House Proposal Brings Big Changes for Estate Planning

Overview

On Monday, September 13, 2021, the House Ways and Means Committee released the text for proposed tax changes to be incorporated in a budget reconciliation bill called the Build Back Better Act. The 881-page text includes several significant changes to income and transfer taxes that could drastically change estate, gift, and individual income tax planning if made into law. The following is a brief summary of several of the most significant proposed changes.

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