Estate Tax
Overview of the estate tax system.
- History of U.S. Wealth Transfer Tax System
- Wealth transfer taxes have been part of the U.S. Federal tax system since 1797. This overview presents data about the estate and gift tax, a brief discussion of possible economic effects of the tax, and a short summary of present law estate and gift tax rules.
- Present Law
- A gift tax is imposed on certain lifetime transfers and an estate tax is imposed on certain transfers at death.
