Document Type
Article
Abstract
One of the central components of the Nation's transfer tax system is the federal estate tax exemption. This is the amount that taxpayers can pass free of transfer tax imposition. While over the last 100 years the size of this exemption has fluctuated, Congress most recently increased it exponentially, jeopardizing the vitality of the entire transfer tax regime and potentially sapping it of its strength. To enhance the Nation's fiscal solvency and to reduce wealth inequality, this analysis contends that Congress must reduce the estate tax exemption (and, along with it, the gift and generation-skipping transfer tax exemptions). Furthermore, it proposes ways for Congress to efficiently and equitably accomplish this goal. As a practical matter, the failure to take action will relegate the Nation's transfer tax system to obscurity.
Recommended Citation
Jay A. Soled,
The Federal Estate Tax Exemption and the Need for Its Reduction,
47 Fla. St. U. L. Rev.
(2020)
.
https://ir.law.fsu.edu/lr/vol47/iss3/4