Estate & Gift Tax Changes under 2017 Tax Cut and Jobs Act
This column first appeared in the San Antonio Express News on December 22, 2017. On Friday, December 22, 2017, President Trump signed the Tax Cut and Jobs Act (TCJA) into law. The new law makes large modifications to the income tax system, but this column will focus on changes to the estate and gift tax system. The house version of the TCJA proposed to eliminate the estate tax altogether. The senate version retained the estate tax, but doubled the allowable exemption. The fin