{
  "id": "RL30600",
  "type": "CRS Report",
  "typeId": "REPORT",
  "number": "RL30600",
  "active": false,
  "source": "University of North Texas Libraries Government Documents Department",
  "versions": [
    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc822403/",
      "id": "RL30600_2008Mar19",
      "date": "2008-03-19",
      "retrieved": "2016-03-19T13:57:26",
      "title": "Estate and Gift Taxes: Economic Issues",
      "summary": "The unified estate and gift tax is levied on the transfer of assets that occurs when someone dies or gives a gift. Filing an estate tax return can be difficult depending on the value and complexity of the estate. The purpose here is to outline the mechanics of the estate and gift tax. The first section begins with a brief review of the general rules accompanied with a numerical example. There are some minor provisions of the law that are not discussed here, however, such as the phase out of the graduated rates and the credit for taxes on property recently transferred. The second section summarizes the special rules for farms and small businesses. And, the final section briefly describes the generation skipping transfer tax. The appendix of this report provides detailed data from returns filed in 2005, the latest year for which data are available.",
      "type": "CRS Report",
      "typeId": "REPORT",
      "active": false,
      "formats": [
        {
          "format": "PDF",
          "filename": "files/20080319_RL30600_1fb13fa664c601010411a53d4ea1949d74d7bfdd.pdf"
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          "format": "HTML",
          "filename": "files/20080319_RL30600_1fb13fa664c601010411a53d4ea1949d74d7bfdd.html"
        }
      ],
      "topics": [
        {
          "source": "LIV",
          "id": "Taxation",
          "name": "Taxation"
        },
        {
          "source": "LIV",
          "id": "Gift tax",
          "name": "Gift tax"
        },
        {
          "source": "LIV",
          "id": "Estate tax",
          "name": "Estate tax"
        }
      ]
    },
    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc809482/",
      "id": "RL30600_2007Jan26",
      "date": "2007-01-26",
      "retrieved": "2016-03-19T13:57:26",
      "title": "Estate and Gift Taxes: Economic Issues",
      "summary": null,
      "type": "CRS Report",
      "typeId": "REPORT",
      "active": false,
      "formats": [
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          "format": "PDF",
          "filename": "files/20070126_RL30600_b2da7d0ce902deddb23a46c853fb8c10407fdd3e.pdf"
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        {
          "format": "HTML",
          "filename": "files/20070126_RL30600_b2da7d0ce902deddb23a46c853fb8c10407fdd3e.html"
        }
      ],
      "topics": []
    },
    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metacrs8575/",
      "id": "RL30600 2006-01-19",
      "date": "2006-01-19",
      "retrieved": "2006-04-19T08:31:49",
      "title": "Estate and Gift Taxes: Economic Issues",
      "summary": "The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) repeals the estate tax in 2010. During the phase-out period, the new law increases the exempt amount to $3.5 million by 2009 ($1.5 million in 2005), lowers the top rate to 45% by 2007 (the top rate in 2005 is 47%), and repeals the federal credit for state death taxes in 2005. The federal gift tax remains though the rate is reduced to the top personal income tax rate (35% in 2005). After repeal of the estate tax, carryover basis replaces step-up in basis for assets transferred at death. The legislation includes an exemption from carryover basis for capital gains of $1.3 million (and an additional $3 million for a surviving spouse). However, the estate tax provision in EGTRRA automatically sunsets December 31, 2010.",
      "type": "CRS Report",
      "typeId": "REPORT",
      "active": false,
      "formats": [
        {
          "format": "PDF",
          "filename": "files/20060119_RL30600_684f470aa0fac9416a25088ec5fe94b5b44c7c27.pdf"
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        {
          "format": "HTML",
          "filename": "files/20060119_RL30600_684f470aa0fac9416a25088ec5fe94b5b44c7c27.html"
        }
      ],
      "topics": [
        {
          "source": "LIV",
          "id": "Taxation",
          "name": "Taxation"
        },
        {
          "source": "LIV",
          "id": "Gift tax",
          "name": "Gift tax"
        },
        {
          "source": "LIV",
          "id": "Estate tax",
          "name": "Estate tax"
        }
      ]
    },
    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc819079/",
      "id": "RL30600_2005Apr21",
      "date": "2005-04-21",
      "retrieved": "2016-03-19T13:57:26",
      "title": "Estate and Gift Taxes: Economic Issues",
      "summary": null,
      "type": "CRS Report",
      "typeId": "REPORT",
      "active": false,
      "formats": [
        {
          "format": "PDF",
          "filename": "files/20050421_RL30600_6f2b4d62e8eb0dcf4c0eb57862e368081bcfa810.pdf"
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        {
          "format": "HTML",
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      ],
      "topics": []
    },
    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metacrs6312/",
      "id": "RL30600 2005-01-03",
      "date": "2005-01-03",
      "retrieved": "2005-06-12T06:58:28",
      "title": "Estate and Gift Taxes: Economic Issues",
      "summary": "The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) repeals the estate tax in 2010. During the phase-out period, the new law increases the exempt amount to $3.5 million by 2009 ($1.5 million in 2005), lowers the top rate to 45% by 2007 (the top rate in 2005 is 47%), and repeals the federal credit for state death taxes in 2005. The federal gift tax remains though the rate is reduced to the top personal income tax rate (35% in 2005). After repeal of the estate tax, carryover basis replaces step-up in basis for assets transferred at death. The legislation includes an exemption from carryover basis for capital gains of $1.3 million (and an additional $3 million for a surviving spouse). However, the estate tax provision in EGTRRA automatically sunsets December 31, 2010.",
      "type": "CRS Report",
      "typeId": "REPORT",
      "active": false,
      "formats": [
        {
          "format": "PDF",
          "filename": "files/20050103_RL30600_58ede6df8548503d2f9242281d3bc7964be7252d.pdf"
        },
        {
          "format": "HTML",
          "filename": "files/20050103_RL30600_58ede6df8548503d2f9242281d3bc7964be7252d.html"
        }
      ],
      "topics": [
        {
          "source": "LIV",
          "id": "Taxation",
          "name": "Taxation"
        },
        {
          "source": "LIV",
          "id": "Gift tax",
          "name": "Gift tax"
        },
        {
          "source": "LIV",
          "id": "Estate tax",
          "name": "Estate tax"
        }
      ]
    },
    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc824611/",
      "id": "RL30600_2003Jan31",
      "date": "2003-01-31",
      "retrieved": "2016-04-04T14:48:17",
      "title": "Estate and Gift Taxes: Economic Issues",
      "summary": "This report discusses how the estate and gift tax works and examines various policy options. The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) repeals the estate tax after 2009. In the 108th Congress, some policymakers have proposed eliminating the sunset provision in the EGTRRA, thus making repeal of the estate tax permanent.",
      "type": "CRS Report",
      "typeId": "REPORT",
      "active": false,
      "formats": [
        {
          "format": "PDF",
          "filename": "files/20030131_RL30600_6436cb40c96ed233024241d6ba87d588edec98a4.pdf"
        },
        {
          "format": "HTML",
          "filename": "files/20030131_RL30600_6436cb40c96ed233024241d6ba87d588edec98a4.html"
        }
      ],
      "topics": [
        {
          "source": "LIV",
          "id": "Taxation",
          "name": "Taxation"
        },
        {
          "source": "LIV",
          "id": "Gift tax",
          "name": "Gift tax"
        },
        {
          "source": "LIV",
          "id": "Estate tax",
          "name": "Estate tax"
        }
      ]
    }
  ],
  "topics": [
    "Economic Policy"
  ]
}