The Tax Cuts and Jobs Act temporarily doubled the amount which can be given free of tax. However, that amount reverts to the permanent, undoubled amount in 2026. The estate tax ordinarily includes prior taxable gifts and then applies the exclusion to the total. However, in 2026 or later, this could result in a tax on amounts which weren’t taxable when gifted. This issue is the “clawback.” New Proposed Regulations resolve this issue. Read on to learn more.
Proposed Regulations Address “Clawback” Issue
Barry H. Zimmer founded THE ZIMMER LAW FIRM in June 1993, to practice in the areas of Estate Planning, Estate Administration, and Business Succession Planning. His goal was and continues to be helping clients understand and de-mystify the often confusing world of Estate Planning in an ever-changing society, and to implement effective Estate Planning with minimal effort and time investment.
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