What is an inheritance tax? Q.What is an inheritance tax? A.A type of wealth transfer tax in which the recipient, rather than the donor’s estate, is taxed. Read more about What is an inheritance tax?
How many people pay the estate tax? Q.How many people pay the estate tax? A.About 4,100 estate tax returns will be filed for people who die in 2020, of which only about 1,900 will be taxable—less than 0.1 percent of the 2.8 million people expected to die in that year. Read more about How many people pay the estate tax?
What are the options for taxing wealth transfers? Q.What are the options for taxing wealth transfers? A.There are three options: an estate and gift tax (like the current US federal system), an inclusion tax, or an accessions tax. Read more about What are the options for taxing wealth transfers?
