfer taxes were enacted to finance Wars. They were never meant to be a major source of government revenue.

In 2015, the last year of which data are available, approximately 5,000 descendants paid $17.1 billion in federal estate taxes.

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