The Hill Quotes Beth Kaufman on Calls to Revise Estate Tax Rules

Democrats are calling for changes to the estate tax following a bombshell news report detailing how the Trump family navigated the tax code to protect the family's financial assets.

. . .

"A lot of those things in that article are already illegal and were illegal when they happened. They just required enforcement," said Beth Kaufman, president of the law firm Caplin & Drysdale, who specializes in estate planning.

But enforcement has dropped off in recent years.

The IRS budget has plummeted more than $800 billion from 2010 to 2017, a period that saw its workforce drop by 19 percent.

. . .

Last week, Sen. Elizabeth Warren (D-Mass.) introduced a housing bill that included estate tax reforms and rate increases as a pay-for.

But some are skeptical that things will change much, even if Democrats take control of Congress.

"I believe that this has been a problem through periods where either party was in control and it didn't get resolved," Kaufman noted.

For the full article, please visit The Hill’s website.

Excerpt taken from the article “Trump Tax Story Prompts Calls to Revise Estate Rules” by Niv Elis for The Hill.