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Congress Should Reduce Or Repeal Death Tax

by Policy and Taxation Group Admin | Aug 22, 2017 | Blog, Estate Tax Horror Stories, Maryland

Dear Ms. Soldano: I want Congress to do something about reducing the death tax if they won’t repeal it. It looks like the Democrats are dead-set against a repeal, but might support a compromise (even though they killed the latest attempt to come up with a bill...

Congress Should Reduce Or Repeal Death Tax

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Death Tax & Estate Tax News

While the devil is in the details, it is possible that if President Biden’s elimination of step-up in basis proposal is passed by Congress you could be paying an estate tax at 40%, and a capital gains tax at 43.4%.

Pay close attention to what is being discussed and let your members of Congress know you do not support elimination of step up in basis.

There are efforts in DC to make the estate tax (death tax) worse; higher than a 40% tax on your business and all your assets! But there is hope; a bill to reduce the rate of tax from 40% to 20% has been introduced in the House HR 3178 and in the Senate S1627.

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