Dena W. Hirsch and Katharine B. M. Brite Published in Bloomberg Tax: Tax Management Estates, Gifts and Trusts Journal™
The article, “Estate and Income Tax Changes Under a Biden-Harris Administration,” written by Dena W. Hirsch and Katharine B. M. Brite, was published in Bloomberg Tax: Tax Management Estates, Gifts and Trusts Journal.
A Biden-Harris administration has important implications for estate and income taxes in addition to the sunsetting estate tax exemption, which will return to about $6 million after Dec. 31, 2025. This article examines proposed tax changes, such as a reduction of the federal estate tax exemption and the removal of step-up in cost basis at death, and addresses how to plan for these changes.
Download and read the full journal and article here (PDF)