Beth Kaufman Talks to Bloomberg on Lower Estate and Gift Tax Exemption in Latest Tax Plan

Bloomberg Law

The latest plan released by House Democrats scales back many of President Biden’s proposals to hike taxes on corporations and rich investors, as moderates and progressives tussle over how far to go to address inequality. But they included an element the White House left out.

. . .

The House Democrats’ plan would provide a window for rich Americans to take advantage of the higher lifetime exemption between now and the end of the year. “Most clients have already used this exemption,” said Beth Shapiro Kaufman, a member in Caplin & Drysdale’s Washington, D.C., office. But anyone who’s been procrastinating will have a few months to carry out planning strategies.

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