To amend the Internal Revenue Code of 1986 to increase the unified credit against estate and gift taxes to an amount equivalent to a $1,000,000 exclusion.

Summary

Amends the Internal Revenue Code to increase the unified credit against estate tax and gift tax. Revises the formula for the phase-out of graduated rates and the unified credit. Requires the executor of an estate to make a tax return where the estate exceeds $1 million (currently $600,000).

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 January 1997

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• Introduced in House (PDF)

  Introduced in House · EN · 7 January 1997

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 7 January 1997

  Open at official source

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