Tax
Nov. 10, 2020
Biden presidency could mean big changes for taxes on death
During the 2016 presidential campaign, there was plenty of talk about estate taxes — death taxes to use a common pejorative term. None of that happened, and in the 2020 campaign, there was little talk about estate tax. Even so, big change might be coming to taxes on death.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
During the 2016 presidential campaign, there was plenty of talk about estate taxes -- death taxes to use a common pejorative term. In 2016, Donald Trump wanted them repealed entirely, while Hillary Clinton and Bernie Sanders wanted them increased a lot, slashing the $11.5 million per person exemption to $3.5 million, and upping the tax rate from 40% to 65% for big estates. None of that happened, and in the 2020 campaign, there was little talk about estate tax. Even so...
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