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.

Rackemann combined with Verrill on January 1, 2022. The above information was created before the combination and has been carried over from Rackemann’s website.

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