A bill to amend the Internal Revenue Code of 1954 to increase the unified credit against estate and gift taxes to provide that $500,000 of property shall be exempt from such taxes, and to provide an inflation adjustment of such amount.

openUnited States· United States Congress· EN

Introduced

20 January 1981

Last action

—

Status

See H.R.4242.

Summary

Amends the Internal Revenue Code to increase the unified credit against the estate and gift tax from $47,000 to $155,800 by specified annual increments through 1986. Provides for a yearly inflation adjustment of the amount of such credit.

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Versions

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Documents

1 official file

Introduced in House
summary · EN · 20 January 1981
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/house-bill/961
Open data entity: https://api.congress.gov/v3/bill/97/hr/961