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Estate Tax Proposal Could Lead to Disparities, Lawyers Say

Aug. 8, 2022, 2:00 PM

Tax lawyers are zeroing in on how proposed estate-tax regulations treat certain gifts where interests in the transferred assets are relinquished shortly before death, saying this aspect of the guidance could result in individuals in similar situations having their gifts be subject to different estate tax exemption amounts.

Stakeholders recently submitted comments to the Treasury Department and IRS about regulations proposed in April, which outline exceptions to when large gifts are eligible for the temporarily increased basic exclusion amount established by the 2017 tax law.

Several groups asked the IRS to make changes to an aspect of the proposal—known as ...