GOP Plan to Boost Estate Tax Exemption Offers Planning Certainty

This article was originally published on June 6, 2025, on Bloomberg Tax.

Congress is considering changes to the estate, gift, and generation-skipping transfer tax regimes that could enhance the stability and predictability of estate planning for families and their advisers. A tax bill approved by the House on May 22 proposes to permanently raise the unified tax exemption amount from $13.99 million (adjusted for inflation from the 2017 Tax Cuts and Jobs Act) to $15 million per person starting January 1. This increase would reduce the number of estates required to pay federal estate tax and provide more taxpayers with the opportunity to utilize exemptions for lifetime gifting and transfers at death.

BDO’s Abbie Everist provides details in the full article on Bloomberg Tax.

This article was originally published by Bloomberg Tax*. Reproduced with permission. Copyright 2025 Bloomberg Industry Group, Inc. (800-372-1033) www.bloombergindustry.com.