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