Understanding Federal Estate and Gift Taxes

Congressional Budget Office

No 57129, Reports from Congressional Budget Office

Abstract: In this report, CBO describes estate and gift taxes, the people who pay them, the types of assets that make up taxable estates, and the model the agency uses to project estate and gift tax revenues in its baseline. In 2020, revenues from federal estate and gift taxes totaled $17.6 billion (equal to 0.1 percent of gross domestic product, or GDP). In recent years, changes to estate and gift tax laws have reduced the revenues raised by the taxes and the number of taxpayers who incur that liability.

JEL-codes: H20 H24 (search for similar items in EconPapers)
Date: 2021-06-09
New Economics Papers: this item is included in nep-ore and nep-pub
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