Exempt Estates

Last year, 2.6 million Americans died. Of those, 5,219 had estates large enough, greater than $5.49 million/person, to pay estate tax. Doubling the exempted amount to $11 million/person, which the Senate proposes, would reduce the number of taxable estates to 2,204. If the estate tax is eliminated, as the House proposes doing in 2024 after first doubling the exemption, the cost to the Treasury would be $151 billion through 2028.