Reported about 17 hours ago
A newly implemented tax law has raised the federal estate tax exemption from $13.99 million to $15 million beginning in 2026, effectively doubling the exemption for married couples. This change, part of the One Big Beautiful Act, aims to maintain lower taxation on large estates, further decreasing the percentage of Americans subject to estate taxes. While the federal tax rates remain unchanged, the adjustment is projected to reduce federal revenue by approximately $212 billion over the next decade.
Source: YAHOO