The Tax Cuts and Jobs Act temporarily doubled the amount which can be given free of tax. However, that amount reverts to the permanent, undoubled amount in 2026. The estate tax ordinarily includes prior taxable gifts and then applies the exclusion to the total. However, in 2026 or later, this could result in a tax on amounts which weren’t taxable when gifted. This issue is the “clawback.” New Proposed Regulations resolve this issue. Read on to learn more.
Latest posts by Scott Schomer, Estate Planning Attorney (see all)
- Study: Most Los Angeles Residents Do Not Have Wills - April 19, 2019
- What’s the Difference Between a Medi-Cal Trust and a Living Trust? - April 18, 2019
- Attend an Upcoming Estate Planning Seminar - April 17, 2019