ABA Publishes Akin Gump Client Alert on New Tax Law’s Impact on Estate and Gift Taxes
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Business Tax Quarterly, a publication of the American Bar Association’s Business Law Section, has published the article “Dramatic Change to Federal Estate, Gift and Generation-Skipping Tax Exemptions,” written by Akin Gump tax partners Seth Slotkin and Timothy Tehan and senior counsel Elizabeth Harris.
The article recounts some of the key changes made by last year’s Tax Cuts and Jobs Act, which the authors describe as “the most comprehensive update to the Internal Revenue Code in decades.” They note that the statute, in addition to changing the federal income tax laws, makes “significant, albeit temporary, changes to the federal estate, gift and generation-skipping transfer (GST) tax laws.”
Slotkin, Tehan and Harris write that the new law could also have an impact on state estate and gift tax laws.
To read the full article, which originated as an Akin Gump client alert, please click here.
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