Nerdy tax thought of the day: Treasury decision to withdraw 2704 regs prob reduces cost of estate tax repeal by 1/3 #JCT #valuationBS
Under current law you can play valuation games to reduce value of the estate for tax purposes. Proposed regs would make that harder to do.
Withdrawing regs means that estate tax raises less revenue
So repeal of the estate tax now looks “cheaper” for budget purposes
Note that if Treasury really thought estate tax was going to be repealed, they wouldn’t bother withdrawing the regs
House will pass estate tax repeal; Senate will just raise the exemption level, or leave alone
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.