the personal exemption was $4,050, but was phased out for taxpayers whose AGI exceeded certain thresholds. The TCJA set the personal exemption at zero dollars. This provision will expire on
As the 2025 sunset of the Tax Cuts and Jobs Act (TCJA) looms, financial advisors send a letter to Congress.
6. The estate tax exemption threshold more than doubled The TCJA increased the threshold for the federal estate tax from $5.49 million per individual in 2017 to $11.18 million per individual in 2018 (with the threshold continuing to rise annually in subsequent years with inflation). This dramati...