New tax law increases big beyond-the-grave tax break for the wealthy
CNN
The US federal estate tax has come a long way since 2000, when the exemption level was set at $675,000.
The US federal estate tax has come a long way since 2000, when the exemption level was set at $675,000. The amount has increased greatly over the past quarter century. Americans who die in 2025 may leave behind tax free to their heirs up to $13.99 million. That exemption level had been set to expire after this year and snap back to a little more than $7 million per person. But that won’t happen. Instead, starting in 2026, the exemption level will increase by roughly 7.2% to $15 million and adjust for inflation every year thereafter. That’s courtesy of the One Big Beautiful Act that Republicans pushed through in time for President Donald Trump to sign it into law on his self-appointed deadline of July 4. Keep in mind, while not new, the exemption level is effectively doubled for married couples. That’s because any unused exemption from the first spouse who dies can be passed to the surviving spouse, and the decedent’s estate can pass to the widow or widower tax free. Then, when they die, they will get up to two times the individual exemption level. So that comes to $27.98 million tax free for couples this year and $30 million next year.
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